CANADA STOCKS-Futures lower as Fed signals rate hike in June

Thu May 19, 2016 7:57am EDT
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May 19 (Reuters) - Canada's main stock index was set to open lower on Thursday on increased chances of a U.S. interest rate increase in June.

U.S. Federal Reserve officials said it would be appropriate to raise interest rates in June if economic data points to stronger second-quarter growth as well as firming inflation and employment, according to minutes from the latest policy meeting released on Wednesday.

June futures on the S&P TSX index were down 0.48 percent at 7:30 a.m. ET.

Wholesale Trade data is due at 8:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index retreated on Wednesday as mining and energy stocks fell, pressured by lower commodity prices after the Fed minutes release.

Dow Jones Industrial Average e-mini futures were down 0.17 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were down 0.21 percent and Nasdaq 100 e-mini futures were down 0.21 percent.

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