February 21, 2019 / 12:45 PM / 6 months ago

CANADA STOCKS-TSX futures flat as investors focus on U.S.-China trade talks

Feb 21 (Reuters) - Futures pointed to a flat opening for Canada’s main stock index on Thursday, as investors await the United States and China to make progress in resolving their trade dispute.

Officials have begun outlining commitments in principle on subjects of forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, sources told Reuters.

March futures on the S&P/TSX index were flat at 7:00 a.m. ET.

December wholesale trade data is due at 08:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX rose 93.80 points, or 0.59 percent, to close at 16,031.24 on Wednesday.

Dow Jones Industrial Average e-mini futures inched up 0.08 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were marginally up 0.06 percent and Nasdaq 100 e-mini futures were up 0.2 percent.

TOP STORIES

The Canadian government will unveil its budget for the 2019/20 fiscal year on March 19 and outline ways to provide more access to prescription drugs, Finance Minister Bill Morneau said on Wednesday, confirming a report from Reuters.

Canadian Prime Minister Justin Trudeau on Wednesday calmed restless legislators at a meeting to discuss two resignations that rocked his Liberal government, but side-stepped questions about how he planned to handle the crisis, party sources said.

The world’s biggest undeveloped gold and copper mining project, planned in southwestern Alaska near the largest fishery for sockeye salmon globally, moved a step closer to approval on Wednesday after the U.S. Army Corps of Engineers released a draft environmental impact statement.

ANALYST RESEARCH HIGHLIGHTS

Alcanna Inc: CIBC cuts price target to C$6 from C$9.

Savaria Corp: LB Securities cuts price target to C$16.50 from C$20.

Emera Inc: RBC raises price target to C$53 from C$50.

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,333.9; -0.8 pct

US crude: $57.39; +0.4 pct

Brent crude: $67.18; +0.15 pct

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Durable goods for Dec: Expected 1.5 pct; Prior 0.7 pct

0830 Durables ex-transport for Dec: Expected 0.3 pct; Prior -0.4 pct

0830 Durables ex-defense mm for Dec: Expected 0.4 pct; Prior -0.1 pct

0830 Nondefense cap ex-air for Dec: Expected 0.2 pct; Prior -0.6 pct

0830 Initial jobless claims: Expected 229,000; Prior 239,000

0830 Jobless claims 4-week average: Prior 231,750

0830 Continued jobless claims: Expected 1.740 mln; Prior 1.773 mln

0830 Philly Fed Business Index for Feb: Expected 14.0; Prior 17.0

0830 Philly Fed 6M Index for Feb: Prior 31.2

0830 Philly Fed Capex Index for Feb: Prior 31.60

0830 Philly Fed Employment for Feb: Prior 9.60

0830 Philly Fed Prices Paid for Feb: Prior 32.70

0830 Philly Fed New Orders for Feb: Prior 21.30

0945 Markit Composite Flash PMI for Feb: Prior 54.4

0945 Markit Manufacturing PMI Flash for Feb: Expected 54.7; Prior 54.9

0945 Markit Services PMI Flash for Feb: Expected 54.3; Prior 54.2

1000 Existing home sales for Jan: Expected 5.00 mln; Prior 4.99 mln

1000 Existing home sales percentage change for Jan: Expected 0.8 percent; Prior -6.4 percent

1000 Leading index change mm for Jan: Expected 0.1 percent; Prior -0.1 percent

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.32) (Reporting by Debanjan Bose in Bengaluru; Editing by James Emmanuel)

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