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TSX futures rise ahead of Trudeau's address over COVID-19 outbreak

Credit: REUTERS/MARK BLINCH

Futures for Canada's main stock index rose on Wednesday ahead of Prime Minister Justin Trudeau's announcement of a what he says is a far-reaching plan to address the economic pain due to the COVID-19 pandemic.

Sept 23 (Reuters) - Futures for Canada's main stock index rose on Wednesday ahead of Prime Minister Justin Trudeau's announcement of a what he says is a far-reaching plan to address the economic pain due to the COVID-19 pandemic.

Trudeau will appear in a rare evening national broadcast at 6:30 p.m. ET (2230 GMT) on Wednesday to talk about "the urgency of fighting COVID-19 as we face down the prospect of a second wave of the virus," the prime minister's office said.

December futures on the S&P/TSX index SXFc1 were up 0.67% at 7:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1.01% higher at 16,142.89 on Tuesday. .TO

Dow e-minis 1YMcv1 rose 223 points or 0.82% while S&P 500 e-minis EScv1 gained 15.25 points, or 0.50% and Nasdaq 100 e-minis NQcv1 were up 28.5 points, or 0.26%..N

TOP STORIES TOP/CAN

Ford Motor Co F.N will invest C$1.95 billion ($1.46 billion) in its Oakville and Windsor plants in Canada as part of a tentative deal with Canadian autoworkers, Unifor union National President Jerry Dias said on Tuesday.

Oil edged up to around $42 a barrel after a report said U.S. fuel inventories fell, although rising crude supply and growing numbers of coronavirus cases that raise concern of stalling demand capped gains.

COMMODITIES AT 7:30 a.m. ET

Gold futures GCc2: $1,885.6; -0.72% GOL/

US crude CLc1: $39.91; +0.25% O/R

Brent crude LCOc1: $41.91; +0.46% O/R

U.S. ECONOMIC DATA DUE ON WEDNESDAY

Flash readings of a survey on U.S. business activity due later in the day.

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$1.33)

(Reporting by Shashank Nayar in Bengaluru; Editing by Maju Samuel)

((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))

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

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