Markets

TSX May Open Higher on U.S. Tax Cut Hopes

Using a smartphone to calculate data

Canada's benchmark index looked set to open higher on Friday after the U.S. Senate passed a "budget blueprint" that was a step in the direction of a $1.5 trillion tax cut program.

Stock futures for the December quarter on the S&P TSX index were up 0.2% recently.

Action Economics said the tax reform move sparked more confidence in risk assets at the expense of safety premiums, although risks remain manifold.

Meanwhile, Canada CPI grew at a 1.6% year-over-year pace in September following the 1.4% pace in August. Inflation growth remains below the Bank of Canada's 2.0% target, but it is moving in the desired direction.

The TSX gained 35 points on Thursday, led higher by financials.

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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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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