TSX futures flat on Omicron fears

·2 min read
FILE PHOTO: A sign board displaying Toronto Stock Exchange stock information is seen in Toronto

(Reuters) - Futures for Canada's main stock index were subdued on Wednesday, as investors remained cautious amid renewed global restrictions to curb the spread of Omicron variant cases.

March futures on the S&P/TSX index were flat at 7:00 a.m. ET.

Markets have been volatile this month as the rising cases of Omicron variant of the coronavirus have forced countries to reinstate restrictions and refueled concerns about a slowdown in global economic recovery.

The Toronto Stock Exchange's S&P/TSX composite index ended 1.9% higher at 20,924.87 on Tuesday, its biggest gain since February. [.TO]

Dow e-minis were up 37 points, or 0.1%, at 7:00 a.m. ET, while S&P 500 e-minis were up 1.75 points, or 0.04% and Nasdaq 100 e-minis were down 8.75 points, or 0.05%. [.N]

TOP STORIES [TOP/CAN]

Canada's cloud-based service provider Dye & Durham Ltd said on Tuesday it will acquire Australia-listed Link Administration Holdings Ltd for about C$3.2 billion ($2.48 billion).

BlackBerry Ltd, beat Wall Street estimates for third-quarter revenue on Tuesday, helped by sustained demand for its cybersecurity and Internet of Things products.

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Bank of Montreal: CIBC cuts to "neutral" from "outperform"

Bank of Montreal: Scotiabank cuts to "sector perform" from "sector outperform"

Canadian National Railway Co: Scotiabank raises target price to C$166 from C$160

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1790.3; +0.13% [GOL/]

US crude: $71.35; +0.32% [O/R]

Brent crude: $74.03; +0.13% [O/R]

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Corporate profits revised for Q3 : Prior 4.2%

0830 GDP final for Q3 : Expected 2.1%; Prior 2.1%

0830 GDP sales final for Q3 : Prior 0.0%

0830 GDP cons spending final for Q3 : Prior 1.7%

0830 GDP deflator final for Q3 : Expected 5.9%; Prior 5.9%

0830 Core PCE prices final for Q3 : Expected 4.5%; Prior 4.5%

0830 PCE prices final for Q3 : Prior 5.3%

0830 National Activity Index for Nov : Prior 0.76

1000 Consumer Confidence for Dec : Expected 110.8; Prior 109.5

1000 Existing home sales for Nov : Expected 6.52 mln; Prior 6.34 mln

1000 Existing home sales percentage change for Nov : Prior 0.8%

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

($1= C$xx)

(Reporting by Amal S in Bengaluru; Editing by Krishna Chandra Eluri)

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