Aug 30 (Reuters) - Canada’s main stock index was set to open lower on Wednesday as crude oil slid after flooding and damage from Tropical Storm Harvey shut nearly a fifth of U.S. refineries.
Refineries with output of 4.1 million barrels per day (bpd) were offline on Tuesday, representing 23 percent of U.S. production, Goldman Sachs said. Restarting plants even under the best conditions can take a week or more.
September futures on the S&P TSX index were down 0.11 percent at 7:15 a.m. ET.
Current account data for Q2 is due at 08:30 a.m. ET .
Canada’s main stock index rose on Tuesday, clawing back earlier losses after North Korea had fired a ballistic missile over Japan’s northern Hokkaido island, as energy and gold mining shares gained ground.
Dow Jones Industrial Average e-mini futures were up 0.13 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.07 percent and Nasdaq 100 e-mini futures were up 0.14 percent.
Kik Interactive, the Ontario, Canada-based creator of the global chat platform Kik, valued at $1 billion, said on Tuesday it will launch in two weeks the sale of its own crypto currency which is expected to raise $125 million.
ANALYST RESEARCH HIGHLIGHTS
Sunopta Inc: Citigroup cuts target price to $10 from $11.5
Bank of Nova Scotia : CIBC raises target price to C$87 from C$85
COMMODITIES AT 7:15 a.m. ET
Gold futures: $1311.7; -0.11 percent
US crude: $46.14; -0.65 percent
Brent crude: $51.72; -0.54 percent
LME 3-month copper: $6792.5; +0.01 percent
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0815 ADP national employment for Aug: Expected 183000; Prior 178000
0830 Corporate profits preliminary for Q2: Prior -2.6 pct
0830 GDP 2nd estimate for Q2: Expected 2.7 pct; Prior 2.6 pct
0830 GDP sales preliminary for Q2: Expected 2.7 pct; Prior 2.6 pct
0830 GDP cons spending preliminary for Q2: Prior 2.8 pct
0830 GDP deflator preliminary for Q2 : Expected 1.0 pct; Prior 1.0 pct
0830 Core PCE prices preliminary for Q2: Expected 0.9 pct; Prior 0.9 pct
0830 PCE prices preliminary for Q2: Expected 0.3 pct; Prior 0.3 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 = C$1.25) (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by Shounak Dasgupta)
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