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CANADA STOCKS-Futures lower as oil prices fall on rising output
June 14, 2017 / 11:53 AM / 6 months ago

CANADA STOCKS-Futures lower as oil prices fall on rising output

June 14 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday as oil prices declined after data showed an increase in U.S. crude stockpiles and the OPEC reported a rise in production.

September futures on the S&P TSX index were down 0.06 percent at 7:15 a.m. ET.

Canada’s main stock index inched lower on Tuesday, weighed by slips among heavyweight financial stocks and losses for some base metal miners, while Shaw Communications Inc gained after deals to sell its data center business and buy wireless airwaves.

Investors will also keep an eye on the outcome of the U.S. Federal Reserve’s policy meeting, where it is widely expected to raise interest rates. The Fed will release its decision at 2:00 p.m. ET (1600 GMT).

Dow Jones Industrial Average e-mini futures were up 0.16 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.11 percent and Nasdaq 100 e-mini futures were up 0.23 percent.

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TOP STORIES

Thomson Reuters Corp plans to release a tool on Wednesday that will allow customers to plug its market data into systems that run on the digital ledger technology known as blockchain.

ANALYST RESEARCH HIGHLIGHTS

Canopy Growth Corp: Cowen and Co cuts target price to C$10 from C$15

Petrus Resources Ltd: National Bank starts coverage with “outperform” rating, C$3 target price

Hudson’s Bay Co: Cowen and Co cuts price target to C$9 from C$12; rating “market perform”

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,267.1; +0.02 pct

US crude: $45.91; -0.55 pct

Brent crude: $48.53; -0.52 pct

LME 3-month copper: $5,710.50; -6.50 pct

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Core CPI mm, SA for May: Expected 0.2 pct; Prior 0.1 pct

0830 Core CPI yy, NSA for May: Expected 1.9 pct; Prior 1.9 pct

0830 CPI Index, NSA for May: Expected 244.91; Prior 244.52

0830 Core CPI Index, SA for May: Prior 251.17

0830 CPI mm, SA for May: Expected 0.0 pct; Prior 0.2 pct

0830 CPI yy, NSA for May: Expected 2.0 pct; Prior 2.2 pct

0830 Real weekly earnings mm for May: Prior 0.4 pct

0830 Retail sales ex-autos mm for May: Expected 0.2 pct; Prior 0.3 pct

0830 Retail sales mm for May: Expected 0.1 pct; Prior 0.4 pct

0830 Retail ex gas/autos for May: Prior 0.3 pct

0830 Retail control for May: Expected 0.3 pct; Prior 0.2 pct

1000 Business inventories mm for April: Expected -0.2 pct; Prior 0.2 pct

1000 Retail inventory ex auto (R) for Apr: Prior -0.2

1100 Cleveland fed CPI for May: Prior 0.1 pct

1100 TR IPSOS PCSI for June: Prior 61.52

1400 Fed funds target rate: Expected 1.125 pct; Prior 0.875 pct

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 = C$1.32) (Reporting by Benny Thomas in Bengaluru; Editing by Saumyadeb Chakrabarty)

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