May 4 Stock futures pointed to a higher opening
for Canada's main stock index on Thursday ahead of quarterly
updates from some major companies including SNC Lavalin and
June futures on the S&P TSX index were up 0.2
percent at 7:15 a.m. ET.
Investors will get a look at Canada's trade balance report
for March, which is expected to have narrowed to C$800 million.
Economists will be looking to see whether exports picked
back up after tumbling by the most in nearly a year in February.
Statistics Canada is scheduled to release the data at 8:30 a.m.
Canada's main stock index retreated on Wednesday as lower
commodity prices weighed on resource stocks, while negative
sentiment around troubled Home Capital Group Inc
spilled over into the broader financial sector.
Dow Jones Industrial Average e-mini futures were up
0.31 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
were up 0.3 percent and Nasdaq 100 e-mini futures
were up 0.34 percent.
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Canadian oil and gas producer Penn West Petroleum Ltd
reported a quarterly profit, compared to a
year-ago loss, helped by an uptick in crude prices and gains
from asset sales.
Canadian Natural Resources Ltd, the country's
largest independent petroleum producer, reported a first-quarter
profit, compared with a loss a year earlier, helped by an uptick
in crude prices.
Manulife Financial Corp, Canada's biggest life
insurer, on Wednesday reported a rise in first-quarter earnings,
slightly beating market forecasts with help from strong sales in
ANALYST RESEARCH HIGHLIGHTS
Gildan Activewear Inc: Desjardins raises target
price to C$42 from C$38
Goeasy Ltd: Raymond James raises target price to
C$41 from C$36
Loblaw Companies Ltd: BMO raises target price to C$85
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1232.5; fell 1.12 percent
US crude: $47.25; fell 1.19 percent
Brent crude: $50.18; fell 1.2 percent
LME 3-month copper: $5569; fell 0.55 percent
U.S. ECONOMIC DATA DUE ON FRIDAY
08:30 International trade mm for Mar: Expected -$44.5 bln;
Prior -$43.6 bln
08:30 Goods trade balance (R) for Mar: Prior -$64.81 bln
08:30 Initial jobless claims: Expected 247,000; Prior
08:30 Jobless claims 4- week average: Prior 242,250
08:30 Continued jobless claims: Expected 2.000 mln; Prior
08:30 Labor costs preliminary for Q1: Expected 2.5 pct;
Prior 1.7 pct
08:30 Productivity preliminary for Q1: Expected 0.0 pct;
Prior 1.3 pct
10:00 Durables ex-defense, R mm for Mar: Prior 0.1 pct
10:00 Durable goods, R mm for Mar: Prior 0.7 pct
10:00 Factory orders mm for Mar: Expected 0.4 pct; Prior 1.0
10:00 Durables ex-transport R mm for Mar: Prior -0.2 pct
10:00 Nondefense capacity ex-air R mm for Mar: Prior 0.2 pct
10:00 Factory ex-transport mm for Mar: Prior 0.4 pct
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
(Reporting by Nikhil Kumar in Bengaluru; Editing by Saumyadeb