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CANADA STOCKS-TSX futures indicate lower open ahead of GDP data
May 30, 2014 / 11:23 AM / 4 years ago

CANADA STOCKS-TSX futures indicate lower open ahead of GDP data

May 30 (Reuters) - Canadian stocks looked set to open slightly lower on Friday, tracking weakness in global markets as investors remained on the sidelines ahead of next week’s European Central Bank policy meeting.

June futures on the S&P TSX index <0#SXF:> were down 0.06 percent at 0715 ET.

Producer prices and growth data are due at 0830 ET. The country’s first-quarter GDP is expected to show a 1.8 percent annualized growth rate after the 2.9 percent growth registered in the fourth quarter of last year.

Shares closed lower on Thursday, hurt by a decline in Canadian Imperial Bank of Commerce after it reported quarterly results, while Royal Bank of Canada and other major banks also fell.

Dow Jones Industrial Average futures were down 0.1 percent at 0715 ET, while S&P 500 futures were down 0.08 percent and Nasdaq 100 futures were down 0.01 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Canadian National Railway CEO Claude Mongeau said on Thursday he expects U.S. regulators to phase out use of DOT-111 tank cars in three to five years, following a deadly explosion in Quebec last year.

COMMODITIES AT 0715 ET

Gold futures : $1,252.9; -0.31 pct

US crude : $103.15; -0.42 pct

Brent crude : $109.71; -0.24 pct

LME 3-month copper : $6,900.00; +0.23 pct

ANALYST RESEARCH HIGHLIGHTS

Bank of Nova Scotia : CIBC raises rating to sector outperformer from sector performer

Canadian Imperial Bank of Commerce : KBW, NBF raise target price

Royal Bank of Canada : CIBC cuts rating to sector performer from sector outperformer

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Personal consumption real mm for April: Prior +0.7 pct

0830 Personal income mm for April: Expected +0.3 pct, prior +0.5 pct

0830 Consumption, adjusted mm for April: Expected +0.2 pct, prior +0.9 pct

0830 Core PCE price index yy for April: Prior +1.2 pct

0830 PCE Price index mm for April: Prior +0.2 pct

0830 Core PCE price index mm for April: Expected +0.2 pct, prior +0.2 pct

0830 PCE price index yy for April: Prior +1.1 pct

0945 Chicago PMI for May: Expected +61.0, prior +63.0

0955 U Mich sentiment final for May: Expected +82.5, prior +81.8

0955 U Mich conditions final for May: Expected +95.8, prior +95.1

0955 U Mich expectations fin for May: Expected +74.0, prior +73.2

0955 U Mich 1Yr inflation fin for May: Prior +3.2 pct

0955 U Mich 5-Yr inflation F for May: Prior +2.8 pct

1030 ECRI weekly index: Prior +135.1

1030 ECRI weekly annualized: Prior +5.0 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= $1.08 Canadian Reporting by Mononshila Deka in Bangalore; Editing by Savio D'Souza

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