August 15, 2019 / 11:28 AM / 2 months ago

CANADA STOCKS-TSX futures down as oil prices drop

Aug 15 (Reuters) - Futures pointed to a lower opening for Canada's main stock index on Thursday, as recession worries and rising U.S. crude inventories hurt oil prices.

September futures on the S&P/TSX index were down 0.35% at 7:15 a.m. ET.

The Toronto Stock Exchange S&P/TSX composite index closed down 304.90 points, or 1.86%, at 16,045.94 on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.43% at 7:15 a.m. ET, S&P 500 e-mini futures down 0.35% and Nasdaq 100 e-mini futures 0.73%.

TOP STORIES

Canopy Growth Corp, reported weaker-than-expected quarterly revenue on Wednesday, as the company sold lower volumes of medical cannabis, sending its U.S.-listed shares down 10% in extended trading.

ANALYST RESEARCH HIGHLIGHTS

Capreit: CIBC raises target price to C$53 from C$52

Freshii Inc: CIBC raises rating to neutral from underperformer

Metro Inc: RBC raises target price to C$55 from C$52

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1522.3; +0.25%

US crude: $54.2; -1.86%

Brent crude: $58.08; -2.35%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 NY Fed Manufacturing for Aug: Expected 3.00; Prior 4.3

0830 Initial jobless claims: Expected 214,000; Prior 209,000

0830 Jobless claims 4-week average: Prior 212,250

0830 Continued jobless claims: Prior 1.684 mln

0830 (approx.) Philly Fed Business Index for Aug: Expected 10.0; Prior 21.8

0830 (approx.) Philly Fed 6M Index for Aug: Prior 38.00

0830 (approx.) Philly Fed Capex Index for Aug: Prior 36.90

0830 (approx.) Philly Fed Employment for Aug: Prior 30.00

0830 (approx.) Philly Fed Prices Paid for Aug: Prior 16.10

0830 (approx.) Philly Fed New Orders for Aug: Prior 18.90

0830 Labor costs preliminary for Q2: Expected 2.0%; Prior -1.6%

0830 Productivity preliminary for Q2: Expected 1.5%; Prior 3.4%

0830 Retail sales ex-autos mm for Jul: Expected 0.4%; Prior 0.4%

0830 Retail sales mm for Jul: Expected 0.3%; Prior 0.4%

0830 Retail ex gas/autos for Jul: Prior 0.7%

0830 Retail control for Jul: Expected 0.3%; Prior 0.7%

0830 (approx.) Retail sales YoY for Jul: Prior 3.42%

0915 Industrial production mm for Jul: Expected 0.1%; Prior 0.0%

0915 Capacity utilization SA for Jul: Expected 77.8%; Prior 77.9%

0915 Manufacturing output mm for Jul: Expected -0.1%; Prior 0.4%

0915 (approx.) Industrial production YoY for Jul: Prior 1.32%

1000 Business inventories mm for Jun: Expected 0.1%; Prior 0.3%

1000 Retail inventories ex-auto revenue for Jun: Prior -0.1%

1000 NAHB Housing Market Index for Aug: Expected 65; Prior 65

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$1.33 Reporting by Siddharth Athreya V in Bengaluru; Editing by Shinjini Ganguli

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