June 10, 2020 / 11:37 AM / a month ago

CANADA STOCKS-TSX futures down on falling oil prices

June 10 (Reuters) - Canada’s main stock index futures fell on Wednesday, as oil prices dropped after a report showed an increase in U.S. crude inventories.

The report from the American Petroleum Institute, an industry group, said crude stocks rose by 8.4 million barrels, rather than falling as analysts forecast.

June futures on the S&P/TSX index were down 0.23% at 7:00 a.m. ET.

On Tuesday, the Toronto Stock Exchange’s S&P/TSX composite index ended 0.88% lower at 15,833.74.

Dow Jones Industrial Average e-mini futures were down 0.08% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.04% and Nasdaq 100 e-mini futures were up 0.35%.

TOP STORIES

Canadian discount retailer Dollarama Inc beat estimates for quarterly sales on Wednesday, as consumers bought more groceries and other essentials per visit to its stores amid the coronavirus crisis.

Canadian IT and consultancy company CGI Inc said on Tuesday former Bank of Canada governor Stephen Poloz has joined its board.

ANALYST RESEARCH HIGHLIGHTS

Alimentation Couche-Tard Inc: TD Securities raises price target to C$49 from C$43

Chartwell Retirement Residences: Scotiabank raises rating to sector outperform from sector perform

Equinox Gold Corp: TD Securities raises price target to C$21 from C$20

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1721; +0.23%

US crude: $37.98; -2.47%

Brent crude: $40.37; -1.97%

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Core CPI mm, SA for May: Expected 0.0%; Prior -0.4%

0830 Core CPI yy, NSA for May: Expected 1.3%; Prior 1.4%

0830 CPI Index, NSA for May: Expected 256.837; Prior 256.389

0830 (approx.) Core CPI Index, SA for May: Prior 265.60

0830 CPI mm, SA for May: Expected 0.0%; Prior -0.8%

0830 CPI yy, NSA for May: Expected 0.2%; Prior 0.3%

0830 Real weekly earnings mm for May: Prior 5.8%

0830 (approx.) CPI mm NSA for May: Prior -0.670%

0830 (approx.) CPI Index SA for May: Prior 255.900

1100 (approx.) Cleveland fed CPI for May: Prior 0.1%

1400 Fed funds target rate for 10 Jun: Prior 0-0.25%

1400 Federal budget, for May: Expected -$625.00 bln; Prior -$738.00 bln

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 Yoganand KN in Bengaluru; Editing by Krishna Chandra Eluri)

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