Salem Radio Network News Wednesday, September 28, 2022

Business

TSX futures edge up ahead of U.S. inflation data

(Reuters) – Futures for Canada’s main stock index rose marginally on Wednesday, ahead of U.S. inflation data that will likely offer cues on the Federal Reserve’s policy tightening path.

September futures on the S&P/TSX index were up 0.1 % at 7:12 a.m. ET.

On Tuesday, the Toronto Stock Exchange’s S&P/TSX composite index ended down 90.87 points, or 0.5%, at 19,578.30, after four days of gains. [.TO]

U.S. inflation data for July is expected at 08:30 a.m. ET. The headline number is likely to fall, but analysts expect the Fed to hike rates again in its September meeting as it seeks to bring inflation within its target.

Gold futures were down 0.32%, while Brent slipped 1.3%. [GOL/] [O/R]

Dow e-minis were up 63 points, or 0.19% at 07:35 a.m. ET, while S&P 500 e-minis were up 10.25 points, or 0.25% and Nasdaq 100 e-minis were up 45.5 points, or 0.35%. [.N]

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Cineplex: Scotiabank assumes coverage with “sector outperform” rating and PT of C$16 vs C$20

Recipe Unlimited Corp: CIBC cuts to “tender” from “neutral”

Spartan Delta Corp: National Bank of Canada raises PT to C$22.5 from C$20

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,790; -0.38% [GOL/]

US crude: $88.93; -1.75% [O/R]

Brent crude: $94.62; -1.75% [O/R]

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

(Reporting by Johann M Cherian in Bengaluru; Editing by Vinay Dwivedi)

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