June 15, 2017 / 11:42 AM / 5 months ago

CANADA STOCKS-Futures slip on U.S. growth worries, oil prices

June 15 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Thursday as oil prices continued to fall and investors remained concerned about U.S. economic growth despite a widely expected interest rate hike by the Federal Reserve.

The central bank raised interest rates for the second time this year and forecast one more rise in 2017. Policymakers said the U.S. economy was strengthening and that the recent softness in inflation was largely transitory.

September futures on the S&P TSX index were down 0.45 percent at 7:15 a.m. ET.

Canadian manufacturing sales data is due at 8:30 a.m. ET

The country’s main stock index slumped on Wednesday to its lowest close in six months as energy stocks were hit by a sharp retreat in the price of oil and loyalty program company Aimia fell sharply after suspending dividend payments.

Dow Jones Industrial Average e-mini futures were down 0.34 percent at 7:15 a.m. ET. S&P 500 e-mini futures were down 0.58 percent and Nasdaq 100 e-mini futures were down 1.04 percent.

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TOP STORIES

Home Capital Group Inc said on Wednesday it had agreed on a settlement with the Ontario Securities Commission and accepted responsibility for misleading investors about problems with its mortgage underwriting procedures.

Kinder Morgan Canada Ltd welcomes investment from the country’s aboriginals so that they have a stake in its Trans Mountain pipeline expansion, its head said on Wednesday, as the company braces for major obstacles for the project.

ANALYST RESEARCH HIGHLIGHTS

Eldorado Gold Corp: Canaccord Genuity cuts to “speculative buy” rating from “buy”

TransCanada Corp: CIBC raises target price to C$70 from C$68

North West Company Inc: Barclays raises target price to C$33 from C$31

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,255.2; -1.49 pct

US crude: $44.51; -0.49 pct

Brent crude: $47.12; -0.36 pct

LME 3-month copper: $5,669.00; -0.53 pct

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 NY Fed Manufacturing for June: Expected 4.00; Prior -1.00

0830 Import prices mm for May: Expected -0.1 pct; Prior 0.5 pct

0830 Export prices mm for May: Expected 0.1 pct; Prior 0.2 pct

0830 Initial jobless claims: Expected 242,000; Prior 245,000

0830 Jobless claims 4-week average: Prior 242,000

0830 Continued jobless claims: Expected 1.923 mln; Prior 1.917 mln

0830 Philly Fed Business Index for June: Expected 24.0; Prior 38.8

0830 Philly Fed 6M Index for June: Prior 34.80

0830 Philly Fed Capex Index for June: Prior 32.60

0830 Philly Fed Employment for June: Prior 17.30

0830 Philly Fed Prices Paid for June: Prior 24.20

0830 Philly Fed New Orders for June: Prior 25.40

0915 Industrial production mm for May: Expected 0.2 pct; Prior 1.0 pct

0915 Capacity utilization mm for May: Expected 76.7 pct; Prior 76.7 pct

0915 Manufacturing output mm for May: Expected 0.1 pct; Prior 1.0 pct

1000 NAHB Housing Market Index for June: Expected 70; Prior 70

1600 Net L-T flows, exswaps for April: Prior 59.8 bln

1600 Foreign buying, T-bonds for April: Prior 24.4 bln

1600 Overall net capital flow for April: Prior -0.7 bln

1600 Net L-T flows, inclusion swaps for April: Prior 45.7 bln

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$1.33) (Reporting by Benny Thomas in Bengaluru; Editing by Saumyadeb Chakrabarty)

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