September 12, 2019 / 11:46 AM / 5 days ago

CANADA STOCKS-Futures little changed as oil prices dip

Sept 12 (Reuters) - Futures for Canada’s main stock index were little changed on Thursday after oil prices fell, as a meeting of the OPEC+ alliance yielded no discussion about deepening supply cuts.

Also feeding bearish sentiment, the International Energy Agency, which advises industrial economies on energy policy, said surging U.S. output would make balancing the market “daunting” in 2020.

September futures on the S&P/TSX index were down 0.02% at 7:00 a.m. ET.

Canada’s new housing price index data for July is due at 8:30 a.m. ET.

The Toronto Stock Exchange S&P/TSX composite index rose 0.45% to 16,611.14 on Wednesday.

Dow Jones Industrial Average e-mini futures were up 0.19% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.13% and Nasdaq 100 e-mini futures were up 0.34%.

TOP STORIES

Canadian company Aurora Cannabis Inc pushed back its profitability timeline to fiscal 2020 on Wednesday after missing its earlier target of the fourth quarter, blaming the slow roll-out of retail outlets for recreational marijuana.

Enbridge Inc called on Canada’s energy regulator on Wednesday to ignore calls from some of its shippers and avoid intervening in the pipeline company’s contentious proposal to revamp contracts on its Mainline network.

ANALYST RESEARCH HIGHLIGHTS

Roots Corp: CIBC cuts price target to C$3 from C$4.50

TMX Group Ltd: Scotiabank raises price target to C$130 from C$122

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1503.8; + 0.48%

U.S. crude: $55.27; -0.86%

Brent crude: $60.13; -1.12%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Core CPI mm, SA for Aug: Expected 0.2%; Prior 0.3%

0830 Core CPI yy, NSA for Aug: Expected 2.3%; Prior 2.2%

0830 CPI Index, NSA for Aug: Expected 256.582; Prior 256.571

0830 Core CPI Index, SA for Aug: Prior 263.57

0830 CPI mm, SA for Aug: Expected 0.1%; Prior 0.3%

0830 CPI yy, NSA for Aug: Expected 1.8%; Prior 1.8%

0830 Real weekly earnings mm for Aug: Prior -0.3%

0830 (approx.) CPI mm NSA for Aug: Prior 0.170%

0830 (approx.) CPI Index SA for Aug: Prior 256.160

0830 Initial jobless claims: Expected 215,000; Prior 217,000

0830 Jobless claims 4-week average: Prior 216,250

0830 Continued jobless claims: Expected 1.690 mln; Prior 1.662 mln

1100 (approx.) Cleveland fed CPI for Aug: Prior 0.3%

1400 Federal budget for Aug: Expected -$195.00 bln; Prior -$120.00 bln

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$1.31) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Shounak Dasgupta)

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