July 28 (Reuters) - Futures pointed to a lower opening for Canada’s main stock index on Friday, ahead of gross domestic product (GDP) data that will shed light on the health of the economy.
The economy is expected to grow 0.2 percent in May, tracking growth in April.
GDP data is due at 8:30 a.m. ET.
September futures on the S&P TSX index were down 0.45 percent at 7:15 a.m. ET.
Canada’s main stock index eked out a small gain on Thursday, as higher oil prices broadly boosted energy stocks and Cenovus Energy Inc soared after saying asset sales could exceed its estimates, while Goldcorp Inc weighed as its earnings disappointed.
Dow Jones Industrial Average e-mini futures were down 0.09 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.28 percent and Nasdaq 100 e-mini futures were down 0.76 percent.
Canada’s Bombardier Inc posted a surprise quarterly profit on Friday and said it expected 2017 earnings before interest and taxes to be at the higher end of its forecast.
Hudson’s Bay Co is planning to open its first namesake department store in Canada in at least five years, the company confirmed on Thursday, even as other competitors are shuttering stores in a brutal retail market.
Goldcorp Inc is looking to sell royalties it owns on a number of mining projects it has sold in recent years, its chief executive said on Thursday, as the Canadian gold miner nears the end of a series of non-core asset sales.
ANALYST RESEARCH HIGHLIGHTS
Tembec Inc: RBC cuts rating to “sector perform” from “outperform”
Uni Select Inc: Desjardins raises rating to “buy” from “hold”
Vermilion Energy Inc: RBC raises rating to “outperform” from “sector perform”
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1,257.7; -0.18 pct
US crude: $49.07; +0.06 pct
Brent crude: $51.68; +0.37 pct
LME 3-month copper: $6,319.50; -0.17 pct
U.S. ECONOMIC DATA DUE ON FRIDAY
1100 GDP advance for Q2 : Expected 2.6 pct; Prior 1.4 pct
1100 GDP sales advance for Q2: Expected 2.4 pct; Prior 2.6 pct
1100 GDP construction spending advance Q2: Prior 1.1 pct
1100 GDP deflator advance for Q2: Expected 1.3 pct; Prior 1.9 pct
1100 Core PCE prices advance for Q2: Expected 0.8 pct; Prior 2.0 pct
1100 PCE prices advance for Q2: Expected 1.2 pct; Prior 2.4 pct
0830 Employment wages qq for Q2: Prior 0.8 pct
0830 Employment benefits qq for Q2: Prior 0.7 pct
0830 Employment costs for Q2: Expected 0.6 pct; Prior 0.8 pct
1000 U Mich Sentiment Final for July: Expected 93.1; Prior 93.1
1000 U Mich Conditions Final for July: Expected 112.9; Prior 113.2
1000 U Mich Expectations Final for July: Expected 80.4; Prior 80.2
1000 U mich 1 year inflation final for Jul: Prior 2.7 pct
1000 U mich 5 year inflation final for Jul: Prior 2.6 pct
1030 ECRI Weekly Index: Prior 144.8
1030 ECRI weekly annualized: Prior 2.6 pct
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$1= C$1.25 Reporting by Riniki Sanyal in Bengaluru; Editing by Sai Sachin Ravikumar
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