May 24, 2019 / 11:27 AM / 3 months ago

CANADA STOCKS-TSX futures rise on higher oil prices

May 24 (Reuters) - Futures for Canada’s main equity index rose on Friday, as oil prices rose after two sessions of losses.

However, crude prices remained on track for its biggest weekly drop this year due to rising inventories and concerns of a global economic slowdown.

June futures on the S&P/TSX index were up 0.43% at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX fell 162.74 points, or 1%, to 16,164.61 on Thursday.

Dow Jones Industrial Average e-mini futures were up 0.67% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.65% and Nasdaq 100 e-mini futures were up 0.58%.

ANALYST RESEARCH HIGHLIGHTS

Heroux Devtek Inc: TD Securities raises price target to C$22 from C$19.50

Prairiesky Royalty Ltd: RBC cuts price target to C$24 from C$26

Toronto-Dominion Bank: Credit Suisse raises price target to C$83 from C$81

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1281.2; -0.33%

US crude: $58.56; +1.12%

Brent crude: $68.58; +1.21%

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Durable goods for Apr: Expected -2.0%; Prior 2.6%

0830 Durables ex-transport for Apr: Expected 0.2%; Prior 0.3%

0830 Durables ex-defense mm for Apr: Prior 2.2%

0830 Non-defense capital goods ex-aircraft for Apr: Expected -0.3%; Prior 1.4%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

Reporting by Yoganand KN in Bengaluru; Editing by Arun Koyyur

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