March 17 (Reuters) - Stock futures pointed to a lower start
for Canada's main stock index on Thursday, giving up gains made
a day earlier after the U.S. Federal Reserve cut the number of
rate hikes it expects this year to two from four.
March futures on the S&P TSX index SXFc1 were down 0.68
percent at 7:15 a.m. ET.
Data on wholesale trade prices is due at 8:30 a.m.
Canada's main stock index rose on Wednesday as energy stocks
gained, albeit less than oil prices, as the U.S. dollar plunged
after the Fed's statement.
Dow Jones Industrial Average e-mini futures 1YMc1 were
down 0.36 percent at 7:15 a.m. ET, while S&P 500 e-mini futures
Esc1 were down 0.38 percent and Nasdaq 100 e-mini futures
NQc1 were down 0.47 percent.
TOP STORIES
Creditors of Valeant Pharmaceuticals (NYSE:VRX) International VRX.TO ,
which has been in violation of lender agreements since
Wednesday, are beginning to demand new terms that could further
pressure the drugmaker's business model, according to three
people familiar with the matter.
The Canadian government has finished studying a request from
struggling planemaker Bombardier Inc BBDb.TO for $1 billion in
aid and is preparing to make an announcement within weeks,
according to a source with direct knowledge of the
situation.
AT 7:15 a.m. ET Gold futures GCc2 : $1,270.10; +3.32 pct
US crude CLc1 : $39.06; +1.56 pct
Brent crude LCOc1 : $40.84; +1.29 pct
LME 3-month copper CMCU3 : $5,062.50; +2.56 pct
ANALYST RESEARCH HIGHLIGHTS
Detour Gold Corp DGC.TO : Goldman Sachs (NYSE:GS) cuts ratings to
"neutral" from "buy"
Alimentation Couche-Tard Inc ATDb.TO : CIBC cuts target
price to C$76 from C$82
WSP Global Inc WSP.TO : Raymond James cuts target price to
C$45 from C$50
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Current account for Q4: Expected -$118.9 bln; prior
-$124.1 bln
0830 Initial jobless claims: Expected 268,000; prior 259,000
0830 Jobless claims 4-week average: Prior 267,500
0830 Continued jobless claims: Expected 2.228 mln; prior
2.225 mln
0830 Philly Fed Business Index: Expected -1.7; prior -2.8
0830 Philly Fed 6M Index: Prior 17.3
0830 Philly Fed Capex Index: Prior 2.5
0830 Philly Fed Employment Index: Prior -5.0
0830 Philly Fed Prices Paid Index: Prior -2.2
0830 Philly Fed New Orders Index: Prior -5.3
1000 JOLTS job openings for Jan: Expected 5.500 mln; prior
5.607 mln
1000 Leading index change mm for Feb: Expected 0.2 pct;
Prior -0.2 pct
($1= C$1.30)