December 18, 2018 / 12:35 PM / 6 months ago

CANADA STOCKS-TSX futures up on rising gold prices; eyes on U.S. Fed

Dec 18 (Reuters) - Futures pointed to a higher opening for Canada’s main stock index on Tuesday as gold prices rose, with the U.S. dollar falling on expectations that the U.S. Federal Reserve will slow its pace of raising interest rates after this week’s meeting.

December futures on the S&P/TSX index were up 0.38 percent at 7:00 a.m. ET.

Canada’s factory sales data is due at 8:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX fell 232.42 points, or 1.59 percent, to 14,362.65 on Monday.

Dow Jones Industrial Average e-mini futures were up 0.33 percent at 7:00 a.m. ET, S&P 500 e-mini futures 0.39 percent and Nasdaq 100 e-mini futures 0.55 percent.

TOP STORY

The pace of interest rate hikes in Canada could be interrupted or sped up depending on the economic circumstances, Bank of Canada Governor Stephen Poloz said on Monday.

ANALYST RESEARCH HIGHLIGHTS

Aecon Group Inc: Canaccord Genuity raises target price to C$24 from C$23

Kirkland Lake Gold Ltd: RBC raises target price to C$38 from C$33

Painted Pony Energy Ltd: CIBC cuts target price to C$2.75 from C$3.25

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1250.4; +0.18 percent

US crude: $48.3; -3.17 percent

Brent crude: $57.94; -2.8 percent

U.S. ECONOMIC DATA DUE ON TUESDAY

0830 Building permits: number for Nov: Expected 1.259 mln; Prior 1.265 mln

0830 Build permits: change mm for Nov: Prior -0.4 pct

0830 Housing starts number for Nov: Expected 1.225 mln; Prior 1.228 mln

0000 House starts mm: change for Nov: Prior 1.5 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 ($1= C$1.34) (Reporting by Nayyar Rasheed in Bengaluru)

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