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