US Markets

TSX futures fall on weaker oil prices

Credit: REUTERS/CHRIS HELGREN

Canada's main stock index futures fell on Thursday, weighed down by weaker oil prices as OPEC along with Russia accepted to ease supply curbs from August.

July 16 (Reuters) - Canada's main stock index futures fell on Thursday, weighed down by weaker oil prices as OPEC along with Russia accepted to ease supply curbs from August.

OPEC and its allies will reduce their production cuts to 7.7 million barrels per day through December from the 9.7 million bpd in place since May.

September futures on the S&P/TSX index SXFc1 were down 0.63% at 7:00 a.m. ET.

Data for Canada's foreign investment in securities for May is due at 8:30 a.m. ET.

On Wednesday, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.97% higher at 16,063.33.

Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.58% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.66% and Nasdaq 100 e-mini futures NQc1 were down 1.39%. .N

TOP STORIES TOP/CAN

Canada's economic activity will not return to pre-pandemic levels until 2022 and interest rates will remain low for at least two years, the Bank of Canada said on Wednesday, as it again held its key overnight rate steady.

Canada's efforts to flatten the curve of coronavirus cases have put the country on the cusp of zero deaths from COVID-19 for the first time since March, but officials see worrying signs of a new spike as provinces lift restrictions.

ANALYST RESEARCH HIGHLIGHTS RCH/CA

Savaria Corp SIS.TO: Scotiabank raises target price to C$16 from C$14.50 Kinaxis Inc KXS.TO: CIBC raises target price to C$230 from C$205

COMMODITIES AT 7:00 a.m. ET

Gold futures GCc2: $1,807.5; -0.35% GOL/

US crude CLc1: $40.7; -1.21% O/R

Brent crude LCOc1: $43.42; -0.84% O/R

U.S. ECONOMIC DATA DUE ON THURSDAY

08.30 Initial jobless claim : Expected 1,250,000; Prior 1,314,000

08.30 Jobless claim 4 week average : Prior 1,437,250

08.30 Continued jobless claim : Expected 17.600 mln; Prior 18.062 mln

08.30 Philly Fed Business Index for Jul: Expected 20.0; Prior 27.5

08.30 Philly Fed 6M Index for Jul: Prior 66.30

08.30 Philly Fed Capex Index for Jul: Prior 26.30

08.30 Philly Fed Employment for Jul: Prior -4.30

08.30 Philly Fed Prices Paid for Jul: Prior 11.10

08.30 Philly Fed New Orders for Jul: Prior 16.70

08.30 Retail sales ex-autos mm for Jun: Expected 5.0%; Prior 12.4%

08.30 Retail sales mm for Jun: Expected 5.0%; Prior 17.7%

08.30 Retail ex gas/autos for Jun: Prior 12.4%

08.30 Retail control for Jun: Expected 3.6%; Prior 11.0%

08.30 Retail sales YoY for Jun: Prior -6.08%

10.00 Business inventories mm for May: Expected -2.3%; Prior -1.3%

10.00 Retail inventories ex-auto rev for May: Prior -1.5%

10.00 NAHB Housing Market Index for Jul: Expected 60; Prior 58

16.00 Net L-T flows, exswaps for May: Prior -128.48 bln

16.00 Foreign buying, T-bonds for May: Prior 176.7 bln

16.00 Overall net capital flows for May: Prior 125.3 bln

16.00 Net L-T flows, inclusive swaps for May: Prior -155.1 bln

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$1.35)

(Reporting by Shivani Kumaresan in Bengaluru; Editing by Maju Samuel)

((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780;))

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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