April 28, 2017 / 11:46 AM / in 5 months

CANADA STOCKS-Oil prices lift TSX futures; GDP data awaited

April 28 (Reuters) - Canada’s main stock index futures were trading higher on Friday as oil prices rebounded after dropping to a one-month low the previous day.

June futures on the S&P TSX index were up 0.13 percent at 7:15 a.m. ET.

Canada’s gross domestic growth data, due at 8:30 a.m. ET, is likely to show economic growth was flat in February. While that will mark a step down from January’s strong 0.6 percent pace, analysts still expect the economy is on track for a solid first quarter.

Monthly and annualized producer price data is also due at 8:30 a.m. ET.

Canada’s benchmark stock index closed nearly 1 percent lower on Thursday, pulled lower by heavyweight banking stocks after an alternative lender’s funding troubles raised concerns about the health of the housing market.

Dow Jones Industrial Average e-mini futures were up 0.08 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.09 percent and Nasdaq 100 e-mini futures were up 0.08 percent.

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TOP STORIES

Thomson Reuters Corp reported higher first-quarter revenue and reaffirmed its full-year sales outlook.

Canadian alternative lender Home Capital Group Inc said on Thursday the Healthcare of Ontario Pension Plan (HOOPP) agreed to provide a $2 billion credit line to its unit Home Trust.

ANALYST RESEARCH HIGHLIGHTS

Jean Coutu Group PJC: National Bank of Canada raises target to C$25 from C$22

Maple Leaf Foods Inc: CIBC raises target price to C$36 from C$35

TFI International Inc: CIBC cuts target price to C$35 from C$38

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1265.9; +0.17 percent

US crude: $49.39; +0.86 percent

Brent crude: $51.71; +0.52 percent

LME 3-month copper: $5715; +0.4 percent

U.S. ECONOMIC DATA DUE ON FRIDAY

08:30 GDP advance for Q1: Expected 1.2 pct; Prior 2.1 pct

08:30 GDP sales advance for Q1: Expected 1.3 pct; Prior 1.1 pct

08:30 GDP consumer spending advance for Q1: Prior 3.5 pct

08:30 GDP deflator advance for Q1: Expected 2.0 pct; Prior 2.1 pct

08:30 Core PCE prices advance for Q1: Expected 2.0 pct; Prior 1.3 pct

08:30 PCE prices advance for Q1: Expected 2.3 pct; Prior 2.0 pct

08:30 Employment wages QQ for Q1: Prior 0.5 pct

08:30 Employment benefits QQ for Q1: Prior 0.5 pct

08:30 Employment costs for Q1: Expected 0.6 pct; Prior 0.5 pct

09:45 Chicago PMI for Apr: Expected 56.4; Prior 57.7

10:00 U Mich Sentiment Final for Apr: Expected 98.0; Prior 98.0

10:00 U Mich Conditions Final for Apr: Expected 115.0; Prior 115.2

10:00 U Mich Expectations Fina for Apr: Expected 87.0; Prior 86.9

10:00 U Mich 1 year inflation final for Apr: Prior 2.5 pct

10:00 U Mich 5 year inflation final for Apr: Prior 2.4 pct

10:30 ECRI Weekly Index: Prior 145.2

10:30 ECRI weekly annualized: Prior 7.1 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$1.36) (Reporting by Nikhil Kumar in Bengaluru; Editing by Sriraj Kalluvila)

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