June 25, 2019 / 11:23 AM / 5 months ago

CANADA STOCKS-TSX futures down as oil prices dip

June 25 (Reuters) - Futures pointed to a lower opening for Canada’s main stock index on Tuesday, hit by falling oil prices.

Concerns over declining demand for crude oil and a Saudi pledge to offset any shortfall from countries hit by sanctions weighed on oil prices.

September futures on the S&P/TSX index were down 0.04% at 7:00 a.m. ET.

April wholesale trade data is due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX fell 1.96 points, or 0.01%, to 16,523.47 on Monday.

Dow Jones Industrial Average e-mini futures were down 0.08% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.11% and Nasdaq 100 e-mini futures were down 0.21%.

TOP STORIES

Canada-based delivery and logistics firm Purolator Inc said it plans to invest C$1 billion to strengthen its footprint in the domestic market, looking to reach more customers and businesses and keep up in a hyper-competitive e-commerce space.

Private equity firm Onex Corp said on Monday its C$3.5 billion buyout offer for WestJet Airlines Ltd received approval from Canada’s Minister of Transport, clearing the first of several regulatory hurdles.

ANALYST RESEARCH HIGHLIGHTS

Crew Energy Inc: National Bank of Canada cuts rating to sector perform from outperform

Suncor Energy Inc: National Bank of Canada cuts target price to C$56 from C$59

Storm Resources: National Bank of Canada raises rating to outperform from sector perform

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,430.1; +1.05%

US crude: $57.67; -0.4%

Brent crude: $64.48; -0.59%

U.S. ECONOMIC DATA DUE ON TUESDAY

0800 Build permits number for May: Prior 1.294 mln

0800 Build permits R change mm for May: Prior 0.3%

0900 Monthly home price mm for April: Prior 0.1%

0900 Monthly home price yy for April: Prior 4.9%

0900 Monthly Home Price Index for April: Prior 273.4

0900 Caseshiller 20 mm SA for April: Expected 0.2%; Prior 0.1%

0900 Caseshiller 20 mm NSA for April: Expected 0.6%; Prior 0.7%

0900 Caseshiller 20 yy for April: Expected 2.6%; Prior 2.7%

1000 Consumer Confidence for June: Expected 131.1; Prior 134.1

1000 New home sales-units for May: Expected 0.680 mln; Prior 0.673 mln

1000 New home sales change mm for May: Expected 1.9%; Prior -6.9%

1000 Rich Fed Composite Index for June: Prior 5

1000 Rich Fed, Services Index for June: Prior 1

1000 Rich Fed Manufacturing Shipments for June: Prior 2

1030 Texas Service Sector Outlook for June: Prior -0.3

1030 Dallas Fed Services Revenues for June: Prior 2.7

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$1.32) (Reporting by Hrithik Kiran Bagade in Bengaluru; Editing by Shailesh Kuber)

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