CANADA STOCKS-TSX futures flat as commodity weakness offsets debt ceiling deal optimism
May 18 (Reuters) - Futures for Canada's main stock index were flat on Thursday as weak commodity prices offset investor optimism after encouraging signs emerged from the U.S. debt ceiling talks.
June futures on the S&P/TSX index were down 0.03% at 7:03 a.m. ET.
Oil and bullion prices were lower as a stronger U.S. dollar made the commodities more expensive for consumers holding other currencies.
Global markets traded higher after U.S. President Joe Biden and U.S. Congressional Republican Kevin McCarthy reiterated their determination to reach a deal soon to ensure the U.S. avoids defaulting on its trillion-dollar debt obligations.
Among company news, Canada Goose Holdings Inc, forecast strong annual sales, betting that a sharp rebound in key luxury market China would help the maker of luxury winterwear. Canada Goose's U.S. listed shares added 3.7% premarket.
Onex Corp's WestJet Group said it will cancel flights in anticipation of a pilots' strike after a faceoff this week between the airline and pilots over pay.
Brokerage National Bank of Canada upgraded its rating on equipment marketplace Ritchie Bros Auctioneers Inc to "outperform" from "sector perform".
In the previous session, the Toronto Stock Exchange's S&P/TSX composite index ended 0.3% higher aided by gains in the energy and financial sectors.
Dow e-minis were up 66 points, or 0.2% at 7:03 a.m. ET, while S&P 500 e-minis were up 11.25 points, or 0.27%, and Nasdaq 100 e-minis were up 32.5 points, or 0.24%.
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,980; -0.2%
US crude: $72.68; -0.2%
Brent crude: $76.82; -0.2%
U.S. ECONOMIC DATA DUE ON THURSDAY
Initial weekly jobless claims due at 8:30 a.m. ET
April existing home sales due at 10 a.m. ET
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1 = 1.3372 Canadian dollars) (Reporting by Johann M Cherian in Bengaluru; Editing by Pooja Desai)
