August 15, 2018 / 11:29 AM / 2 months ago

CANADA STOCKS-Futures lower as weak oil drags

Aug 15 (Reuters) - Futures for Canada’s main stock index edged lower on Wednesday as oil prices fell due to a gloomier outlook for global economy and a report of rising U.S. crude inventories.

September futures on the S&P/TSX index were down 0.25 percent at 7:15 a.m. ET.

Canada’s main stock index closed up on Tuesday.

Dow Jones Industrial Average e-mini futures were down 0.51 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.46 percent and Nasdaq 100 e-mini futures were down 0.65 percent.

TOP STORIES

Constellation Brands Inc said it would invest $4 billion more in Canopy Growth Corp, raising its stake in the Canadian marijuana producer to 38 percent.

Air France-KLM’s board is likely to appoint Air Canada’s chief operating officer Benjamin Smith as its new boss on Thursday, according to French newspaper Liberation.

ANALYST RESEARCH HIGHLIGHTS

Superior Plus Corp: Canaccord Genuity raises target price to C$13.75 from C$13.50

Nutrien Ltd: Bernstein cuts target price to C$88.86 from C$89.52

Tmac Resources Inc: CIBC cuts target price to C$8.50 from C$10.50

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1191.6; -0.76 percent

US crude: $66.22; -1.22 percent

Brent crude: $71.8; -0.91 percent

LME 3-month copper: $5895; -2.47 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Newyork Fed Manufacturing for Aug: Expected 20.00; Prior 22.6

0830 Labor costs preliminary for Q2: Expected 0.3 pct; Prior 2.9 pct

0830 Productivity preliminary for Q2: Expected 2.3 pct; Prior 0.4 pct

0830 Retail sales ex-autos mm for July: Expected 0.3 pct; Prior 0.4 pct

0830 Retail sales mm for July: Expected 0.1 pct; Prior 0.5 pct

0830 Retail ex gas/autos for July: Prior 0.3 pct

0830 Retail control for July: Expected 0.4 pct; Prior 0.0 pct

0915 Industrial production mm for July: Expected 0.3 pct; Prior 0.6 pct

0915 Capacity utilization mm for July: Expected 78.2 pct; Prior 78.0 pct

0915 Manufacturing output mm for July: Expected 0.3 pct; Prior 0.8 pct

1000 Business inventories mm for June: Expected 0.1 pct; Prior 0.4 pct

1000 Retail inventories ex-buto revenue for June: Prior 0.3 pct

1000 NAHB Housing Market Index for Aug: Expected 67; Prior 68

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 Pathikrit Bandyopadhyay in Bengaluru)

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