May 31, 2018 / 11:32 AM / 3 months ago

CANADA STOCKS-TSX futures flat ahead of first-quarter GDP data

May 31 (Reuters) - Canada’s main stock index futures was trading flat on Thursday, with investors awaiting the country’s gross domestic product data for the first quarter.

June futures on the S&P TSX index were down 0.21 percent at 7:15 a.m. ET.

The Canadian economy is expected to have grown at an annualized 1.8 percent pace in the first quarter, largely in line with the previous quarter as growth was likely restrained by weak exports and a slowdown in housing. The GDP data is scheduled to be released at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX rose 126.05 points, or 0.79 percent, to 16,048.66 on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.1 percent at 7:15 a.m. ET, while S&P 500 e-mini futures fell 0.05 percent and Nasdaq 100 e-mini futures were up 0.03 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Years of low oil prices and high costs spurred a stampede by multinational majors out of Canada’s oil sands last year, leaving the remaining crude producers struggling to weather painful drops in profit.

Luxury coat maker Canada Goose said it would team up with ecommerce company Alibaba Group to tap into the rising consumer demand in Greater China, the world’s largest luxury market, in the fall of this year.

Canadian specialty chemicals firm Superior Plus Corp said on Wednesday it would buy NGL Energy Partners’ retail propane unit for $900 million in cash to boost its presence in the United States.

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1,304.9; 0.26 pct

US crude: $67.75; -0.66 pct

Brent crude: $77.37; -0.17 pct

LME 3-month copper: $6832.5; -0.11 pct

ANALYST RESEARCH HIGHLIGHTS

National Bank of Canada: RBC raises price target to C$73 from C$71.

Bank of Montreal: RBC raises price target to C$120 from C$117.

Cenovus Energy: National Bank of Canada ups to outperform from sector perform.

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Personal consumption Real mm for Apr: Prior 0.400 pct

0830 Personal income mm for Apr: Expected 0.3 pct; Prior 0.3 pct

0830 Consumption, adjusted mm for Apr: Expected 0.400 pct; Prior 0.400 pct 0830 Core PCE price index mm for Apr: Expected 0.100 pct; Prior 0.200 pct

0830 Core PCE price index yy for Apr: Expected 1.800 pct; Prior 1.900 pct

0830 PCE price index mm for Apr: Prior 0.000 pct

0830 PCE price index yy for Apr: Prior 2.000 pct

0830 Initial jobless claims: Expected 228,000; Prior 234,000

0830 Jobless claims 4-week average: Prior 219,750

0830 Continued jobless claims: Expected 1.749 mln; Prior 1.741 mln

0945 Chicago PMI for May: Expected 58.0; Prior 57.6

1000 Pending Homes Index for Apr: Prior 107.6

1000 Pending sales change mm for Apr: Expected 0.4 pct; Prior 0.4 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= C$1.28 Reporting by Benny Thomas in Bengaluru

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