July 15, 2016 / 1:12 PM / a year ago

CANADA STOCKS-Futures track gains in oil prices

5 Min Read

(Updates with economic data)

July 15 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Friday as oil prices recovered early losses after strong U.S. economic data.

The U.S. Commerce Department said retail sales increased 0.6 percent last month after a downwardly revised 0.2 percent gain in May. It was the third straight month of gains.

The U.S. Labor Department said its Consumer Price Index rose 0.2 percent last month after a similar gain in May. In the 12 months through June, the CPI advanced 1 percent.

Canadian manufacturing sales fell 1 percent in May from April, the third decline in five months, in part due to disruptions caused by Alberta wildfires and an earthquake in Japan, Statistics Canada said on Friday.

September futures on the S&P TSX index were up 0.14 percent at 8:45 a.m. ET.

Canada's main stock index rose to a fresh 11-month high on Thursday as heavyweight banking stocks benefited after U.S. bank JPMorgan Chase reported strong loan growth and rising oil prices boosted energy stocks.

Dow Jones Industrial Average e-mini futures were up 0.14 percent at 8:45 a.m. ET, S&P 500 e-mini futures were up 0.15 percent and Nasdaq 100 e-mini futures were up 0.05 percent.

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

Top Stories

Shaw Communications Inc's quarterly profit more than tripled, boosted by the purchase of wireless company Wind Mobile and a gain from the sale of its media assets to Corus Entertainment Inc.

Canada's Enbridge and Australia's Macquarie are vying for a 49.9 percent stake in EnBW's EBKG.DE 2 billion euro ($2.23 billion) offshore wind park project Hohe See, three people familiar with the deal told Reuters.

Valeant Pharmaceuticals International Inc's experimental drug to treat the skin disorder psoriasis carries several potential risks that are challenging to assess due to limited controlled data, a preliminary review by the U.S. Food and Drug Administration.

COMMODITIES AT 8:45 a.m. ET

Gold futures : $1,331.70; +0.03 pct

US crude : $46.12; +0.99 pct

Brent crude : $47.85; +1.01 pct

LME 3-month copper : $4,979; +0.77 pct

Analyst Research Highlights

Altus Group Ltd : TD Securities starts with "buy" rating; price target C$28

Canam Group Inc : Raymond James cuts price target to C$15 from C$19

Corus Entertainment Inc : RBC cuts price target to C$12 from C$13

u.s. Economic Data Due on Friday

0830 CPI mm, SA for Jun: Actual 0.2 pct; Prior 0.2 pct

0830 CPI yy, NSA for Jun: Actual 1.0 pct; Prior 1.0 pct

0830 Core CPI mm, SA for Jun: Actual 0.2 pct; Prior 0.2 pct

0830 Core CPI yy, NSA for Jun: Actual 2.3 pct; Prior 2.2 pct

0830 CPI Index, NSA for Jun: Actual 241.04; Prior 240.24

0830 Core CPI Index, SA for Jun: Actual 247.50; Prior 247.07

0830 Real weekly earnings mm for Jun: Actual -0.1 pct; Prior 0.0 pct

0830 NY General Business Condition Index for Jun: Actual 0.55 pct; Prior 6.01

0830 Retail sales mm for Jun: Actual 0.6 pct; Revised 0.2 pct

0830 Retail sales ex-autos mm for Jun: Actual 0.7 pct; Prior 0.4 pct

0830 Retail ex gas/autos for Jun: Actual 0.7 pct; Revised 0.2 pct

0830 Retail control for Jun: Actual 0.5 pct; Revised 0.5 pct

0915 Industrial output mm for Jun: Expected 0.2 pct; Prior -0.4 pct

0915 Capacity utilization mm for Jun: Expected 75.0 pct; Prior 74.9 pct

0915 Manufacturing output mm for Jun: Expected 0.2 pct; Prior -0.4 pct

1000 Business inventories mm for May : Expected 0.1 pct; Prior 0.1 pct

1000 U Mich Sentiment Preliminary for Jun: Expected 93.5; Prior 93.5

1000 U Mich Current Conditions Index-prelim for Jun: Expected 109.3; Prior 110.8

1000 U Mich Expectations Preliminary for Jun: Expected 81.5; Prior 82.4

1000 U Mich 1year inflation preliminary for Jun: Prior 2.4 pct

1000 U Mich 5-year inflation preliminary for Jun: Prior 2.3 pct

1030 ECRI weekly index: Prior 136.7

1030 ECRI weekly annualized: Prior 6.8 pct

1130 Cleveland Fed CPI for Jun: Prior 0.3 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$1.29) (Reporting by Nikhil Kumar in Bengaluru; Editing by Don Sebastian)

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