CANADA STOCKS-TSX set to open lower on U.S. political turmoil

Thu May 18, 2017 7:51am EDT
 
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May 18 (Reuters) - Futures on Canada's main stock index dipped on Thursday, a day after the index posted its lowest close in nearly five months, as uncertainty over U.S. President Donald Trump's political future weighed down global stocks.

Adding to the dour mood, oil prices fell on signs that the market was well supplied with crude despite production cuts by OPEC and major exporters.

Market tensions remained high following reports that Trump had tried to intervene in an investigation into alleged Russian interference in last year's U.S. election and that his aides had numerous undisclosed contacts with Russian officials.

June futures on the S&P TSX index were down 0.5 percent at 7:15 a.m. ET.

Foreign securities data for March is due at 8:30 a.m. ET.

Canada's main stock index slumped on Wednesday as global markets worried that U.S. President Donald Trump's pro-business economic agenda could be slowed by political scandals.

Dow Jones Industrial Average e-mini futures were down 0.33 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.22 percent and Nasdaq 100 e-mini futures were down 0.22 percent.

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