Fri May 17, 2013 8:34am EDT
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(Corrects headline to add that the market may open higher)

May 17 (Reuters) - Canada's main stock index looked set to open higher, although gains might be capped after San Francisco Federal Reserve Bank President John Williams hinted the U.S. central bank could begin pulling back its aggressive monetary easing policy this summer.

Canadian inflation came in below expectations.


* Big banks won key concessions in the battle over who dominates the $630 trillion derivatives markets as the top U.S. regulator adopted watered-down rules to bring swaps onto exchange-like trading platforms.

* Dell Inc, the subject of a takeover battle between activist investor Carl Icahn and the company's billionaire founder, reported a 79 percent slide in profit as personal computer sales continued to shrink.

* Internet retailer Inc will be called back to the British parliament to clarify how its activities in the UK justify its low corporate income tax bill, two lawmakers told Reuters.

* J.C. Penney Co Inc CEO Myron Ullman told Wall Street on Thursday that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ To receive an early e-mail of Reuters Morning News Call - Canada -- a preview of market moving news -- Thomson Reuters subscribers can register at ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

MARKET SNAPSHOT   Continued...