(Reuters) – Futures for Canada’s main stock index fell on Friday as commodity prices weakened, while Russia’s invasion of Ukraine kept investors on edge.
March futures on the S&P/TSX index were down 0.3% at 7:00 a.m. ET.
U.S. crude prices were down 0.7% a barrel and Brent crude lost 0.9%, while gold futures fell 1.1% to $1,904.8 an ounce. [O/R]
Missiles pounded Ukraine’s capital on Friday as Russian forces pressed their advance and authorities in Kyiv said they were preparing for an assault aimed at overthrowing the government.
Canada’s budget balance data for December is due at 11:00 a.m. ET.
The benchmark index was on course to end the week with losses of over 1%, as geopolitical tensions between Russia and Ukraine have roiled markets over the week.
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.1% higher at 20,761.93 on Thursday, its first higher close in six trading days. [.TO]
Dow e-minis were down 250 points, or 0.75% at 7:00 a.m. ET, while S&P 500 e-minis lost 34 points, or 0.79% and Nasdaq 100 e-minis fell 79.5 points, or 0.57%. [.N]
TOP STORIES [TOP/CAN]
Canadian Imperial Bank of Commerce beat analysts’ estimates for quarterly earnings on Friday, as adjusted profit rose 14% from a year-ago period as the lender saw lower provisions and higher revenue across its units.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Bombardier: Scotiabank raises to “sector outperform” from “sector perform”
Crombie REIT: Canaccord Genuity raises to “buy” from “hold”
Loblaw Companies Ltd: CIBC raises target price to C$120 from C$116
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1900.8; -1.32% [GOL/]
US crude: $92.17; -0.69% [O/R]
Brent crude: $98.12; -0.97% [O/R]
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Personal income mm for Jan: Expected -0.3%; Prior 0.3%
0830 Personal consumption real mm for Jan: Prior -1.0%
0830 Consumption, adjusted mm for Jan: Expected 1.5%; Prior -0.6%
0830 Core PCE price index mm for Jan: Expected 0.5%; Prior 0.5%
0830 Core PCE price index yy for Jan: Expected 5.1%; Prior 4.9%
0830 PCE price index mm for Jan: Prior 0.4%
0830 PCE price index yy for Jan: Prior 5.8%
0830 Durable goods for Jan: Expected 0.8%; Prior -0.7%
0830 Durables ex-transport for Jan: Expected 0.4%; Prior 0.6%
0830 Durables ex-defense mm for Jan: Expected 0.1%; Prior 0.3%
0830 Nondefense cap ex-air for Jan: Expected 0.5%; Prior 0.3%
1000 U Mich Sentiment Final for Feb: Expected 61.7; Prior 61.7
1000 U Mich Conditions Final for Feb: Prior 68.5
1000 U Mich Expectations Final for Feb: Prior 57.4
1000 U Mich 1 year inflation final for Feb: Prior 5.0%
1000 U Mich 5-year inflation final for Feb: Prior 3.1%
1000 Pending Homes Index for Jan: Prior 117.7
1000 Pending sales change mm for Jan: Expected 1.0%; Prior -3.8%
1200 Dallas fed PCE for Jan: Prior 3.9%
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= C$1.28)
(Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)
