July 15, 2016 / 11:32 AM / a year ago

CANADA STOCKS-Oil prices weigh on futures

4 Min Read

July 15 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday as oil prices slipped on concerns that a persistent global glut of crude oil and refined products will impede any recovery.

September futures on the S&P TSX index were down 0.08 percent at 7:15 a.m. ET.

Manufacturing sales data is due at 8:30 a.m. ET.

Canada's main stock index rose to a fresh 11-month high on Thursday as heavyweight banking stocks benefited after U.S. bank JPMorgan Chase reported strong loan growth and rising oil prices boosted energy stocks.

Dow Jones Industrial Average e-mini futures were down 0.06 percent at 7:15 a.m. ET, S&P 500 e-mini futures were down 0.01 percent and Nasdaq 100 e-mini futures were down 0.05 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

Brazil may launch a trade challenge against Canada over state funding to struggling planemaker Bombardier Inc that could hurt Brazilian rival Embraer, Foreign Minister Jose Serra told Reuters on Thursday.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,331.70; +0.03 pct

US crude : $45.49; -0.46 pct

Brent crude : $47.19; -0.40 pct

LME 3-month copper : $4,979; +0.77 pct

Analyst Research Highlights

Altus Group Ltd : TD Securities starts with "buy" rating; price target C$28

Canam Group Inc : Raymond James cuts price target to C$15 from C$19

Corus Entertainment Inc : RBC cuts price target to C$12 from C$13

u.s. Economic Data Due on Friday

0830 CPI mm, SA for Jun: Expected 0.3 pct; Prior 0.2 pct

0830 CPI yy, NSA for Jun: Expected 1.1 pct; Prior 1.0 pct

0830 Core CPI mm, SA for Jun: Expected 0.2 pct; Prior 0.2 pct

0830 Core CPI yy, NSA for Jun: Expected 2.3 pct; Prior 2.2 pct

0830 CPI Index, NSA for Jun: Expected 241.08; Prior 240.24

0830 Core CPI Index, SA for Jun: Prior 247.07

0830 Real weekly earnings mm for Jun: Prior 0.0 pct

0830 NY General Business Condition Index for Jun: Expected 5.00; Prior 6.01

0830 Retail sales mm for Jun: Expected 0.1 pct; Prior 0.5 pct

0830 Retail sales ex-autos mm for Jun: Expected 0.4 pct; Prior 0.4 pct

0830 Retail ex gas/autos for Jun : Prior 0.3 pct

0830 Retail control for Jun: Expected 0.3 pct; Prior 0.4 pct

0915 Industrial output mm for Jun: Expected 0.2 pct; Prior -0.4 pct

0915 Capacity utilization mm for Jun: Expected 75.0 pct; Prior 74.9 pct

0915 Manufacturing output mm for Jun: Expected 0.2 pct; Prior -0.4 pct

1000 Business inventories mm for May : Expected 0.1 pct; Prior 0.1 pct

1000 U Mich Sentiment Preliminary for Jun: Expected 93.5; Prior 93.5

1000 U Mich Current Conditions Index-prelim for Jun: Expected 109.3; Prior 110.8

1000 U Mich Expectations Preliminary for Jun: Expected 81.5; Prior 82.4

1000 U Mich 1year inflation preliminary for Jun: Prior 2.4 pct

1000 U Mich 5-year inflation preliminary for Jun: Prior 2.3 pct

1030 ECRI weekly index: Prior 136.7

1030 ECRI weekly annualized: Prior 6.8 pct

1130 Cleveland Fed CPI for Jun: Prior 0.3 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$1.29) (Reporting by Nikhil Kumar in Bengaluru; Editing by Don Sebastian)

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