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Futures and Commodity Market News

Futures Flat at Oil Prices Slip

Dec 05, 2017 (Baystreet.ca via COMTEX) --

Canadian stock index futures were little changed on Tuesday amid a slight fall in oil prices and ahead of Canada's international trade report for October.

The S&P/TSX Composite Index slumped 69.94 points to close Monday at 15,969.03

The Canadian dollar gained 0.25 at 79.14 cents U.S. Tuesday morning.

December futures were down 0.1% Monday.

Bank of Montreal on Tuesday reported a decline in quarterly earnings due to higher reinsurance claims following hurricanes that hit parts of the United States and Puerto Rico.

Bank of Nova Scotia said on Tuesday that Banco Bilbao Vizcaya Argentaria S.A. (BBVA) has formally accepted its offer to buy the Spanish lender's stake in BBVA Chile for about $2.2 billion.

Kinder Morgan Canada said on Monday the start-up of its Trans Mountain pipeline expansion could be delayed past September 2020 if it is unable to get more clarity around permitting and the judicial process by early next year.

Credit Suisse cut the rating on Lundin Mining to neutral

RBC raised the rating on First Quantum Minerals to outperform from sector perform

BMO resumes coverage on Killam Apartment REIT with an outperform rating

BMO raised the rating on Tamarack Valley Energy to outperform from market perform

Eight Capital cut the rating on National Bank of Canada to neutral from buy

On the data beat, Statistics Canada reported that Canada's international merchandise trade deficit with the world totaled $1.5 billion in October, narrowing from a $3.4-billion deficit in September. Exports were up 2.7% while imports decreased 1.6%

ON BAYSTREET

The TSX Venture Exchange faded 1.56 points Monday to 787.44

ON WALLSTREET

U.S. stock index futures pointed to a higher open on Tuesday, as investors turned their attention to new data and earnings, while keeping an eye on key domestic news.

Futures for the Dow Jones Industrials picked up 64 points, or 0.3%, to 24,369

S&P 500 futures advanced five points, or 0.2%, at 2,643.25, while futures on the NASDAQ Composite index inched up 0.25 points to 6,265.50

In earnings, AutoZone posted stronger-than-expected earnings, sending its stock higher. Meanwhile, Toll Brothers' stock slipped on weaker-than-forecast quarterly results.

Elsewhere in corporate news, Bloomberg reported that Bank of America plans to buy back an added $5 billion in stock. Bank of America shares jumped 1% in the pre-market following the report.

On the data front, international trade figures will come out at 8:30 a.m. ET, followed by services PMI (purchasing managers' index) data at 9:45 a.m. ET, and then the non-manufacturing Institute for Supply Management report on business and the Quarterly Financial Report at 10 a.m. ET.

Overseas, European stocks dipped slightly at noon local time, while Japan's Nikkei 225 capsized 0.4%, but in Hong Kong, the Hang Seng Index collapsed 1%

Oil prices sank 18 cents to $57.29 U.S. per barrel.

Gold prices fell two dollars to $1,275.70 U.S. an ounce.

********************************************************************** As of Friday, 12-01-2017 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated an UPTREND on 06-07-2012 for AZO @ $387.89. As of Friday, 1

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