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%.
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%
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Canadian Market Directory
($ 1 = CA $ 1.27)
Amal S report in Bangalore; edited by Uttaresh.V
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