Nov 15 (Reuters) - Futures for Canada’s main stock index were lower on Friday, pressured by a drop in oil prices over concerns of rising supplies next year.
OPEC said on Thursday it expected demand for its oil to fall in 2020 as rivals pumped more despite a smaller surplus of crude in the global market, building a case for the group to maintain supply curbs when it meets to discuss policy next month.
December futures on the S&P/TSX index were down 0.08% at 7:00 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index rose 0.08% to 16,972.18 on Thursday.
Dow Jones Industrial Average e-mini futures were up 0.28% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.25% and Nasdaq 100 e-mini futures were down 0.38%.
The widespread adoption of artificial intelligence, machine learning and other new technologies may be boosting potential output in ways that could take years to show up in the data, Bank of Canada Governor Stephen Poloz said on Thursday.
More than a dozen U.S. trade groups and the U.S. Chamber of Commerce on Friday urged the Trump administration to block a French-style digital services tax proposed by Canadian Prime Minister Justin Trudeau during October’s election.
Montana lawmakers representing Native American tribal members called on the state’s congressional delegation and the U.S. State Department on Thursday to extend the public comment period for the environmental review of the Keystone XL pipeline, saying tribes were not properly consulted.
ANALYST RESEARCH HIGHLIGHTS
Canopy Growth Corp: CIBC cuts price target to C$30 from C$45
Freshii Inc: CIBC raises price target to C$$3.00 from C$2.75
Vecima Networks Inc: CIBC raises price target to C$11 from C$10
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1465.3; -0.55%
US crude: $56.71; -0.11%
Brent crude: $62.04; -0.39%
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 NY Fed Manufacturing for Nov: Expected 5.00; Prior 4.00
0830 Import prices mm for Oct: Expected -0.2%; Prior 0.2%
0830 Export prices mm for Oct: Expected -0.1%; Prior -0.2%
0830 Import prices yy for Oct: Prior -1.6%
0830 Retail sales ex-autos mm for Oct: Expected 0.4%; Prior -0.1%
0830 Retail sales mm for Oct: Expected 0.2%; Prior -0.3%
0830 Retail ex gas/autos for Oct: Prior 0.0%
0830 Retail control for Oct: Expected 0.3%; Prior 0.0%
0830 Retail sales YoY for Oct: Prior 4.10%
0915 Industrial production mm for Oct: Expected -0.4%; Prior -0.4%
0915 Capacity utilization SA for Oct: Expected 77.1%; Prior 77.5%
0915 Manufacturing output mm for Oct: Expected -0.6%; Prior -0.5%
0915 Industrial production YoY for Oct: Prior -0.14%
1000 Business inventories mm for Sep: Expected 0.1%; Prior 0.0%
1000 Retail inventories ex-auto revenue for Sep: Prior 0.3%
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$1= C$1.32 Reporting by Swathi Nair in Bengaluru; Editing by Maju Samuel
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