Sept 8 (Reuters) - Stock futures indicated a higher opening for Canada’s main stock index on Thursday, driven by a jump in oil prices after data showed a marked reduction in U.S. crude stocks.
The large drawdown in U.S. crude reserves reflected the temporary impact of Tropical Storm Hermine, which threatened the Gulf Coast refining region last week before moving to the East Coast of the United States.
September futures on the S&P TSX index were up 0.16 percent at 7:10 a.m. ET.
Building permits data and new housing price index data for July is due at 8:30 a.m. ET. Capacity utilization data for the second quarter is also expected at 8:30 a.m. ET.
Canada’s main stock index slipped on Wednesday as shares in some mining and telecom companies and a convenience store operator weighed, although rising energy stocks limited losses.
Dow Jones Industrial Average e-mini futures were up 0.04 percent at 7:10 a.m. ET. S&P 500 e-mini futures were up 0.06 percent and Nasdaq 100 e-mini futures were up 0.02 percent.
An agreement between the European Union and Canada to share airline passenger data that the two sides say is key to fighting terrorism cannot enter into force as currently drafted, an adviser to the top EU court said.
ANALYST RESEARCH HIGHLIGHTS
New Gold Inc : Desjardins cuts target price to C$7 from C$7.25
Enbridge Inc : Goldman Sachs raises to “buy” from “neutral” on growth visibility
Hudson’s Bay Co : CIBC cuts to “sector performer” from “sector outperformer”
COMMODITIES AT 7:10 a.m. ET
Gold futures : $1,344.90; +0.04 percent
US crude : $46.24; +1.63 percent
Brent crude : $48.59; +1.27 percent
LME 3-month copper : $4,645; -0.11 percent
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims: Expected 265,000; Prior 263,000
0830 Jobless claims 4-week average: Prior 263,000
0830 Continued jobless claims: Expected 2.153 mln; Prior 2.159 mln
1500 Consumer credit for July: Expected 16.00 bln; Prior 12.32 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$1.29 Reporting by Sai Sharanya Khosla in Bengaluru; Editing by Sriraj Kalluvila
Our Standards: The Thomson Reuters Trust Principles.