CANADA STOCKS-Futures trade higher ahead of economic data

Fri May 20, 2016 8:02am EDT
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May 20 (Reuters) - Canada's main stock index was set to open higher on Friday ahead of inflation and retail sales data.

The annual inflation rate is expected to have risen to 1.7 percent in April, bringing it closer to the Bank of Canada's 2 percent target. Core inflation, which strips out some volatile items, is expected to be more robust at 2.0 percent.

Canada retail sales for March are estimated to have dropped by 0.6 percent after rising for the past two months in a row.

Inflation and retail sales data are due at 8:30 a.m. ET .

June futures on the S&P TSX index were up 0.36 percent at 7:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index pared losses after hitting a one-week low earlier on Thursday as the materials group rose more than 2 percent, offsetting declines in the financial and industrial stocks.

Dow Jones Industrial Average e-mini futures were up 0.22 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.20 percent and Nasdaq 100 e-mini futures were up 0.31 percent.

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