Feb 7 (Reuters) - Canada's main stock index was set to open higher on Tuesday, reversing losses from the previous session, ahead of economic data including trade balance and building permits.
The country's December trade surplus is expected to have narrowed after posting its first surplus in more than two years in November. Also, markets will watch to see if exports can maintain their strength, as the sector has been a key one for the Bank of Canada's outlook. The data is due at 8:30 a.m. ET.
Canada's building permits, scheduled for release at 8:30 a.m. ET, are forecast to have dropped by 4 percent in December, extending November's slight decline.
Ivey PMI data for January is due at 10:00 am ET. ECONCA
March futures on the S&P TSX index SXFc1 were up 0.3 percent at 7:15 a.m. ET.
Canada's main stock index ended lower on Monday, as heavyweight energy stocks weighed with a fall in oil prices, while gold miners caught a boost from bullion jumping to its highest in nearly three months on political uncertainty. Jones Industrial Average e-mini futures 1YMc1 were up 0.32 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.26 percent and Nasdaq 100 e-mini futures NQc1 were up 0.24 percent. .N
(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
WestJet Airlines Ltd WJA.TO reported a higher-than-expected quarterly profit as the Canadian carrier flew more passengers. RESEARCH HIGHLIGHTS RCH/CA
AltaGas Ltd ALA.TO : CIBC raises target price to C$39 from C$37
Auryn Resources AUG.TO : Canaccord Genuity starts coverage with a "speculative buy" rating
Open Text OTC.TO : Barclays (LON:BARC) cuts target price to C$53 from C$101; rating "overweight"
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1229.3; -0.06 percent GOL/
US crude CLc1 : $52.79; -0.42 percent O/R
Brent crude LCOc1 : $55.5; -0.39 percent O/R
LME 3-month copper CMCU3 : $5814; -0.55 percent MET/L
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 International trade mm for Dec: Expected -$45.0 bln; Prior -$45.2 bln
1000 JOLTS job openings for Dec: Expected 5.568 mln; Prior 5.522 mln
1500 Consumer credit for Dec: Expected 20.00 bln; Prior 24.53 bln
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 ($1=C$1.32)