TSX may open lower on deadlock over US debt accord

Fri Jul 29, 2011 8:31am EDT
 
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July 29 (Reuters) - Toronto's main stock index looked set to open lower on Friday as U.S. lawmakers failed to break a deadlock on an agreement to avert a catastrophic debt default, sending equity investors into safe havens.

FACTORS TO WATCH

* Canadian equity futures <0#SXF:> pointed to a lower open.

* U.S. stock index futures fell after lawmakers in Washington delayed a vote on a Republican proposal to raise the U.S. government's debt limit. [.N]

* European stocks dropped, extending their weeklong slide as U.S. lawmakers failed to break a deadlock over raising the debt ceiling, fuelling fears of a default by the world's biggest economy. [.EU]

* Asian markets fell with Tokyo shares falling for a third straight-day on a crumbling earnings outlook from Nintendo. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

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COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.48 percent in early trade.   Continued...