May 16, 2014 / 11:35 AM / 3 years ago

CANADA STOCKS-TSX poised to open lower

3 Min Read

May 16 (Reuters) - Canadian stocks looked set to open lower on Friday, with June futures on the S&P TSX index <0#SXF:> down 0.16 percent at 0730 ET.

March data on foreign investment in Canadian securities and Canadian investment in foreign securities is due at 0830 ET.

The index declined on Thursday as resource shares slipped with commodity prices amid a broader selloff triggered by concerns about extended valuations.

Dow Jones Industrial Average futures were down 0.13 percent at 0730 ET, while S&P 500 futures were down 0.01 percent and Nasdaq 100 futures were down 0.27 percent.

(Morning News Call newsletter; The Day Ahead newsletter

Top Stories

Canada broke with the United States and did not impose sanctions on two key allies of Russian President Vladimir Putin because the pair had Canadian business interests, according to sources familiar with the matter.

Canadian Imperial Bank of Commerce said on Thursday it will take a non-cash goodwill impairment charge of C$420 million on its Caribbean unit due to challenging economic conditions in the region.

Commodities at 0715 Et

Gold futures : $1,294.10; +0.04 pct

US crude : $101.64; +0.14 pct

Brent crude : $109.36; +0.25 pct

LME 3-month copper : $6,886.00; +0.01 pct

Analyst Research Highlights

Air Canada : Canaccord Genuity, Raymond James raise target price on the company

Stantec Inc : CIBC raises rating to sector outperformer from sector performer

Strategic Oil & Gas : NBF cuts rating to underperform from sector perform

u.s. Economic Data Due on Friday

0830 Housing starts number mm for April: Expected +0.980 mln prior +0.946 mln

0830 House starts mm: change for April: Prior +2.8 pct

0830 Building permits: number for April: Expected +1.010 mln Prior 0.997 mln

0830 Build permits: change mm for April: Prior -1.7 pct

0955 U Mich sentiment prelim for May: Expected +84.5 prior +84.1

0955 U Mich conditions prelim for May: Expected +99.0 prior +98.7

0955 U Mich expectations pre for May: Expected +75.0 prior +74.7

0955 U Mich 1Yr inflation pre for May: Prior +3.2 pct

0955 U Mich 5-Yr inflation P for May: Prior +2.9 pct

1030 ECRI weekly index: Prior +135.8

1030 ECRI weekly annualized: Prior +4.5 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= $1.09 Canadian Reporting by Mononshila Deka in Bangalore; Editing by Ted Kerr

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