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TSX futures tick higher as gold prices gain

Credit: REUTERS/CHRIS HELGREN

Canada's main stock index future rose on Friday supported by firmer gold prices, as a jump in new coronavirus cases sent investors scurrying for safe havens.

July 17 (Reuters) - Canada's main stock index future rose on Friday supported by firmer gold prices, as a jump in new coronavirus cases sent investors scurrying for safe havens. Gold rose on Friday and was headed for its sixth consecutive weekly gain.

September futures on the S&P/TSX index SXFc1 were up 0.22% at 7:00 a.m. ET.

Data for Canada's wholesale trade for May is due at 8:30 a.m. ET

On Thursday, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.24% lower at 16,024.50.

Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.3% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.45% and Nasdaq 100 e-mini futures NQc1 were up 0.99%. .N

TOP STORIES TOP/CAN

Bank of Canada Governor Tiff Macklem's reassurance that interest rates will remain low for at least two years could unleash a wave of speculative demand in the country's hottest housing markets, realtors and mortgage brokers warned.

Canada's federal government will give the 13 provinces and territories more than C$19 billion ($14 billion) to help pay for the costs of restarting the economy after several months of COVID-19 pandemic lockdowns, the prime minister said on Thursday.

ANALYST RESEARCH HIGHLIGHTS RCH/CA

Hydro One Ltd H.TO: Credit Suisse raises target price to C$28 from C$26 Valens Company Inc. VLNS.TO: Eight Capital cuts price target to C$4.50 from C$6 Cogeco Communications Inc CCA.TO: TD Securities raises price target to C$110 from C$105

COMMODITIES AT 7:00 a.m. ET

Gold futures GCc2: $1,805.7; +0.3% GOL/

US crude CLc1: $40.53; -0.54% O/R

Brent crude LCOc1: $43.12; -0.58% O/R

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Building permits: number for Jun: Expected 1.290 mln; Prior 1.216 mln

0830 Build permits: change mm for Jun: Prior 14.1%

0830 Housing starts number for Jun: Expected 1.169 mln; Prior 0.974 mln

0830 House starts mm: change for Jun: Prior 4.3%

1000 U Mich Sentiment Preliminary for Jul: Expected 79; Prior 78.1

1000 U Mich Conditions Preliminary for Jul: Expected 86.5; Prior 87.1

1000 U Mich Expectations Preliminary for Jul: Expected 73.5; Prior 72.3

1000 U Mich 1 year inflation preliminary for Jul: Prior 3%

1000 U Mich 5-year inflation preliminary for Jul: Prior 2.5%

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$1.36)

(Reporting by Shivani Kumaresan in Bengaluru; Editing by Shinjini Ganguli)

((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780;))

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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