US Markets

CANADA STOCKS-Futures slip on lower oil prices

Credit: REUTERS/MARK BLINCH

Canada's main stock index futures edged lower on Wednesday, weighed by lower oil prices, which declined on data showing a bigger-than-expected rise in U.S. crude stocks.

October 23 (Reuters) - Canada's main stock index futures edged lower on Wednesday, weighed by lower oil prices, which declined on data showing a bigger-than-expected rise in U.S. crude stocks.

However, the prospect of a deeper output cuts by OPEC and its allies offered support.

December futures on the S&P/TSX index SXFc1 were down 0.1% at 7:00 a.m. ET.

Wholesale trade data for August is due at 8:30 a.m. ET

The Toronto Stock Exchange's S&P/TSX composite index fell 0.16% to 16,391.52 on Tuesday.

Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.29% at 7:00 a.m. ET, S&P 500 e-mini futures ESc1 0.17% and Nasdaq 100 e-mini futures NQc1 0.11%. .N

TOP STORIES TOP/CAN

Canadian National Railway Co CNR.TO cut its adjusted profit forecast for the year and said it expects the first half of 2020 to be "challenging" as freight demand in North America takes a hit from a weakening economy.

ANALYST RESEARCH HIGHLIGHTS RCH/CA

Capital Power Corp CPX.TO: CIBC cuts target price to C$32 from C$33

Enbridge Inc ENB.TO: CIBC cuts target price to C$56 from C$57

Fortis Inc FTS.TO: CIBC raises target price to C$57 from C$56

COMMODITIES AT 7:00 a.m. ET COM/WRAP

Gold futures GCc2: $1490.6; +0.47% GOL/

US crude CLc1: $53.94; -0.99% O/R

Brent crude LCOc1: $59.25; -0.75% O/R

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0900 Monthly home price mm for Aug: Prior 0.4%

0900 Monthly home price yy for Aug: Prior 5.0 %

0900 Monthly Home Price Index for Aug: Prior 276.9

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report .TO

Canadian dollar and bonds report CAD/CA/

Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA

Canadian markets directory CANADA

($1= C$1.31)

(Reporting by Nachiket Tekawade in Bengaluru; Editing by Shinjini Ganguli)

((nachiket.tekawade@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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