CANADA STOCKS-Futures lower ahead of U.S., Canada data; oil weighs

Fri Jul 29, 2016 7:47am EDT
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July 29 (Reuters) - Futures pointed to a lower start for Canada's main stock index on Friday as oil prices slid further and investors awaited the release of U.S. and Canada gross domestic product data.

Brent crude was on track for its biggest monthly loss since December 2015, pressured by slowing economic growth that threatened to increase a supply overhang of crude and refined products.

At 8:30 a.m. ET, Statistics Canada is scheduled to release data on Canada's economic growth in May, while the U.S. Commerce Department will detail the country's second-quarter growth.

Canada's economy is expected to have shrunk 0.4 percent in May as wildfires in Alberta disrupted oil production in the region.

Producer prices data is also due at 8:30 a.m. ET.

September futures on the S&P TSX index were down 0.14 percent at 7:30 a.m. ET.

Canada's main stock index eked out a small gain on Thursday, helped by positive earnings surprises from Teck Resources Ltd and others, while disappointment over Potash Corp's dividend and outlook cut and other earnings misses weighed.

Dow Jones Industrial Average e-mini futures were down 0.15 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were down 0.14 percent and Nasdaq 100 e-mini futures were up 0.01 percent.

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