Dec 12 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index as a relentless slide in crude prices put energy stocks under pressure.
December futures on the S&P TSX index were down 0.32 percent at 7:15 a.m. ET.
No major economic events are scheduled for the day.
Canada’s main stock index advanced in choppy trading on Thursday as robust U.S. economic data boosted sentiment even as weak crude prices continued to undermine oil and gas shares.
The Dow Jones Industrial Average e-mini futures were down 1.42 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 1.25 percent and Nasdaq 100 e-mini futures were down 1.58 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)
The Bank of Canada does not foresee the sort of sharp rise in joblessness or mortgage rates that would trigger a major housing market correction, Governor Stephen Poloz said on Thursday.
BRP Inc, the maker of Ski-Doo snowmobiles and Sea-Doo watercraft, cut its full-year earnings and revenue forecast, saying it expected a weak rouble to hit sales in Russia.
Major Chinese ship crane manufacturer Wuhan Marine Machinery Plant Co Ltd said it has temporarily stopped using a component that Canada’s transport watchdog warned may be defective after a crane collapsed in Quebec in August, injuring a dock worker.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,224.07; -0.03 pct
US crude : $59.39; -0.93 pct
Brent crude : $63.31; -0.58 pct
LME 3-month copper : $6,497; -0.53 pct
ANALYST RESEARCH HIGHLIGHTS
Industrial Alliance : NBF cuts to “sector perform” from “outperform” and cuts target price to C$48 from C$50
Canaccord Genuity : KBW cuts target price to C$9 from C$11
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 PPI final demand mm for Nov: Expected -0.1 pct; Prior 0.2 pct
0830 Core PPI final demand mm for Nov: Expected 0.1 pct; Prior 0.4 pct
0830 PPI final demand yy for Nov: Expected 1.4 pct; Prior 1.5 pct
0830 Core PPI final demand yy for Nov: Expected 1.8 pct; Prior 1.8 pct
0955 U Mich sentiment preliminary for Dec: Expected 89.5; Prior 88.8
0955 U Mich conditions preliminary for Dec: Expected 101.4; Prior 102.7
0955 U Mich expectations preliminary for Dec: Expected 80.5; Prior 79.9
0955 U Mich 1Yr Inf preliminary for Dec: Prior 2.8%
0955 U Mich 5-Yr Inf preliminary for Dec: Prior 2.6%
1030 US ECRI Weekly Index: Prior 132.5
1030 US ECRI Weekly Annualized: Prior -2.4%
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$1= C$1.14 Reporting by Pradip Kakoti in Bengaluru; Editing by Saumyadeb Chakrabarty
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