June 1, 2015 / 11:26 AM / 2 years ago

CANADA STOCKS-Futures dip as stronger dollar weighs on commodities

June 1 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Monday as a stronger dollar weighed on commodity prices including oil, copper and gold.

June futures on the S&P TSX index were down 0.3 percent at 7:15 a.m. ET.

Seasonally adjusted RBC manufacturing PMI data is due at 9:30 a.m. ET.

Canada's main stock index fell on Friday, with heavyweight banks tipping the scales to the downside amid broad pessimism about domestic economic growth and the uncertain outlook for industries tied to energy.

Dow Jones Industrial Average e-mini futures were up 0.07 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.01 percent and Nasdaq 100 e-mini futures were up 0.03 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Crude oil prices dropped on Monday as the dollar rose and on expectations that OPEC production would remain high, stoking worries of oversupply despite declining U.S. rig operations.

Destin Pipeline Co said on Sunday it would resume natural gas transport services on June 2 after it completed scheduled maintenance.

Royal Dutch Shell Plc reported it was restarting an unspecified unit at its Scotford upgrader facility near Edmonton, Alberta, according to a message posted on a community information phone line on Saturday.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,185.4; -0.4 pct

US crude : $59.64; -1.1 pct

Brent crude : $64.87; -1.1 pct

LME 3-month copper : $5,996.50; -0.3 pct

ANALYST RESEARCH HIGHLIGHTS

Pacific Rubiales : Barclays cuts to "equal weight" from "overweight"

Endeavour Mining : BMO raises to "outperform" from "market perform"

Air Canada : Cowen and Company raises price target to C$18 from C$15

U.S. ECONOMIC DATA DUE ON MONDAY

0830 Personal consumption real mm for April: Prior +0.3 pct

0830 Personal income mm for April: Expected +0.3 pct; Prior +0.0 pct

0830 Consumption, adjusted mm for April: Expected +0.2 pct; Prior +0.4 pct

0830 Core PCE Price Index mm for April: Expected +0.2 pct; Prior +0.1 pct

0830 Core PCE Price Index yy for April: Prior +1.3 pct

0830 PCE Price Index mm for April: Prior +0.2 pct

0830 PCE Price Index yy for April: Prior +0.3 pct

0945 Markit Manufacturing PMI Final for May: Prior +53.8

1000 Construction spending mm for April: Expected +0.8 pct; Prior -0.6 pct

1000 ISM Manufacturing PMI for May: Expected +52.0; Prior +51.5

1000 ISM Manufacturing Prices Paid for May: Expected +42.5; Prior +40.5

1000 ISM Manufacturing Employment Index for May: Expected +49.3; Prior +48.3

1000 ISM Manufacturing New Orders Index for May: Prior +53.5

1300 Dallas fed PCE for April: Prior +2.0 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$1.25 Reporting by Nandi Kaul in Bengaluru; Editing by Savio D'Souza

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below