(Reuters) – Futures for Canada’s main stock index fell on Tuesday, with the main set to snap its two-day win streak, as bullion prices eased on stronger dollar.
Gold futures fell 0.11% as dollar firmed ahead of the U.S. Federal Reserve Chairman Jerome Powell’s testimony to Congress later in the day.
March futures on the S&P/TSX index were down 0.29% at 7:00 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.2% higher at 18,422.24 on Monday.
Dow Jones Industrial Average e-mini futures were down 0.04% at 7:00 a.m. ET, while S&P 500 e-mini futures fell 0.44% and Nasdaq 100 e-mini futures dropped 1.49%.
Brookfield Infrastructure Partners on Monday formally launched a hostile bid to buy Inter Pipeline Ltd with the same C$16.50-per-share offer the Canadian oil and gas transportation company had rejected as inadequate weeks ago.
Bank of Nova Scotia beat analyst estimates for first-quarter profit on Tuesday, as it set aside lower-than-expected funds for loan loss provisions and its wealth management unit performed well.
Thomson Reuters Corp, reported higher fourth-quarter revenue on Tuesday and said it would start a two-year program that will change it from a holding company to an operating company.
ANALYST RESEARCH HIGHLIGHTS
Calian Group Ltd: Canaccord Genuity raises target price to C$77 from C$75
Just Energy Group Inc: CIBC cuts rating to “underperform” from “neutral”
Solaris Resources Inc: TD Securities raises price target to C$11 from C$10
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1805.3; -0.11%
US crude: $62.1; +0.66%
Brent crude: $65.64; +0.6%
U.S. ECONOMIC DATA DUE ON TUESDAY
0900 Monthly home price mm for Dec: Prior 1.0%
0900 Monthly home price yy for Dec: Prior 11.0%
0900 Monthly Home Price Index for Dec: Prior 310.1
0900 Caseshiller 20 mm SA for Dec: Expected 1.3%; Prior 1.4%
0900 Caseshiller 20 mm NSA for Dec: Prior 1.1%
0900 Caseshiller 20 yy for Dec: Expected 9.9%; Prior 9.1%
1000 Consumer Confidence for Feb: Expected 90.0; Prior 89.3
1000 Rich Fed Composite Index for Feb: Prior 14
1000 Rich Fed, Services Index for Feb: Prior -3
1000 Rich Fed Manufacturing Shipments for Feb: Prior 10
1030 Texas Service Sector Outlook for Feb: Prior -1.2
1030 Dallas Fed Services Revenues for Feb: Prior 0.8
(Reporting by Amal S in Bengaluru; Editing by Krishna Chandra Eluri)
This content was originally published here.
The price of gold appeared to be moving to the beat of its own drum after failing to exhibit the bullish price action…
Share Great Content for Our Resource Section
MoneyForGold.com is a resource site created for those looking to sell their personal collection of gold - whether it’s jewelry, coins, bars, antiques, etc., anything made from gold can be sold for quick cash. We encourage visitors to signup and share quality “Money For Gold” resources.
Have a question or comment? Email us at: email@example.com