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TSX futures up on U.S.-China trade deal hopes

Reuters

Feb 25 () - Futures pointed to a higher opening for Canada's main stock index on Monday on renewed hopes of a trade deal between the United States and China, after U.S. President Donald Trump said he would delay raising tariffs on Chinese imports.

Trump said he would meet Chinese President Xi Jinping to seal a deal if progress continued, hinting that the world's two biggest economies are closing in to end the trade war.

March futures on the S&P/TSX index were up 0.28 percent at 7:00 a.m. ET.

Dow Jones Industrial Average e-mini futures edged up 0.55 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.41 percent and Nasdaq 100 e-mini futures were up 0.59 percent.

TOP STORIES

Barrick Gold Corp offered to buy U.S. rival Newmont Mining Corp for nearly $18 billion in stock, in a deal that would combine the world's two largest gold producers.

ANALYST RESEARCH HIGHLIGHTS

Canfor Corp: RBC cuts price target to C$21 from C$23.

Magna International Inc: J.P. Morgan cuts to underweight from neutral.

Saputo Inc: National Bank of Canada raises price target to C$46 from C$44.

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,329.1; -0.05 pct

US crude: $57.13; -0.23 ct

Brent crude: $66.72; -0.6 pct

U.S. ECONOMIC DATA DUE ON MONDAY

0830 National Activity Index for Jan: Prior 0.27

1000 Wholesale inventory, R mm for Dec: Expected 0.2 pct

1000 Wholesale sales mm for Dec: Prior -0.6 pct

1030 Dallas Fed Manufacturing Business Index for Feb: Prior 1.00

($1= C$1.31)


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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