Toronto futures down as Wall Street, oil prices slip

Nov. 24 (Reuters) – Futures for Canada’s top stock index fell Wednesday, reflecting sentiment on Wall Street ahead of key US data, while weakness in oil prices continued to cloud sentiment.

The December futures on the S&P / TSX index fell 0.2% at 7:00 a.m. ET.

Oil prices fell as investors questioned the effectiveness of a US-led release of oil from strategic reserves and turned their focus on producer response.

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The Toronto Stock Exchange’s S & P / TSX Composite Index (.GSPTSE) ended 0.15% lower at 21,453.77 on Tuesday, ending its four-day winning streak.

Dow E-Minis lost 91 points, or 0.25%, at 7:01 a.m. ET, while the S&P 500 E-Minis fell 7.75 points, or 0.17%, and the Nasdaq 100 E-Minis fell 24.5 points, or 0.15 % yielded.

TOP STORIES

Canada’s warehouses are filling up with everything from furniture to alcohol after flooding in British Columbia washed out critical rail and road lines and disrupted already strained supply chains. Continue reading

HIGHLIGHTS OF ANALYST RESEARCH

Altius Minerals Corp (ALS.TO): Canaccord Genuity lowers target price from 21 CAD to 20 CAD

Interfor Corp (IFP.TO): Scotiabank increases target price from 42 CAD to 44 CAD

Uni-Select Inc (UNS.TO): National Bank of Canada increases target from CAD 25.5 to CAD 27.5

Commodities at 7:00 p.m. ET

Gold Futures: $ 1,787.7; + 0.22%

U.S. Crude Oil: $ 78.41; -0.1%

Brent crude: $ 82.1; -0.23%

US ECONOMIC DATA DUE TUESDAY

0800 Building permits R number for October: Before 1,650 million

0800 Build allows R change mm for Oct: Before 4.0%

0830 Company profits preliminary for Q3: Before 10.5%

0830 Durables for October: Expected 0.2%; Before -0.3%

0830 Durable goods from transport for October: Expected 0.5%; Before 0.5%

0830 Durables Ex-Defense mm for Oct: Before -1.9%

0830 Non-Defense Cap Ex-Air for Oct: Expected 0.5%; Before 0.8%

0830 GDP 2nd estimate for Q3: 2.2% expected; Before 2.0%

0830 GDP sales preliminary for Q3: expected 0.0%; Before -0.1%

0830 GDP consensus expenditure provisional for Q3: previously 1.6%

0830 Preliminary GDP deflator for Q3: expected 5.7%; Before 5.7%

0830 Core PCE prices preliminary for Q3: 4.5% expected; Before 4.5%

0830 PCE prices provisional for Q3: previously 5.3%

0830 Initial application for unemployment benefit: expected 260,000; Before 268,000

0830 Unemployment entitlement 4 weeks Average: Before 272,750

0830 Continuation of the unemployment application: Expected 2.033 million; Before 2,080 million

0830 Advance goods trade balance for Oct: Before -97.03 billion

0830 Wholesale Inventories Rise For October: Before 1.4%

0830 Retail inventories without car advance for October: Before 0.7%

1000 Personal Income mm for Oct: Expected 0.2%; Before -1.0%

1000 Personal consumption real mm for Oct: Before 0.3%

1000 consumption, adjusted mm for Oct: Expected 1.0%; Before 0.6%

1000 Core PCE Price Index mm for Oct: Expected 0.4%; Before 0.2%

1000 Core PCE price index yy for Oct: expected 4.1%; Before 3.6%

1000 PCE price index mm for Oct: Before 0.3%

1000 PCE price index yy for Oct: before 4.4%

1000 U Mich Sentiment Final for November: Expected 66.9; Before 66.8

1000 U Me Conditions Final for November: Before 73.2

1000 U Me Expectations Final for November: Expected 63.0; Before 62.8

1000 U Mich 1 year inflation final for November: Before 4.9%

1000 U Mich 5-year inflation final for November: Before 2.9%

1000 new home sales units for Oct: 0.800 million expected; Before 0.800 million

1000 new property sales change mm for Oct: Before 14.0%

1200 Dallas Fed PCE for October: Was 5.1%

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Reporting by Amal S in Bengaluru; Adaptation by Vinay Dwivedi

Our Standards: The Thomson Reuters Trust Principles.

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