CANADIAN EQUITIES Toronto futures drop on low oil prices; GDP data in focus


Oct. 1 (Reuters) – Weak oil prices weighed on Canadian equity futures on Friday as investors waited for GDP data for clues on the pace of the country’s economic recovery.

Oil fell below $ 78 a barrel with the prospect that OPEC + producers could accelerate the planned increase in production to ease supply problems.

The December S & P / TSX Index futures were down 0.5% at 7 a.m. ET.

Canada’s GDP data for July is due at 8:30 a.m. ET. Manufacturers’ sales data for September is due at 9:30 a.m. ET.

The Toronto Stock Exchange’s S & P / TSX Composite Index (.GSPTSE) ended down 0.44% at 20,070.25 on Thursday, marking a two-month closing low.

Dow e-minis were down 156 points, or 0.46% at 7:00 a.m. ET, while S&P 500 e-minis were down 17.75 points, or 0.41% and Nasdaq e-minis were down 100 were down 56.5 points, or 0.38%.

BEST STORIES

The Toronto-Dominion Bank (TD.TO) became the first major Canadian lender to raise fixed mortgage rates since March, reversing recent cuts after bond yields surged over the past week on inflation expectations .

HIGHLIGHTS OF ANALYST RESEARCH

Capreit (CAR_u.TO): TD Securities raises target price from C $ 70 to C $ 72

Enthusiast Gaming Holdings Inc (EGLX.TO): RBC Launches Cover With “Outperform” Rating

Guru Organic Energy Corp (GURU.TO): CIBC Launches Cover with “Outperformance” Rating

COMMODITIES AT 7:00 a.m. ET

Gold Futures: $ 1753; -0.19%

US crude: $ 74.46; -0.73%

Brent crude: $ 77.89; -0.54%

US ECONOMIC DATA RELEASED ON FRIDAY

8:30 am Personal income mm for August: 0.3% expected; Before 1.1%

0830 Actual personal consumption mm for August: Before -0.1%

0830 Consumption, adjusted in mm for August: 0.6% forecast; Before 0.3%

0830 mm pce core price index for August: 0.2% expected; Before 0.3%

08:30 am Core pce yy price index for August: expected 3.6%; Before 3.6%

0830 PCE mm price index for August: Previous 0.4%

0830 PCE price index yy for August: Before 4.2%

0945 Markit Manufacturing PMI Final for September: Before 60.5

1000 mm construction expenditure for August: 0.3% planned; Before 0.3%

1000 ISM Manufacturing PMI for September: 59.6 expected; Before 59.9

1000 ISM manufacturing prices paid for September: 78.5 expected; Previous 79.4

ISM 1000 manufacturing employment index for September: before 49.0

1000 ISM Manufacturing New Orders Index for Sep: Previous 66.7

1000 U Mich Final Sentiment for September: expected 71.0; Before 71.0

1000 U Mich Final Conditions for Sep: Prior 77.1

1000 U Mich final expectations for September: before 67.1

1000 U Mich 1 year of final inflation for September: Before 4.7%

Final inflation at 5 years in 1000 Mich U for September: before 2.9%

1200 pce from Dallas for August: before 3.2%

FOR CANADIAN MARKET NEWS, CLICK ON THE CODES:

TSX Market Report

Canadian dollar and bonds CA report /

Reuters Global Equity Poll for Canada,

Canadian Market Directory

($ 1 = CA $ 1.27)

Amal S report in Bangalore; edited by Uttaresh.V

Our standards: Thomson Reuters Trust Principles.


Steve R. Hansen

Leave a Reply

Your email address will not be published.