July 10, 2014 / 11:33 AM / 3 years ago

CANADA STOCKS-TSX futures indicate lower start post-Fed

3 Min Read

July 10 (Reuters) - Canadian stocks looked set to open lower on Thursday, as global traders fretted over whether markets will be able to thrive once the U.S. Fed stops pumping funds in the system.

June futures on the S&P TSX index <0#SXF:> were down 0.55 percent at 0715 ET.

New-housing price data for May is due at 0830 ET.

The market advanced on Wednesday after minutes from the Federal Reserve's June meeting offered details about its stimulus program phase-out and more clarity on its ideas about raising interest rates.

Dow Jones Industrial Average e-mini futures were down 0.89 percent at 0715 ET, while S&P 500 e-mini futures were down 0.94 percent. Nasdaq 100 e-mini futures were down 0.96 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

Cogeco Cable Inc reported a lower third-quarter profit and cut its full-year profit outlook by 10.6 percent due to impairment charges at Cogeco Cable Canada.

Canada is considering issuing more ultra-long bonds, maturing in 50 years, which would allow the government to lock in borrowing costs near historic lows through an expansion of an offering first made earlier this year.

The Globe and Mail newspaper reached a tentative contract deal with the union representing its editorial, advertising sales and circulation workers, likely averting a work stoppage at the country's largest national daily.

Commodities at 0715 Et

Gold futures : $1,341.8; +1.32 pct

US crude : $101.74; -0.54 pct

Brent crude : $108.06; -0.2 pct

LME 3-month copper : $7,098.00; -0.38 pct

Analyst Research Highlights

Air Canada : CIBC raises target to C$14.25 from C$11; rating sector outperformer

Canyon Services Group : CIBC raises target to C$22 from C$19.50; sector performer

Theratechnologies Inc : Canaccord Genuity cuts target to C$0.50 from C$0.55; rating hold

u.s. Economic Data Due on Thursday

0830 Initial jobless claims: Expected +315,000, prior +315,000

0830 Jobless claims 4-week average: Prior +315,000

0830 Continued jobless claims: Expected +2.567 mln, prior +2.579 mln

1000 Wholesale inventories mm for May: Expected +0.6 pct, prior +1.1 pct

1000 Wholesale sales mm for May: Expected +0.7 pct, prior +1.3 pct

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= $1.07 Canadian Reporting by Mononshila Deka in Bangalore; Editing by Ted Kerr

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