Sept 11 (Reuters) - Canada’s main stock index was set to open lower on Friday as oil prices fell more than 2 percent and investors prepared for a possible rate hike by the U.S. Federal Reserve next week.
Oil prices declined after Goldman Sachs cut its crude forecasts, citing global oversupply and concerns over the Chinese economy, and after Saudi Arabia dismissed the idea of an oil producer summit.
September futures on the S&P TSX index were down 0.68 percent at 7:15 a.m. ET.
No major economic data is scheduled for release in the day.
Canada’s main stock index rose on Thursday, buoyed by a surge in Bombardier’s shares, gains in some retailers on rosy results and a bump in oil and gas company shares as the price of crude oil rallied.
Dow Jones Industrial Average e-mini futures were down 0.29 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.36 percent and Nasdaq 100 e-mini futures were down 0.43 percent.
Canadian recreational vehicle maker BRP Inc reported a surprise adjusted profit for the second quarter, helped by higher sales of propulsions engines, accessories and clothing.
Canada’s transport regulator has ordered Canadian Pacific Railway Ltd to address a new alleged safety violation after it found the company was not carrying out a mandatory brake safety test on some of its trains in Western Canada, according to a letter obtained by Reuters.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,105.50; -0.36 pct
US crude : $44.84; -2.31 pct
Brent crude : $47.86; -2.11 pct
LME 3-month copper : $5,334; -1.19 pct
Empire Co Ltd : Raymond James cuts target price to C$92 from C$99
Sun Life Financial Inc : National Bank Financial raises target price to C$47 from C$46
Transat AT Inc : Desjardins raises target price to C$15 from C$13
Dollarama Inc : RBC raises target price to C$96 from C$90
0830 PPI final demand yy for Aug: Expected -0.9 pct; Prior -0.8 pct
0830 PPI final demand mm for Aug: Expected -0.1 pct; Prior +0.2 pct
0830 PPI ex food/energy yy for Aug: Expected +0.7 pct; Prior +0.6 pct
0830 PPI ex food/energy mm for Aug: Expected +0.1 pct; Prior +0.3 pct
0830 PPI ex food/energy/transport yy for Aug: Prior +0.9 pct
0830 PPI ex food/energy/transport mm for Aug: Prior +0.2 pct
1000 U Mich Sentiment Index Preliminary for Sep: Expected 91.2; Prior 91.9
1000 U Mich Conditions Preliminary for Sep: Expected 103.6; Prior 105.1
1000 U Mich Expectations Preliminary for Sep: Expected 82.8; Prior 83.4
1000 U Mich 1 year inflation preliminary for Sep: Prior 2.8 pct
1000 U Mich 5-year inflation preliminary for Sep: Prior 2.7 pct
1030 ECRI Weekly Index: Prior 130.5
1030 ECRI weekly annualized: Prior -1.7 pct
1400 Federal Budget for Aug: Expected -$81.5 bln; Prior -$149.2 bln
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.32) (Reporting by Ayesha Sruti Ahmed in Bengaluru; Editing by Kirti Pandey)