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Futures Up Slightly on Mfg. Data

May 16, 2018 ( via COMTEX) --

Canada's main stock index futures were slightly higher on Wednesday on word of manufacturing sales data for the month of March.

The S&P/TSX Composite Index gained 12.2 points to conclude Tuesday trading at 16,097.81

The Canadian dollar increased 0.06 cents to 77.73 cents U.S. early Wednesday

June futures nicked up 0.1% Wednesday

Finance Minister Bill Morneau will brief reporters on Wednesday about talks with Kinder Morgan Canada on possible aid for an oil pipeline project but will not be announcing a final decision.

Home Capital Group Inc said on Wednesday its unit received a two-year $500-million funding commitment that would replace a $2-billion credit facility offered by Warren Buffett's Berkshire Hathaway Inc.

RBC raised the price target on Linamar to $86.00 from $84.00

Canaccord Genuity raised the price target on to $3.75 from $3.50.

On the economic front, Statistics Canada reported manufacturing sales rose 1.4% to $57.1 billion in March. The agency says higher sales at primary metal, aerospace product and parts, fabricated metal product, and other transportation equipment industries were mostly responsible for the increase.


The TSX Venture Exchange fell 9.28 points, or 1.2%, Tuesday to 781.03


U.S. stock index futures pointed to a little changed open on Wednesday a day after the major index posted sharp losses on the back of rising interest rates.

Futures for the Dow Jones Industrial Average faded 11 points to 24,649

S&P 500 futures dipped 0.75 points to 2,708.25, while futures for the NASDAQ composite index eked up 1.75 points to 6,892.25

On the earnings front, Tencent, Macy's and Burberry are among the major companies expected to release their latest figures before the opening bell. Cisco Systems and Take-Two Interactive are poised to report earnings after the bell.

In data, housing starts and industrial production data for April are both scheduled to be released on Wednesday morning.

In Japan, the Nikkei 225 fell 0.4%, while in Hong Kong, the Hang Seng index sank 0.1%.

Oil prices faded 33 cents to $70.98 U.S. per barrel.

Gold prices slipped $4.10 to $1,286.20 U.S. an ounce.

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