Contracts tied to gold prices were also little changed and precious and base metal prices remained subdued as markets awaited U.S. personal consumption expenditures (PCE) data, due at 8:30 a.m. ET.
The PCE data will offer clues on the outlook for interest rate hikes and the strength of the U.S. dollar. [GOL/] [MET/L]
Oil prices were stable, but on course for their weakest performance since November. [O/R]
Canadian gross Domestic Product data (GDP), due at 8:30 a.m. ET, is expected to reflect a 0.3% rise in January, according to a Reuters poll of economists, compared with a 0.1% fall in the previous month.
March futures on the S&P/TSX index were up 0.08% at 7:04 a.m. ET.
In company news, Rogers (NYSE:ROG) Communications Inc’s C$20 billion ($15 billion) bid for Shaw Communications (NYSE:SJR) Inc is expected to gain government approval after the telecom firm agreed to sell Freedom Mobile to Quebecor for C$2.85 billion, as per a report.
Enbridge (NYSE:ENB) Inc and Norway’s Yara International (OTC:YARIY) ASA said they are planning to invest up to $2.9 billion to build a low-carbon blue ammonia production plant in Texas.
First Quantum Minerals (OTC:FQVLF) Ltd and Rio Tinto (NYSE:RIO) Ltd will form a joint venture to develop the La Granja copper project in Peru, with the Canadian miner buying a 55% stake in the project.
In the previous session, the Toronto Stock Exchange’s S&P/TSX composite index ended 0.5% higher, underpinned by gains in commodity-linked stocks. (TO)
Dow e-minis were up 71 points, or 0.21%, at 7:04 a.m. ET, while S&P 500 e-minis were up 7 points, or 0.17%, and Nasdaq 100 e-minis were down 4.25 points, or 0.03%. [.N]
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,986.8; -0.09% [GOL/]
US crude: $74.86; +0.64% [O/R]
Brent crude: $79.4; +0.3% [O/R]
U.S. ECONOMIC DATA DUE ON FRIDAY
Feb Personal Consumption Expenditure data due at 8:30 am ET
March University of Michigan Consumer Sentiment due at 10:00 am ET
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report (TO)
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1 = 1.3538 Canadian dollars)
Source: Economy - investing.com
