(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.
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