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CANADA STOCKS-TSX futures inch up as oil prices rise

June 18(Reuters) - Canada’s main stock index futures inched up on Thursday as oil prices rose, while fears of a second wave of coronavirus cases in major economies held back a sharper rise.

U.S. government data showed lower inventories of gasoline and distillates, which include diesel and heating oil, indicating higher fuel demand.

New coronavirus cases are rising sharply in six U.S. states, while authorities in Beijing have ramped up efforts to contain a new COVID-19 outbreak.

June futures on the S&P/TSX index were up 0.05% at 7:00 a.m. ET.

Canada’s wholesale trade data for April is due at 8:30 a.m. ET

On Wednesday, the Toronto Stock Exchange’s S&P/TSX composite index ended 0.56% lower at 15,428.69.

Dow Jones Industrial Average e-mini futures were down 0.11% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.14% and Nasdaq 100 e-mini futures were up 0.08%.

TOP STORIES

Enbridge Inc, Canada’s largest pipeline operator, said on Wednesday about 800 employees have opted for voluntary buyouts, as the company tries to reduce costs to tackle the COVID-19 crisis and the global oil price shock.

ANALYST RESEARCH HIGHLIGHTS

Precision Drilling Corp: Canaccord Genuity raises target price to C$1.25 from C$0.9

Richelieu Hardware: National Bank of Canada raises target price to C$30 from C$27

Secure Energy Services Inc: Canaccord Genuity raises target price to C$2 from C$1.5

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,725.9; -0.25%

US crude: $38.25; +0.76%

Brent crude: $41.17; +1.13%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 1,300,000; Prior 1,542,000

0830 Jobless claims 4-week average: Prior 2,002,000

0830 Continued jobless claims: Expected 19.800 mln; Prior 20.929 mln

0830 Philly Fed Business Index for Jun: Expected -23.0; Prior -43.1

0830 Philly Fed 6M Index for Jun: Prior 49.70

0830 Philly Fed Capex Index for Jun: Prior 15.20

0830 Philly Fed Employment for Jun: Prior -15.30

0830 Philly Fed Prices Paid for Jun: Prior 3.20

0830 Philly Fed New Orders for Jun: Prior -25.70

1000 Leading index change mm for May: Expected 2.3%; Prior -4.4%

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$1.35) (Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)

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