July 18 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Wednesday, gaining strength from U.S. Federal Reserve Chairman Jerome Powell's upbeat view on the strength of the world's largest economy.
Powell, in his congressional testimony on Tuesday, said he believed the United States was on course for years of steady growth and played down the risks to the economy from an escalating trade dispute. futures on the S&P/TSX index SXFc1 were up 0.07 percent at 7:15 a.m. ET.
On Tuesday, Toronto Stock Exchange S&P/TSX composite index .GSPTSE closes up 24.51 points, or 0.15 percent, at 16,519.24. Jones Industrial Average e-mini futures 1YMc1 were up 0.04 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.02 percent and Nasdaq 100 e-mini futures NQc1 were down 0.07 percent. .N
TOP STORIES TOP/CAN
Canada's housing agency has asked the country's tax authority to take a "more direct and formal role" verifying income claimed on mortgage applications, part of a two-year plan to tackle mortgage fraud, documents obtained by Reuters show. Finance Minister Bill Morneau is set to stay in his post when Prime Minister Justin Trudeau shuffles his cabinet, which could be as early as this week, political sources said on Tuesday. RESEARCH HIGHLIGHTS RCH/CA
Arizona Mining Inc AZ.TO Raymond James cuts to market perform from outperform
Centerra Gold Inc CG.TO RBC cuts to underperform from sector perform
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,227.7; -0.33 pct GOL/
US crude CLc1 : $71.39; -0.76 pct O/R
Brent crude LCOc1 : $67.85; -0.72 pct O/R
LME 3-month copper CMCU3 : $6,109.50; -0.67 pct MET/L
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Building permits: number for Jun: Expected 1.330 mln; Prior 1.301 mln
0830 Build permits: change mm for Jun: Prior -4.6 pct
0830 Housing starts number for Jun: Expected 1.320 mln; Prior 1.350 mln
0830 House starts mm: change for Jun: Prior 5.0 pct
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Canadian markets directory CANADA
($1= C$1.32)