US Markets

TSX futures slip ahead of Fed, BoC rate decisions

Credit: REUTERS/MARK BLINCH

Canada's main stock index futures inched lower on Wednesday, ahead of policy decisions from the U.S. Federal Reserve and the Bank of Canada.

Oct 30 (Reuters) - Canada's main stock index futures inched lower on Wednesday, ahead of policy decisions from the U.S. Federal Reserve and the Bank of Canada.

December futures on the S&P/TSX index SXFc1 were down 0.12% at 7:00 a.m. ET.

The Bank of Canada is expected to keep interest rates steady in its first policy announcement since the federal election. The decision is due out at 10:00 a.m. ET.

The U.S. Federal Reserve, meanwhile, is likely to announce a quarter-percentage-point cut to its overnight benchmark lending rate when it releases its latest policy statement at 02:00 p.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed 0.19% higher at 16,418.14 on Tuesday.

Dow Jones Industrial Average e-mini futures 1YMc1 were flat at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were 0.02% higher and Nasdaq 100 e-mini futures NQc1 were up 0.07%. .N

TOP STORIES TOP/CAN

South Korea's LS Nikko Copper signed a contract with Canada's First Quantum Minerals FM.TO to buy 120,000 tonnes per year of copper concentrate for 15 years starting in 2020, the South Korean copper smelter said.

ANALYST RESEARCH HIGHLIGHTS RCH/CA

Electronic Arts Inc EA.O: Credit Suisse raises target price to $118 from $115

KKR & Co Inc KKR.N: JMP Securities raises target price to $33 from $31

Lattice Semiconductor Corp LSCC.O: Jefferies raises target price to $22 from $19

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

Gold futures GCc2: $1495.4; +0.32% GOL/

US crude CLc1: $55.53; -0.02% O/R

Brent crude LCOc1: $61.71; +0.19% O/R

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0815 (approx.) ADP national employment for Oct: Expected 120,000; Prior 135,000

0830 GDP advance for Q3: Expected 1.6%; Prior 2.0%

0830 GDP sales advance for Q3: Expected 2.4%; Prior 3.0%

0830 GDP consumer spending advance for Q3: Prior 4.6%

0830 GDP deflator advance for Q3: Expected 1.9%; Prior 2.6%

0830 Core PCE prices advance for Q3: Expected 2.1%; Prior 1.9%

0830 PCE prices advance for Q3: Expected 2.0%; Prior 2.4%

1400 Fed funds target rate: Expected 1.5%-1.75%; Prior 1.75%-2%

1400 Fed int on excess reserves: Prior 1.80%

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$1.31)

(Reporting by Nayyar Rasheed in Bengaluru; Editing by Subhranshu Sahu)

((Email: nayyar.abdulrasheed@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.

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