CANADA STOCKS-TSX may open lower as commodities weaken, Fed eyed

Wed Jun 22, 2011 8:29am EDT
 
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June 22 (Reuters) - Toronto's main stock index looked set to open lower on Wednesday as commodity prices dropped and concerns lingered about the outlook for the U.S. economy ahead of the conclusion of a U.S. Federal Reserve meeting.

The Federal Reserve on Tuesday began a two-day meeting against the backdrop of a weakening U.S. economy that will likely force policymakers to plan for the possibility that things may get worse. [ID:nFEDAHEAD]

FACTORS TO WATCH

* Canadian equity futures <0#SXF:> pointed to a lower open.

* U.S. stock index futures pointed to a lower open on Wall Street, with futures for the S&P 500 SPc1 down 0.2 percent, Dow Jones DJc1 futures down 0.1 percent and Nasdaq 100 NDc1 futures down 0.2 percent at 0900 GMT. [.N]

* European equities fell, led lower by personal and household goods shares, with the optimism triggered by Greece's vote of confidence proving to be short-lived. [.EU]

* The Nikkei stock average climbed 1.8 percent, hitting a three-week high as short-covering kicked in after Greece's government survived a confidence vote crucial to avoiding default.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.18 percent in early trade.   Continued...