LUV Stock – CANADA STOCKS-TSX futures rise on gold boost
May 25 (Reuters) – Futures for Canada’s main stock index rose on Tuesday, as gold prices gained on a weaker U.S. dollar after Federal Reserve officials downplayed inflation concerns.
Spot gold XAU=rose 0.12% to $1,883.36 per ounce, hovering near a 4-1/2-month high hit last week. GOL/
Softer-than-expected U.S. economic data kept the dollar at the bottom of its recent range, with dovish comments from Fed speakers allaying inflation fears.
June-quarter futures on the S&P/TSX index SXFc1 were up 0.95% at 07:00 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended 0.08% lower at 19,527.30 on Friday. .TO
Dow e-minis 1YMcv1 were up 0.21% at 07:00 a.m. ET, while S&P 500 e-minis EScv1 were up 0.25%, and Nasdaq 100 e-minis NQcv1 were up 0.39%. .N
TOP STORIES TOP/CAN
Steelmaker Algoma Steel is becoming a publicly listed company through a merger agreed with New York-based blank-check firm Legato Merger Corp LEGO.O in a deal that will value the combined company at more than $1 billion.
The government of Canada said it was preparing to deploy a number of healthcare resources for the province of Manitoba that is reeling under a third wave of the COVID-19 pandemic.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Finning International Inc FTT.TO: BMO cuts target price to C$34 from C$39
Innergex Renewable Energy INE.TO: Credit Suisse cuts target price to C$26 from C$30
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1,883.6; +0.04% GOL/
U.S. crude CLc1: $65.85; -0.32% O/R
Brent crude LCOc1: $68.41; -0.07% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0800 Build permits R number for Apr : Prior 1.760 mln
0800 Build permits R change mm for Apr : Prior 0.3%
0900 Monthly home price mm for Mar : Prior 0.9%
0900 Monthly home price yy for Mar : Prior 12.2%
0900 Monthly Home price Index for Mar : Prior 319.7
1000 Consumer Confidence for May : Expected 119.4; Prior 121.7
1000 New home sales-units for Apr : Expected 0.970 mln; Prior 1.021 mln
1000 New home sales change mm for Apr : Prior 20.7%
1000 Rich Fed Composite Index for May : Prior 17
1000 Rich Fed, Services Index for May : Prior 22
1000 Rich Fed Manufacturing Shipments for May : Prior 16
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
(Reporting by Shivani Kumaresan in Bengaluru; Editing by Devika Syamnath)
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