TSX futures slip weighed by weak gold prices
Reuters
Published Feb 25, 2021 07:29
(Reuters) - Futures for Canada's main stock index fell on Thursday pressured by lower gold prices, although losses were limited by crude prices hitting their highest levels in more than 13 months.
Spot gold fell 1.04% and gold futures shed 0.94% as U.S. Treasury yields hovered near a one-year high, tarnishing bullion's appeal.
March futures on the S&P/TSX index were down 0.19% at 7:00 a.m. ET.
Oil prices extended gains for a fourth session on Thursday underpinned by an assurance that U.S. interest rates will stay low, and a sharp drop in U.S. crude output last week due to the storm in Texas. [O/R]
Data showing Canada's average weekly earnings for December is due at 08:30 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index ended 0.93% higher at 18,501.47 on Wednesday.
Dow Jones Industrial Average e-mini futures were down 0.04% at 7:00 a.m. ET. S&P 500 e-mini futures were down 0.38% and Nasdaq 100 e-mini futures NQc1 fell 1.05%. (N)
TOP STORIES [TOP/CAN]
Canadian Imperial Bank of Commerce beat analysts' estimates for quarterly profit on Thursday, as it put aside lower-than-expected funds for loan loss provisions and its capital markets segment performed well.
Canadian mining group Lundin plans to begin operating its Argentine silver-gold-copper project Josemaria in 2026, after an investment of $ 3.09 billion, a company spokesman told Reuters on Wednesday.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Altus Group Ltd (Ontario): Canaccord Genuity cuts target price to C$59 from C$65
Equitable Group Inc: Scotiabank raises target price to C$146 from C$136
Royal Bank of Canada: National Bank of Canada raises target price to C$123 from C$117
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1781; -0.94% [GOL/]
US crude: $63.4; +0.3% [O/R]
Brent crude: $67.19; +0.24% [O/R]
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Durable goods for Jan: Expected 1.1%; Prior 0.5%
0830 Durables ex-transport for Jan: Expected 0.7%; Prior 1.1%
0830 Durables ex-defense mm for Jan: Prior 0.8%
0830 Nondefense cap ex-air for Jan: Expected 0.7%; Prior 0.7%
0830 GDP 2nd estimate for Q4: Expected 4.2%; Prior 4.0%
0830 GDP sales preliminary for Q4: Prior 3.0%
0830 GDP cons spending preliminary for Q4: Prior 2.5%
0830 GDP deflator preliminary for Q4: Expected 2.0%; Prior 1.9%
0830 Core PCE prices preliminary for Q4: Expected 1.4%; Prior 1.4%
0830 PCE prices preliminary for Q4: Prior 1.5%
0830 Initial jobless clm : Expected 838,000; Prior 861,000
0830 Jobless clm 4week average : Prior 833,250
0830 Continues jobless clm : Expected 4.467mln; Prior 4.494 mln
1000 Pending Homes Index for Jan: Prior 125.5
1000 Pending sales change mm for Jan: Expected 0.0%; Prior -0.3%
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1100 KC Fed Manufacturing for Feb: Prior 22
1100 KC Fed Composite Index for Feb: Prior 17
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
($1= C$1.25)
Written By: Reuters
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