September 23, 2016 / 11:47 AM / 10 months ago

CANADA STOCKS-Futures pull back after Fed-led rally

3 Min Read

Sept 23 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday following strong sessions after the U.S. Federal Reserve's decision to push back on its next rate increase.

December futures on the S&P TSX index were down 0.04 percent at 7:10 a.m. ET.

Canada's inflation and retail sales data are due at 8:30 a.m. ET.

The country's annual inflation rate is expected to have risen to 1.4 percent in August.

Retail sales likely rose 0.1 percent in July.

Shares of energy and financial companies led a broad rally on Canada's main stock index on Thursday as oil prices rose and investors digested the Fed's more cautious approach to future rate hikes.

Dow Jones Industrial Average e-mini futures were down 0.09 percent at 7:15 a.m. ET. S&P 500 e-mini futures fell 0.14 percent and Nasdaq 100 e-mini futures inched lower 0.13 percent.

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

Top Stories

The share of homes purchased in British Columbia by foreign buyers decreased as of the end of August, data from the provincial government showed on Thursday, suggesting a new tax in the city of Vancouver was discouraging overseas buyers.

China's central bank said the National Bank Of Canada has been approved to issue up to 5 billion yuan ($750 million) of RMB-denominated bonds in the country's interbank bond market.

Analyst Research Highlights

Cascades Inc : RBC raises price target to C$15 from C$11

Goldcorp Inc : Raymond James cuts target price to $22 from $24

Tahoe Resources Inc : Raymond James raises target price to C$24.5 from C$22.25

COMMODITIES AT 7:10 a.m. ET

Gold futures : $1,337.4; -0.25 pct

US crude : $46.39; +0.15 pct

Brent crude : $48.04; +0.82 pct

LME 3-month copper : $4,843.50; -0.2 pct

u.s. Economic Data Due on Friday

0945 Markit Manufacturing PMI Flash for September: Expected 51.9; Prior 52.0

1030 ECRI Weekly Index: Prior 139.6

1030 ECRI weekly annualized: Prior 8.7 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 = C$1.30) (Reporting by Astha Rawat in Bengaluru; Editing by Maju Samuel)

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