Credit: REUTERS/MARK BLINCHOct 28 (Reuters) - Canada's main futures stock index fell on Wednesday, weighed down by weaker oil prices, while investors awaited the country's central bank announcing its interest rate decision later in the day.
Brent crude LCOc1 futures fell 3.59%, while U.S. West Texas Intermediate (WTI) crude CLc1 futures shed 4.27%, as a surge in U.S. crude stocks and rising coronavirus infections in the United States and Europe fanned fears of a supply glut and weaker fuel demand.
December futures on the S&P/TSX index SXFc1 were down 0.92% at 7:00 a.m. ET.
The Bank of Canada is scheduled to announce its interest rate decision for October at 10:00 a.m. ET, and is expected to hold it at 0.25%.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.36% lower at 16,020.94 on Tuesday.
Dow Jones Industrial Average e-mini futures 1YMc1 were down 1.66% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 1.39% and Nasdaq 100 e-mini futures NQc1 were down 1.14%.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Airboss of America Corp BOS.TO: Cormark Securities raises target to C$34 from C$32
Mainstreet Equity Corp MEQ.TO: Canaccord Genuity initiates with "buy" rating and price target C$91
West Fraser Timber Co Ltd WFT.TO: RBC raises target price to C$90 from C$85
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1894; -0.8% GOL/
US crude CLc1: $37.88; -4.27% O/R
Brent crude LCOc1: $39.72; -3.59% O/R
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Advance goods trade balance for Sep: Prior -83.11 bln
0830 Wholesale inventories advance for Sep: Prior 0.4%
0830 Retail inventories ex-auto advance for Sep: Prior 0.5%
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)
(Reporting by Amal S in Bengaluru; Editing by Rashmi Aich)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
