August 17, 2017 / 11:22 AM / 9 months ago

CANADA STOCKS-Futures down despite steady oil prices

Aug 17 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Thursday even as oil prices steadied after U.S. data showed a big fall in crude stockpiles.

Energy Information Administration (EIA) data showed commercial U.S. crude stocks have fallen by almost 13 percent from their peaks in March to 466.5 million barrels.

September futures on the S&P TSX index were down 0.16 percent at 7:15 a.m. ET.

Canadian manufacturing sales data is expected at 08:30 a.m. ET.

Dow Jones Industrial Average e-mini futures were down 0.14 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.15 percent and Nasdaq 100 e-mini futures were down 0.27 percent.

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TOP STORY

Sears Canada Inc, which filed for creditor protection in June, said in a staff memo Executive Chairman Brandon Stranzl had stepped away from day-to-day operations to focus on plans for the retailer to continue as a going concern.

ANALYST RESEARCH HIGHLIGHTS

Metro Inc: CIBC cuts target price to C$46 from C$48

Prometic Life Sciences: National Bank of Canada cuts rating to “sector perform”

RMP Energy Inc: Raymond James cuts rating to “underperform” from “market perform”

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1284.8; +0.62 percent

US crude: $46.67; -0.24 percent

Brent crude: $50.23; -0.08 percent

LME 3-month copper: $6499; -0.51 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 240,000; Prior 244,000

0830 Jobless claims 4-week average: Prior 241,000

0830 Continued jobless claims: Expected 1.953 mln; Prior 1.951 mln

0830 Philly Fed Business Index for Aug: Expected 18.5; Prior 19.5

0830 Philly Fed 6M Index for Aug: Prior 36.90

0830 Philly Fed Capex Index for Aug: Prior 42.00

0830 Philly Fed Employment for Aug: Prior 10.90

0830 Philly Fed Prices Paid for Aug: Prior 19.10

0830 Philly Fed New Orders for Aug: Prior 2.10

0915 Industrial production mm for July: Expected 0.3 pct; Prior 0.4 pct

0915 Capacity utilization mm for July: Expected 76.7 pct; Prior 76.6 pct

0915 Manufacturing output mm for July: Expected 0.2 pct; Prior 0.2 pct

1000 Leading index change mm for July: Expected 0.3 pct; Prior 0.6 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$1.26) (Reporting by Nishit Kunal in Bengaluru; Editing by Maju Samuel)

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