TSX set to open lower on global growth concerns

Fri Oct 10, 2014 7:38am EDT
 
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(Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday on mounting worries over the pace of global growth.

December futures on the S&P TSX index SXFc1 were down 0.37 percent at 0720 ET.

Employment data is due at 0830 ET ECONCA.

The country's main stock index .GSPTSE dropped sharply on Thursday as worries about the health of the global economy hit investor sentiment and shares of energy producers dived as oil prices fell.

Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.39 percent at 0720 ET on Friday, S&P 500 e-mini futures ESc1 were down 0.35 percent and Nasdaq 100 e-mini futures NQc1 were down 0.80 percent. [.N]

TOP STORIES [TOP/CAN]

The Canadian government stands ready to act to cool the housing market if necessary but does not see a housing bubble or the need for any dramatic moves, Finance Minister Joe Oliver said on Thursday.

With marijuana still illegal on a federal level in the United States, American investors in Canadian medical marijuana can be seen as violating the Controlled Substances Act, according to some U.S experts. And the use of the banking system to transfer the proceeds of such investments could be seen as money laundering.

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A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, June 23, 2014. REUTERS/Mark Blinch