Nov 22 (Reuters) - Futures pointed to a higher opening for Canada's main stock index on Wednesday as oil prices surged after faults on a major pipeline dented Canadian deliveries to the United States.
December futures on the S&P TSX index SXFc1 were up 0.16 percent at 7:15 a.m. ET.
Investors also awaited the scheduled release of minutes from the latest U.S. Federal Reserve meeting for hints on the future rate-hike path.
U.S. light crude hit highs not seen since July 2015, with traders attributing the jump to an 85 percent cut in the amount of oil TransCanada Corp TRP.TO will deliver to the United States on its Keystone pipeline through end-November. O/R
Canada's main stock index posted a 12-day high on Tuesday, helped by broad-based gains led by materials companies as copper prices climbed. Jones Industrial Average e-mini futures 1YMc1 were up 0.16 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.09 percent and Nasdaq 100 e-mini futures NQc1 were up 0.1 percent. .N
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TOP STORIES TOP/CAN
TransCanada Corp TRP.TO has told some customers that it will cut deliveries by 85 percent or more on its 590,000-barrel-per-day Keystone crude pipeline through to the end of November, according to three sources familiar with the matter. United States, Mexico and Canada failed to resolve any major differences in a fifth round of talks to rework the NAFTA trade deal, drawing a swift complaint from the Trump administration on Tuesday that the lack of progress could doom the process. Canadian government proposed on Tuesday mandatory health warnings and child-proof packaging as well as a licensing regime for all cannabis products in legislation ahead of the July 2018 legalization of recreational marijuana. RESEARCH HIGHLIGHTS RCH/CA
BRP Inc DOO.TO : Canaccord Genuity raises price target to C$51 from C$50
George Weston Ltd WN.TO : CIBC cuts price target to C$119 from C$123
Pan American Silver Corp PAAS.TO : Credit Suisse (SIX:CSGN) raises price target to C$25 from C$24
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1284.7; rose 0.28 percent GOL/
US crude CLc1 : $57.8; rose 1.71 percent O/R
Brent crude LCOc1 : $63.14; rose 0.91 percent O/R
LME 3-month copper CMCU3 : $6912; rose 0.04 percent MET/L
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Durable goods for Oct: Expected 0.3 pct; Prior 2.0 pct
0830 Durables ex-transport for Oct: Expected 0.5 pct; Prior 0.7 pct
0830 Durables ex-defense mm for Oct: Expected 0.9 pct; Prior 1.9 pct
0830 Nondefense cap ex-air for Oct: Expected 0.5 pct; Prior 1.7 pct
0830 Initial jobless claims: Expected 240,000; Prior 249,000
0830 Jobless claims 4-week average: Prior 237,750
0830 Continued jobless claims: Expected 1.882 mln; Prior 1.860 mln
1000 U Mich Sentiment Final for Nov: Expected 98.0; Prior 97.8
1000 U Mich Conditions Final for Nov: Expected 113.3; Prior 113.6
1000 U Mich Expectations Final for Nov: Expected 87.6; Prior 87.6
1000 U Mich 1 year inflation final for Nov: Prior 2.6 pct 1000 U Mich 5 year inflation final for Nov: Prior 2.5 pct
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($1=C$1.27)