Renewable Energy

TSX futures edge higher ahead of Fed decision

Credit: REUTERS/CHRIS HELGREN

Stock futures for Canada's main index edged higher on Wednesday ahead of the U.S. Federal Reserve's decision on interest rates.

June 19 (Reuters) - Stock futures for Canada's main index edged higher on Wednesday ahead of the U.S. Federal Reserve's decision on interest rates.

The Fed is expected to leave interest rates on hold but would flag whether it plans to cut rates later this year in line with the general expectation of investors.

The policy statement and new economic projections are to be released at 2 p.m. ET, followed by a press conference by Powell at 2:30 p.m.

June futures on the S&P/TSX index SXFc1 were up 0.14% at 7:00 a.m. ET.

Statistics Canada's data at 8:30 a.m. ET. is expected to show annual inflation rate edged up to 2.1% in May from 2% in the previous month.

The Toronto Stock Exchange's S&P/TSX .GSPTSE rose 149.90 points, or 0.92%, to 16,503.35 on Tuesday.

Dow Jones Industrial Average e-mini futures 1YMc1 edged up 0.06% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.01% and Nasdaq 100 e-mini futures NQc1 gained 0.04%. .N

TOP STORIES TOP/CAN

Canada on Tuesday approved as expected a hotly contested proposal to expand the western Canadian crude oil pipeline it bought last year, providing hope for a depressed energy industry but angering environmental groups.

Canadian Prime Minister Justin Trudeau will seek to further mend fences when he meets Donald Trump in Washington this week, a year after the U.S. president stormed out of a G7 meeting calling Trudeau "very dishonest and weak."

Canadian-listed Eco Atlantic EOG.V said it was not aware of any corruption probe in Guyana that would affect an offshore concession it has with partners Total TOTF.PA and Tullow Oil TLW.L.

ANALYST RESEARCH HIGHLIGHTS RCH/CA

Altus Group Ltd AIF.TO: CIBC raises price target to C$26 from C$23

Aphria Inc APHA.TO: Canaccord Genuity cuts price target to C$16 from C$18

Cobalt 27 Capital Corp KBLT.V: RBC cuts rating to sector perform from outperform

COMMODITIES AT 7:00 a.m. ET COM/WRAP

Gold futures GCc2: $1,343.2; -0.34% GOL/

US crude CLc1: $53.89; -0.02% O/R

Brent crude LCOc1: $61.7; -0.71% O/R

U.S. ECONOMIC DATA DUE ON WEDNESDAY

1400 Fed funds target rate for Jun: Expected 2.25-2.5%; Prior 2.25-2.5%

1400 Fed interest on excess reserves for Jun: Prior 2.35%

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$1.34)

(Reporting by Hrithik Kiran Bagade in Bengaluru; Editing by James Emmanuel)

((hrithik.bagade@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Renewable Energy Videos

Unique Green Investment Ideas on How to Fight Climate Change

An expert panel offered Bloomberg News investment ideas on how to fight climate change. On "Bloomberg Money Undercover", Bloomberg's Lisa Abramowicz and Suzanne Woolley discuss some of the highlights from the panel.

Feb 5, 2020

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More