March 1 (Reuters) - Futures for Canada's main stock index were little changed on Thursday, as U.S. Federal Reserve chairman Jerome Powell is set to continue his testimony to lawmakers later in the day.
Financial markets barely moved on Tuesday when Powell made his initial public statements as Federal Reserve chief, but the calm evaporated a few hours later, when Powell, testifying before a U.S. House of Representatives committee, struck a bullish, and personal, tone on the strength of the economy. stocks sold off late to end sharply lower on Wednesday, dragged down by continued worries over rising interest rates.
Canada's main stock index also slumped on Wednesday, pulled lower by energy shares that fell alongside the price of oil andas Valeant Pharmaceuticals VRX.TO tumbled after it gave a weaker-than-expected revenue forecast. Jones Industrial Average e-mini futures 1YMc1 were down 0.42 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.34 percent and Nasdaq 100 e-mini futures NQc1 were down 0.28 percent. .N
March futures on the S&P TSX index SXFc1 were down 0.04percent at 7:15 a.m. ET.
Canada's current account data is due at 8:30 a.m. ET. Thecurrent account deficit in the fourth quarter is expected tohave reduced to C$17.8 billion, after having swelled to C$19.35billion in the previous quarter. (Morning News Call newsletter http://share.thomsonreuters.com/assets/newsletters/Morning_News_Call/MNC_US.pdf ; The Day Ahead newsletter http://share.thomsonreuters.com/assets/newsletters/The_Day_Ahead/TDA_NAM.pdf)
TOP STORIES TOP/CAN
Toronto-Dominion Bank TD.TO reported first-quarter resultswhich were ahead of market expectations, helped by a strongperformance in the United States and Canada. producer Canadian Natural Resources Ltd CNQ.TO saidits fourth-quarter profit beat estimates, boosted by higher oilproduction and higher prices. Crescent Point Energy Corp CPG.TO reported asmaller loss in the fourth quarter thanks to higher oil pricesand production. oil and gas producer Husky Energy Inc HSE.TO reported a higher quarterly profit on Thursday, led by corporatetax cuts in the United States. competition regulator has raised concerns abouta planned $1.0 billion takeover of Murray Goulburn Co-operative MGC.AX by Canada's Saputo Inc SAP.TO , threatening a dealAustralia's largest dairy processor says is key to its survival. economy minister met with top U.S. trade officialson Wednesday midway through the latest push to renegotiate theNAFTA trade deal, as concerns about steel added to tensionsbetween the two countries. No.2 marijuana producer Aurora Cannabis Inc ACB.TO on Wednesday received final regulatory approval for thepurchase of smaller rival CanniMed Therapeutics Inc CMED.TO ,which would make it the world's most valuable weed producer. RESEARCH HIGHLIGHTS RCH/CA
Laurentian Bank of Canada LB.TO : TD Securities cuts targetprice to C$58 from C$64
Valeant Pharmaceuticals International Inc (NYSE:VRX) VRX.TO : PiperJaffray cuts target price to $10 from $12
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1306.2; -0.71 percent GOL/
US crude CLc1 : $61.17; -0.76 percent O/R
Brent crude LCOc1 : $64.09; -0.99 percent O/R
LME 3-month copper CMCU3 : $6877; -0.78 percent MET/L
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Personal consumption real mm for Jan: Prior 0.3 pct
0830 Personal Income mm for Jan: Expected 0.3 pct; Prior 0.4pct
0830 Consumption, adjusted mm for Jan: Expected 0.2 pct;Prior 0.4 pct
0830 Core PCE price index mm for Jan: Expected 0.3 pct;Prior 0.2 pct
0830 Core PCE price index yy for Jan: Expected 1.5 pct;Prior 1.5 pct
0830 PCE price index mm for Jan: Prior 0.1 pct
0830 PCE price index yy for Jan: Prior 1.7 pct
0830 Initial jobless claims: Expected 226,000; Prior 222,000
0830 Jobless claims 4-week average: Prior 226,000
0830 Continued jobless claims: Expected 1.930 mln; Prior1.875 mln
0900 Dallas fed PCE for Jan: Prior 1.8 pct
1000 Construction spending mm for Jan: Expected 0.3 pct;Prior 0.7 pct
1000 ISM Manufacturing PMI for Feb: Expected 58.7; Prior59.1
1000 ISM Manufacturing Prices Paid for Feb: Expected 70.5;Prior 72.7
1000 ISM Manufacturing Employment Index for Feb: Prior 54.2
1000 ISM Manufacturing New Orders Index for Feb: Prior 65.4
1530 Domestic car sales for Feb: Expected 4.33 mln; Prior4.11 mln
1530 Total vehicle sales for Feb: Expected 17.20 mln; Prior17.12 mln
1530 Domestic truck sales for Feb: Expected 9.00 mln; Prior9.18 mln
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