March 2, 2017 / 12:38 PM / 5 months ago

CANADA STOCKS-Oil prices drag TSX futures lower

3 Min Read

March 2 (Reuters) - Canada's main stock index was set for a lower start on Thursday, a day after scoring its biggest points gain in 10 months, as oil prices slipped following a surge in U.S. crude inventories.

March futures on the S&P TSX index were down 0.11 percent at 7:15 a.m. ET.

Canadian quarterly GDP data is due at 8:30 a.m. ET

The Toronto Stock Exchange's S&P/TSX composite index rallied on Wednesday as its financial services group cheered prospects for a March interest rate hike by the Federal Reserve.

Dow Jones Industrial Average e-mini futures were down 0.04 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.08 percent and Nasdaq 100 e-mini futures were down 0.01 percent.

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Top Stories

Toronto-Dominion Bank reported quarterly earnings ahead of market expectations, helped by a strong performance in both the United States and Canada.

Canadian Natural Resources Ltd reported a quarterly profit that blew past analysts' expectations, driven by higher realized prices from North America and low costs.

Analyst Research Highlights

GDI Integrated Facility Services: CIBC raises target price to C$19 from C$17

National Bank of Canada: Desjardins raises price target to C$59 from C$56; rating "hold"

Shopify Inc: National Bank starts coverage with rating "outperform", C$80 target price


Gold futures: $1245.4; -0.28 percent

US crude: $53.37; -0.85 percent

Brent crude: $55.88; -0.85 percent

LME 3-month copper: $6000; -0.27 percent

u.s. Economic Data Due on Thursday

08:30 Initial jobless claims: Expected 243,000; Prior 244,000

08:30 Jobless claims 4-week average: Prior 241,000

08:30 Continued jobless claims: Expected 2.065 mln; Prior 2.060 mln

09:45 ISM-New York Index for Feb: Prior 731.3

09:45 ISM New York Business Conditions for Feb: Prior 57.7

For Canadian Markets News, Click on Codes:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.34) (Reporting by Shradha Singh in Bengaluru; Editing by Savio D'Souza)

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