Renewable Energy

TSX futures down as global demand concerns hit oil prices

Credit: REUTERS/CHRIS HELGREN

Futures pointed to a lower opening for Canada's main stock index on Friday on fears that trade disputes may hurt global oil demand, a day after tanker attacks in the Gulf of Oman lifted oil prices sharply.

June 14 (Reuters) - Futures pointed to a lower opening for Canada's main stock index on Friday on fears that trade disputes may hurt global oil demand, a day after tanker attacks in the Gulf of Oman lifted oil prices sharply.

The International Energy Agency cut its demand growth forecast for 2019 by 100,000 barrels per day (bpd) to 1.2 million bpd.

The Organization of the Petroleum Exporting Countries had on Thursday cut its 2019 forecast for growth in global oil demand even lower than the IEA, to 1.14 million bpd.

June futures on the S&P/TSX index SXFc1 were down 0.3% at 7:00 a.m. ET.

The Toronto Stock Exchange's S&P/TSX .GSPTSE rose 0.07% to 16,239.26 on Thursday.

Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.19% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.3% and Nasdaq 100 e-mini futures NQc1 were down 0.78%. .N

ANALYST RESEARCH HIGHLIGHTS RCH/CA

Dollarama Inc DOL.TO: CIBC raises target price to C$48 from C$44

Hudson's Bay Co HBC.TO: Cowen and Company raises target price to C$12 from C$10

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

Gold futures GCc2: $1356; +1.13% GOL/

US crude CLc1: $52.05; -0.44% O/R

Brent crude LCOc1: $61.2; -0.18% O/R

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Retail sales ex-autos mm for May: Expected 0.3%; Prior 0.1%

0830 Retail sales mm for May: Expected 0.6%; Prior -0.2%

0830 Retail ex gas/autos for May: Prior -0.2%

0830 Retail control for May: Expected 0.4%; Prior 0.0%

0830 Retail sales YoY for May: Prior 3.12%

0915 Industrial production mm for May: Expected 0.2%; Prior -0.5%

0915 Capacity utilization SA for May: Expected 78.0%; Prior 77.9%

0915 Manufacturing output mm for May: Expected 0.1%; Prior -0.5%

0915 Industrial production YoY for May: Prior 0.89%

1000 Business inventories mm for Apr: Expected 0.5%; Prior 0.0%

1000 Retail inventories ex-auto revenue for Apr: Prior 0.4%

1000 U Mich Sentiment Preliminary for Jun: Expected 98; Prior 100.0

1000 U Mich Conditions Preliminary for Jun: Expected 109.2; Prior 110

1000 U Mich Expectations Preliminary for Jun: Expected 92; Prior 93.5

1000 U Mich 1 year inflation preliminary for Jun: Prior 2.9%

1000 U Mich 5-year inflation preliminary for Jun: Prior 2.6%

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$1.33)

(Reporting by Nayyar Rasheed in Bengaluru; Editing by Arun Koyyur)

((Email: nayyar.abdulrasheed@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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