Policymakers agreed on Wednesday that they should hold off
on increasing rates until it was clear a recent slowdown in the
U.S. economy was temporary, though most said a hike was coming
soon.
June futures on the S&P TSX index were up 0.20
percent at 7:15 a.m. ET.
Canada’s main stock index lost ground on Wednesday, weighed
by a sharp fall in shares of Bank of Montreal after it
reported disappointing earnings, with investors also shying away
from other major banks ahead of their quarterly results.
Dow Jones Industrial Average e-mini futures were up
0.32 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
were up 0.26 percent and Nasdaq 100 e-mini futures
were up 0.34 percent.
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TOP STORIES
Royal Bank of Canada reported an 11 percent increase
in second-quarter earnings, beating market forecasts, helped by
a strong performance in its capital markets and wealth
management businesses.
Toronto-Dominion Bank reported second-quarter
results which were ahead of market expectations, helped by a
strong performance at its retail and investment banking
businesses.
Canadian Imperial Bank of Commerce, Canada’s
fifth-biggest lender, reported a better-than-expected
second-quarter profit, helped by growth across its businesses.
ANALYST RESEARCH HIGHLIGHTS
Dollarama Inc: RBC raises target price to C$138
from C$133
Bank of Montreal: CIBC cuts target price to C$105
from C$109
Prairiesky Royalty Ltd: RBC raises target price to
C$38 from C$34
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,258.3; +0.47 pct
US crude: $50.61; -1,46 pct
Brent crude: $53.31; -1.2 pct
LME 3-month copper: $5,687.50; +0.1 pct
U.S. ECONOMIC DATA DUE ON THURSDAY
08:30 Advance goods trade balance for April: Prior -64.23
bln
08:30 Advance Wholesale Inventory for April: Prior 0.2
08:30 Advance Retail Inventory Ex Auto for April: Prior 0.3
08:30 Initial jobless claims: Expected 238,000; Prior
232,000
08:30 Jobless Claims 4-week Average: Prior 240,750
08:30 Continued jobless claims: Expected 1.925 mln; Prior
1.898 mln
11:00 KC Fed Manufacturing for May: Prior 12
11:00 KC Fed Composite Index for May: Prior 7
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 Sai Sharanya Khosla in Bengaluru; Editing by
Sriraj Kalluvila)