October 4, 2017 / 11:32 AM / in 17 days

CANADA STOCKS-Oil prices weigh on TSX futures

Oct 4 (Reuters) - Canada’s main stock index futures dipped on Wednesday as oil prices fell on caution that rising U.S. crude output could scupper a rally that lasted for most of the third quarter.

December futures on the S&P TSX index were down 0.09 percent at 7:15 a.m. ET.

Canada’s benchmark stock index rose slightly on Tuesday as gains in the resource and financial sectors offset a decline in shares of TMX Group after Scotia Capital and Alberta Investment Management said they would cut their stake in the stock exchange operator.

Dow Jones Industrial Average e-mini futures were down 0.05 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.06 percent and Nasdaq 100 e-mini futures were down 0.08 percent.

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TOP STORIES

Toronto-Dominion Bank is opening an office in Tel Aviv, Israel, to recruit workers with cutting edge cyber security skills, after finding a shortage of talent in North America, a top TD executive said.

Toronto home sales plunged in September from a year earlier and prices were down 15.5 percent from their April peak, but sales and prices inched up from August, suggesting housing in Canada’s largest city may be stabilizing, data showed.

Canadian auto sales rose 7.7 percent in September, driven by strong demand for trucks, which made up for nearly 70 percent of total sales in the country.

ANALYST RESEARCH HIGHLIGHTS

Crown Capital Partners Inc: Raymond James cuts price target to C$11.50 from C$12

Pengrowth Energy Corp: Canaccord Genuity raises price target to C$0.90 from C$0.85

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1279.7; +0.64 percent

US crude: $50.27; -0.3 percent

Brent crude: $55.8; -0.36 percent

LME 3-month copper: $6500.5; -0.3 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0815 ADP national employment for Sep: Expected 125,000; Prior 237,000

0945 Markit Composite Final PMI for Sep: Prior 54.6

0945 Markit Services PMI Final for Sep: Expected 55.1

1000 ISM N-Manufacturing PMI for Sep: Expected 55.5; Prior 55.3

1000 ISM N-Manufacturing Business Activity for Sep: Expected 57.2; Prior 57.5

1000 ISM N-Manufacturing Employment Index: Prior 56.2

1000 ISM N-Manufacturing New Orders Index for Sep: Prior 57.1

1000 ISM N-Manufacturing Price Paid Index for Sep: Prior 57.9

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$1.25) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Savio D‘Souza)

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