(Reuters) – Futures for Canada’s main stock index fell on Wednesday, dragged lower by gold stocks as bullion prices weakened on a firmer dollar, while investors awaited the U.S. Federal Reserve policy statement for clarity on monetary stimulus.
Spot gold was down 0.8% as concerns over the passage of a U.S. stimulus package weighed on the metal’s appeal.
March futures on the S&P/TSX index were down 0.73% at 7:00 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.62% lower at 17,795.15 on Tuesday.
Dow Jones Industrial Average e-mini futures were down 0.82% at 7:00 a.m. ET, while S&P 500 e-mini futures slipped 0.75% and Nasdaq 100 e-mini futures eased 0.08%.
TOP STORIES [TOP/CAN]
Canadian National Railway Co said on Tuesday it aims to deliver high single-digit earnings per share growth in fiscal 2021 and beat quarterly profit as improvement in consumer spending drove volumes.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Canadian National Railway Co: JP Morgan cuts target price to C$145 from C$150
Metro Inc: ATB Capital Markets raises target price to C$62 from C$61
Yamana Gold Inc: National Bank of Canada cuts target price to C$7.50 from C$9
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1838.3; -0.64% [GOL/]
US crude: $52.6; +0.02% [O/R]
Brent crude: $55.99; +0.14% [O/R]
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Durable goods for Dec: Expected 0.9%; Prior 1.0%
0830 Durables ex-transport for Dec: Expected 0.5%; Prior 0.4%
0830 Durables ex-defense mm for Dec: Prior 0.8%
0830 Nondefense cap ex-air for Dec: Expected 0.6%; Prior 0.5%
1400 Fed funds target rate: Expected 0-0.25%; Prior 0-0.25%
1400 Fed int on excess reserves: Prior 0.10%
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
(Reporting by Amal S in Bengaluru, Editing by Sherry Jacob-Phillips)
This content was originally published here.
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