(Adds Canada and U.S. economic data)
May 30 (Reuters) - Canadian stocks looked set to open lower on Friday, after the country’s economic growth slowed more sharply than expected in the first quarter.
June futures on the S&P TSX index <0#SXF:> were down 0.04 percent at 0845 ET.
Canadian consumers scaled back spending and business investment fell during the quarter, making it more likely the central bank will uphold its neutral outlook on interest rates next week.
Industrial product prices also unexpectedly fell 0.2 percent in April, Statistics Canada said, mainly because of a decline in primary non-ferrous metal products and the impact of a strengthening Canadian dollar.
Shares closed lower on Thursday, hurt by a decline in Canadian Imperial Bank of Commerce shares after it reported quarterly results, while stocks of Royal Bank of Canada and other major banks also fell.
Dow Jones Industrial Average futures were down 0.14 percent at 0845 ET, while S&P 500 futures were down 0.13 percent. Nasdaq 100 futures were down 0.04 percent.
Canadian National Railway CEO Claude Mongeau said on Thursday that he expected U.S. regulators to phase out use of DOT-111 tank cars in three to five years, following a deadly explosion in Quebec last year.
Gold futures : $1,254.0; -0.22 pct
US crude : $102.98; -0.58 pct
Brent crude : $109.48; -0.45 pct
LME 3-month copper : $6,904.00; +0.29 pct
Bank of Nova Scotia : CIBC raises rating to sector outperformer from sector performer
Canadian Imperial Bank of Commerce : KBW, NBF raise target price
Royal Bank of Canada : CIBC cuts rating to sector performer from sector outperformer
0830 Personal consumption real mm for April: Actual -0.3 pct Prior +0.7 pct
0830 Personal income mm for April: Actual +0.3 pct, prior +0.5 pct
0830 Consumption, adjusted mm for April: Actual -0.1 pct, prior +0.9 pct
0830 Core PCE price index yy for April: Actual +1.4 pct, prior +1.2 pct
0830 PCE Price index mm for April: Actual +0.2 pct Prior +0.2 pct
0830 Core PCE price index mm for April: Actual +0.2 pct Expected +0.2 pct, prior +0.2 pct
0830 PCE price index yy for April: Actual +1.6 pct Prior +1.1 pct
0945 Chicago PMI for May: Expected +61.0, prior +63.0
0955 U Mich sentiment final for May: Expected +82.5, prior +81.8
0955 U Mich conditions final for May: Expected +95.8, prior +95.1
0955 U Mich expectations fin for May: Expected +74.0, prior +73.2
0955 U Mich 1-Yr inflation fin for May: Prior +3.2 pct
0955 U Mich 5-Yr inflation F for May: Prior +2.8 pct
1030 ECRI weekly index: Prior +135.1
1030 ECRI weekly annualized: Prior +5.0 pct
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= $1.09 Canadian) (Reporting by Mononshila Deka in Bangalore; Editing by Savio D‘Souza and Kirti Pandey)