CANADA STOCKS-TSX set for lower open on Fed comments, weaker oil

Wed Apr 4, 2012 8:45am EDT
 
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April 4 (Reuters) - Commodity prices are seen dragging Toronto stocks lower at the open on Wednesday, after the Federal Reserve toned down expectations for further stimulus, though stronger-than-expected U.S. ADP employment data helped offset some of the negative tone.

FACTORS TO WATCH

* Canadian equity futures pointed to a lower open.

* U.S. stock index futures slightly pared losses after ADP employment data showed private sector employment grew by 209,000 jobs, just above Wall Street expectations.

* Europe's top shares fell as economic data out of Europe fueled recession fears and flagging demand for Spanish government bonds gave bearish investors the incentive to bank recent profits.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, fell 0.96 percent in early trade.   Continued...