Jan 19 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Monday as oil prices fell below $50 after Iraq announced record oil production and the global economic outlook darkened.
March futures on the S&P TSX index were down 0.65 percent at 7.15 a.m. ET.
Securities Cdns data for November due at 8:30 a.m. ET
Canada’s main stock index rose nearly 2 percent on Friday as shares of oil and mining companies soared on the back of rebounding commodity prices.
Dow Jones Industrial Average e-mini futures were down 0.31 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were down 0.30 percent and Nasdaq 100 e-mini futures were down 0.25 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
Seven Nebraska landowners on Friday filed suits against the company behind the Keystone XL pipeline, alleging that a state law that cleared the way for the massive project violates the state’s constitution.
Target Corp was scrambling for ways to fix its failing Canadian expansion and considering closing just the weakest locations, but a pre-holiday visit to several stores by CEO Brian Cornell helped seal the decision for a full retreat.
COMMODITIES AT 7.15 a.m. ET
Gold futures : $1,274.9; -0.16 pct
US crude : $48.22; -0.97 pct
Brent crude : $49.83; -0.68 pct
LME 3-month copper : $5,668; -0.82 pct
ANALYST RESEARCH HIGHLIGHTS
Vermilion Energy Inc : CIBC raises to “sector outperformer” from “sector performer”
Altius Minerals Corp : Raymond James raises target to C$16 from C$15
Transforce Inc : BMO cuts to “underperform” from “market perform”
U.S. ECONOMIC DATA DUE ON MONDAY
No major U.S. economy data expected
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$1.20 Reporting by Abhinav Kaul in Bengaluru
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