(Reuters) – Canada’s main stock index futures rose on Tuesday, helped by gains in oil prices and hopes of a U.S. stimulus package to revive the economy.
FILE PHOTO: A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch
Crude oil prices rose, underpinned by expectations of a U.S. stimulus to help jumpstart the world’s biggest oil consumer, a rebound in Asian demand as economies reopen and a stronger stock market.
September futures on the S&P/TSX index SXFc1 were up 0.82% at 7:00 a.m. ET.
Data for Canada’s house starts for the month of July is due at 8:15 a.m. ET
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.99% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 rose 0.69% and Nasdaq 100 e-mini futures NQc1 gained 0.54%. [.N]
On Monday, the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended 0.37% higher at 16,605.50.
TOP STORIES [TOP/CAN]
Canadian Finance Minister Bill Morneau could lose his job amid disagreements with Prime Minister Justin Trudeau over how to steer the economy through the coronavirus outbreak, the Globe and Mail said on Tuesday.
Canadian fertilizer maker Nutrien Ltd (NTR.TO) on Monday cut its annual adjusted profit forecast as weaker-than-normal industrial demand held back prices for ammonia and urea ammonium nitrate.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Absolute Software Corp (ABT.TO): BMO raises target price to C$18 from C$12.50
Equinox Gold Corp (EQX.TO): TD Securities Raises Target Price to C$25 from C$21
Teranga Gold Corp (TGZ.TO): RBC rsises target price to C$20 from C$13
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1,985.9; -2.04% [GOL/]
US crude CLc1: $42.55; +1.45% [O/R]
Brent crude LCOc1: $45.48; +1.09% [O/R]
U.S. ECONOMIC DATA DUE ON TUESDAY
0600 NFIB Business Optimism Index for Jul: Prior 100.60
0830 PPI final demand yy for Jul: Expected -0.7%; Prior -0.8%
0830 PPI final demand mm for Jul: Expected 0.3%; Prior -0.2%
0830 PPI exfood/energy yy for Jul: Expected 0.0%; Prior 0.1%
0830 PPI exfood/energy mm for Jul: Expected 0.1%; Prior -0.3%
0830 PPI ex food/energy/transport yy for Jul: Prior -0.1%
0830 PPI ex food/energy/transport mm for Jul: Prior 0.3%
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Reuters global stocks poll for Canada EQUITYPOLL1 <EPOLL/CA>
Canadian markets directory CANADA
Reporting by Shivani Kumaresan in Bengaluru; Editing by Krishna Chandra Eluri