June 28 (Reuters) - Canada’s main stock index futures were little changed on Wednesday as oil prices edged lower after an industry report showed an increase in U.S. crude inventory.
The American Petroleum Institute (API) said on Tuesday that U.S. crude inventories rose by 851,000 barrels last week, while analysts expected a decline. Inventories of gasoline and distillates also increased, the API said.
September futures on the S&P TSX index were up 0.1 percent at 7:30 a.m. ET.
Canada’s benchmark stock index fell on Tuesday as technology and gold mining shares retreated, offsetting gains in the energy sector as oil prices climbed.
No major Canadian economic releases are scheduled.
Dow Jones Industrial Average e-mini futures were up 0.08 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.11 percent and Nasdaq 100 e-mini futures were down 0.27 percent.
Europe’s NATO members and Canada will jointly raise defense spending by 4.3 percent in 2017, NATO Secretary-General Jens Stoltenberg said, partly aimed at showing the United States they are committed to shouldering more costs.
ANALYST RESEARCH HIGHLIGHTS
Aritzia Inc: RBC cuts target price to C$21 from C$23
Sandvine Corp: TD Securities cuts target price to C$4.15 from C$4.50
Gildan Activewear Inc: CIBC cuts rating to “neutral” from “outperformer”
COMMODITIES AT 7:30 a.m. ET
Gold futures: $1251.8; +0.52 percent
US crude: $44.11; -0.29 percent
Brent crude: $46.6; -0.11 percent
LME 3-month copper: $5839; -0.32 percent
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Advance goods trade balance for May: Prior -$67.14 bln
0830 Advance Wholesale Inventory for May: Prior -0.5
0830 Advance Retail Inventory Ex Auto for May: Prior -0.2
1000 Pending Homes Index for May: Prior 109.8
1000 Pending sales change mm for May: Expected 0.8 pct; Prior -1.3 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$1.31) (Reporting by Nikhil Kumar in Bengaluru; Editing by Sriraj Kalluvila)
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