RTRS: CANADA STOCKS-TSX looks set to open higher ahead of Fed decision
Dec 16 Canada's main stock index looked set to open higher on Wednesday as investors prepared for the first U.S. interest rate increase since 2006.
The Federal Reserve is expected to announce a token hike of 25 basis points, from near zero, at 2 p.m. ET (1900 GMT).
March futures on the S&P TSX index were up 0.63 percent at 7:15 a.m. ET.
Canada's main stock index jumped on Tuesday in a broad rally led by shares in energy companies as crude prices rose. Bank stocks also gained.
Dow Jones Industrial Average e-mini futures were up 0.49 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.43 percent and Nasdaq 100 e-mini futures were up 0.40 percent.
(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
TOP STORIES
Valeant Pharmaceuticals International Inc cut its revenue and profit forecasts for 2015, but said it still expected double-digit percentage sales growth through higher volumes in 2016.
The Public Sector Pension Investment Board, one of Canada's 10 largest pension fund managers, is considering entering the oil and gas sector as weak crude prices create opportunities for long-term investors, Chief Executive Andre Bourbonnais said.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,063; +0.11 pct
US crude : $37.20; -0.40 pct
Brent crude : $37.62; -2.16 pct
LME 3-month copper : $4,578; +0.28 pct
ANALYST RESEARCH HIGHLIGHTS
Enerflex Ltd : Raymond James raises cuts to market perform from outperform; target price to C$15.50 from C$15
Whitecap Resources Inc : Barclays cuts target price to C$12 from C$13
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Building permits number for Nov: Expected 1.150 mln; Prior 1.161 mln
0830 Build permits change mm for Nov: Prior +5.1 pct
0830 Housing starts number mm for Nov: Expected 1.135 mln; Prior 1.060 mln
0830 House starts change mm for Nov: Prior -11.0 pct
0915 Industrial output mm for Nov: Expected -0.1 pct; Prior -0.2 pct
0915 Capacity utilization mm for Nov: Expected +77.4 pct; Prior +77.5 pct
0915 Manufacturing output mm for Nov: Expected +0.1 pct; Prior +0.4 pct
