Dec 14 (Reuters) - Canada stock futures were lower on Wednesday as oil prices fell and ahead of a widely expected U.S. interest rate hike.
Oil fell more than 1 percent after industry data showed an unexpected rise in U.S. inventories and on concerns that the OPEC may have produced more crude in November.
The U.S. Federal Reserve will conclude its two-day policy meeting later in the day, with an interest rate increase all but assured, and will issue new forecasts assessing whether the economic outlook has changed since the U.S. election.
December futures on the S&P TSX index were down 0.2 percent at 7:15 a.m. ET.
December Thomson Reuters/Ipsos Primary Consumer Sentiment Index data is due at 11:00 a.m. ET.
Canada’s main stock index rose to a fresh 19-month high on Tuesday, led by gains in heavyweight energy and banking stocks, while materials stocks weighed.
Dow Jones Industrial Average e-mini futures were up 0.01 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.03 percent and Nasdaq 100 e-mini futures were up 0.08 percent.
Canadian chemical company Canexus Corp, which rejected a hostile bid from Chemtrade Logistics Income Fund , confirmed on Tuesday that it is in talks with the company about a higher offer.
Canadian Natural Resources : Instinet raises target price to C$48 from C$44
Enerplus Corp : Barclays raises target price to C$15 from C$13
Teck Resources Ltd : Dundee raises target price to C$40 from C$34
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,163.2; +0.47 pct
US crude : $52.24; -1.4 pct
Brent crude : $54.99; -1.33 pct
LME 3-month copper : $5,741.00; +0.88 pct
0830 PPI final demand yy for Nov: Expected 0.9 pct; Prior 0.8 pct
0830 PPI final demand mm for Nov: Expected 0.1 pct; Prior 0.0 pct
0830 PPI ex food/energy yy for Nov: Expected 1.3 pct; Prior 1.2 pct
0830 PPI ex food/energy mm for Nov: Expected 0.2 pct; Prior -0.2 pct
0830 PPI ex food/energy/transport yy for Nov: Prior 1.6 pct
0830 PPI ex food/energy/transport mm for Nov: Prior -0.1 pct
0830 Retail sales mm for Nov: Expected 0.3 pct; Prior 0.8 pct
0830 Retail sales ex-autos mm for Nov: Expected 0.4 pct; Prior 0.8 pct
0830 Retail ex gas/autos for Nov: Prior 0.6 pct
0830 Retail control for Nov: Expected 0.3 pct; Prior 0.8 pct
0915 Industrial production mm for Nov: Expected -0.2 pct; Prior 0.0 pct
0915 Capacity utilization mm for Nov: Expected 75.1 pct; Prior 75.3 pct
0915 Manufacturing output mm for Nov: Expected -0.2 pct; Prior 0.2 pct
1000 Business inventories mm for Oct: Expected -0.1 pct; Prior 0.1 pct
1100 TR IPSOS PCSI for Dec: Prior 55.22
1400 Fed funds target rate: Expected 0.625 pct; Prior 0.375 pct
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$1= C$1.31 Reporting by Nivedita Balu in Bengaluru; Editing by Anil D'Silva