June 7 (Reuters) - Canadian stock futures pointed to a
modestly higher opening on Tuesday, a day after Federal Reserve
Chair Janet Yellen dampened speculation about an imminent U.S.
interest rate hike, and as crude prices stayed near 2016 highs.
June futures on the S&P TSX index SXFc1 were up 0.14
percent at 7:15 a.m. ET.
Ivey PMI data is due at 10:00 a.m. ET
Canada's main stock index hit a more than nine-month high on
Monday as commodity price gains helped boost the heavyweight
energy sector and base metal miners, although gold miners pulled
back after last week's rally.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
0.28 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
ESc1 were up 0.25 percent and Nasdaq 100 e-mini futures NQc1
were up 0.34 percent.
TOP STORIES
Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO , which is
under scrutiny for business and accounting practices, reported a
lower-than-expected quarterly profit and cut its full-year
earnings and revenue forecasts.
A weaker economy in Kyrgyzstan is to blame for the Central
Asian state "turning up the heat" on Centerra Gold Inc CG.TO
in recent weeks as the country guns for a bigger slice of the
miner's profits, Centerra's CEO said on Monday.
Canadian portfolio manager Martin Grosskopf is betting
heavily on alternative fuel vehicles overtaking traditional cars
as a pillar of the no-fossil-fuels allocation strategy of his
AGF Investments AGFb.TO sustainable fund. AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1,241.70; -0.23 pct GOL/
US crude CLc1 : $50.14; +0.93 pct O/R
Brent crude LCOc1 : $51.03; +0.93 pct O/R
LME 3-month copper CMCU3 : $4,592.00; -2.03 pct MET/L
ANALYST RESEARCH HIGHLIGHTS
Altagas ALA.TO : Raymond James cuts target price to C$33
from C$35
Emera Inc EMA.TO : Barclays (LON:BARC) raises price target to C$52
from C$50
Firstservice Corp FSV.TO : Raymond James cuts ratings to
"market perform" from "outperform"
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Labor costs revised for Q1: Expected 4.0 pct; Prior 4.1
pct
0830 Productivity revised for Q1: Expected -0.6 pct; Prior
-1.0 pct
0855 Redbook mm: Prior 2.2 pct
0855 Redbook yy: Prior 0.9 pct
1500 Consumer credit for Apr: Expected 18.00 bln; Prior
29.67 bln
($1= C$1.28)