Jan 31 (Reuters) - Futures for Canada's main stock index edged higher on Wednesday, a day after the index hit an over seven-week low, and ahead of GDP data.
The Canadian economy is forecast to have grown by 0.4 percent in November, regaining momentum after pausing in October. Analysts will look to see whether the details in the report, due at 8:30 a.m. ET, are strong enough to get fourth-quarter growth to the 2.5 percent pace the Bank of Canada anticipates.
March futures on the S&P TSX index SXFc1 were up 0.05 percent at 7:15 a.m. ET.
December producer prices data is also scheduled for release at 8:30 a.m. ET.
Canada's main stock index fell on Tuesday as the declining price of oil pulled shares of energy companies down for the second day in a row. Jones Industrial Average e-mini futures 1YMc1 were up 0.36 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.34 percent and Nasdaq 100 e-mini futures NQc1 were up 0.32 percent. .N
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TOP STORY TOP/CAN
U.S. private equity firm Blackstone (NYSE:BX) Group LP BX.N catapulted itself into the major leagues of Wall Street's financial information industry on Tuesday with the acquisition of a majority stake in the Financial and Risk business of Thomson Reuters Corp TRI.TO TRI.N . RESEARCH HIGHLIGHTS RCH/CA
Fairfax Financial Holdings Ltd FFH.TO : CIBC cuts price target to C$700 from C$725
Loblaw Companies Ltd L.TO : RBC cuts target price to C$84 from C$87
Thomson Reuters Corp TRI.TO : National Bank Of Canada cuts target price to C$60 from C$68
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,343.8; +0.49 pct GOL/
US crude CLc1 : $64.09; -0.64 pct O/R
Brent crude LCOc1 : $68.53; -0.71 pct O/R
LME 3-month copper CMCU3 : $7,144.00; +1.33 pct MET/L
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0815 ADP national employment for Jan: Expected 185000; Prior 250000
0830 Employment wages qq for Q4: Prior 0.7 pct
0830 Employment benefits qq for Q4: Prior 0.8 pct
0830 Employment costs for Q4: Expected 0.6 pct; Prior 0.7 pct
0945 Chicago PMI for Jan: Expected 64.1; Prior 67.6
1000 Pending Homes Index for Dec: Prior 109.5
1000 Pending sales change mm for Dec: Expected 0.4 pct; Prior 0.2 pct
1400 Fed funds target rate: Expected 1.375 pct; Prior 1.375 pct
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Canadian markets directory CANADA ($1= C$1.23)