Sept 16 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday as oil prices slipped to two-week lows over worries of a persisting global supply glut.
Traders fear the market will remain oversupplied due to rising Iranian exports and returning supplies from Libya and Nigeria.
Traders are also eyeing weekly U.S. rig count data, to be released by Baker Hughes on Friday. Last week's data showed that U.S. drillers had added seven oil rigs, bringing the rig count to 414, the most since February.
December futures on the S&P TSX index were down 0.33 percent at 7:15 a.m. ET.
Canadian manufacturing sales data for July, due at 8:30 a.m. ET, is expected to show an increase of 1 percent from the 0.8 reported in June.
Canada's main stock index scored its biggest gain in two months on Thursday, led by shares of financial and energy stocks as oil rose and investors reduced bets on a U.S. Federal Reserve interest rate hike.
Dow Jones Industrial Average e-mini futures were down 0.38 percent at 7:15 a.m. ET. S&P 500 e-mini futures were down 0.38 percent and Nasdaq 100 e-mini futures were down 0.30 percent.
Canada's Agrium Inc will woo reluctant shareholders next week in Toronto to support its proposed merger with Potash Corp of Saskatchewan Inc, and seek to appease concerns that it has little to gain by marrying its fertilizer rival.
Empire Company Ltd : Barclays cuts target price to C$18 from C$19; rating "underweight"
Finning International : National Bank Financial raises target to C$23 from C$20
Gluskin Sheff + Associates Inc : Desjardins cuts target price to C$19 from C$20; rating "hold"
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,311.5; -0.19 pct
US crude : $43.19; -1.62 pct
Brent crude : $45.80; -1.70 pct
LME 3-month copper : $4,761.50; -0.41 pct
0830 CPI mm, SA for August: Expected 0.1 pct; Prior 0.0 pct
0830 CPI yy, NSA for August: Expected 1.0 pct; Prior 0.8 pct
0830 Core CPI mm, SA for August: Expected 0.2 pct; Prior 0.1 pct
0830 Core CPI yy, NSA for August: Expected 2.2 pct; Prior 2.2 pct
0830 CPI Index, NSA for August: Expected 240.68; Prior 240.65
0830 Core CPI Index, SA for August: Prior 247.71
0830 Real weekly earnings mm for August: Prior 0.6 pct
1000 U Mich Sentiment Preliminary for September: Expected 90.8; Prior 89.8
1000 U Mich Conditions Preliminary for September: Expected 107.5; Prior 107.0
1000 U Mich Expectations Preliminary for September: Expected 79.3; Prior 78.7
1000 U Mich 1 year inflation preliminary for September: Prior 2.5 pct
1000 U Mich 5-year inflation preliminary for September: Prior 2.5 pct
1030 ECRI Weekly Index : Prior 138.9
1030 ECRI weekly annualized: Prior 8.3 pct
1130 Cleveland Fed CPI for August: Prior 0.2 pct
1600 Net L-T flows,ex swaps for July: Prior -3.6 bln
1600 Foreign buying, T-bonds for July: Prior -32.9 bln
1600 Overall net capital flow for July: Prior -202.8 bln
1600 Net L-T flows, including swaps for July: Prior -38.9 bln
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$1 = C$1.32 Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Saumyadeb Chakrabarty