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CORRECTED-CANADA STOCKS-Futures lower on concerns over Trump
May 17, 2017 / 11:51 AM / 4 months ago

CORRECTED-CANADA STOCKS-Futures lower on concerns over Trump

(Corrects numbers under the “commodities” section)

May 17 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Wednesday, mirroring trends in global stocks as investors showed concerns about political turmoil in the United States.

Concern that U.S. President Donald Trump’s reform agenda could be slowed down, and that Trump himself could even face the threat of impeachment, added to disappointing U.S. economic data to hit the dollar and spur a pullback from richly valued stocks.

June futures on the S&P TSX index were down 0.16 percent at 7:15 a.m. ET.

Investors will also watch for manufacturing sales data, which is likely to have jumped 1 percent in March, rebounding from a 0.2 percent fall in February. The data is due at 8:30 a.m. ET.

Canada’s main stock index fell on Tuesday as bank and energy shares, pinched by housing market jitters and lower oil prices, weighed on the market.

Dow Jones Industrial Average e-mini futures were down 0.35 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.35 percent and Nasdaq 100 e-mini futures were down 0.28 percent.

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TOP STORIES

Canada’s biggest non-bank lender, Home Capital Group Inc , on Tuesday published data showing that its deposit balances were continuing to decline.

BlackBerry Ltd is working with at least two automakers to develop a security service that would remotely scan vehicles for computer viruses and tell drivers to pull over if they were in critical danger, according to a financial analyst.

ANALYST RESEARCH HIGHLIGHTS

BCE Inc: Morgan Stanley raises target price to C$62 from C$61

Telus Corp: Morgan Stanley raises target price to C$46 from C$44

COMMODITIES AT 7:55 a.m. ET

Gold futures: $1,247.7; +0.91 pct

US crude: $48.90; +0.47 pct

Brent crude: $52.00; +0.66 pct

LME 3-month copper: $5,607.00; -0.05 pct

U.S. ECONOMIC DATA DUE ON WEDNESDAY

No U.S. economic indicators are scheduled for release.

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$1.36) (Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel)

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