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Toronto futures fall on weak oil prices; GDP data in focus By Reuters

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© Reuters. FILE PHOTO – The Art Deco façade of Toronto’s original Toronto Stock Exchange Building can be seen at Bay Street, Toronto, Ontario Canada, January 23rd 2019. REUTERS/Chris Helgren

(Reuters) – Canadian stock futures fell on Friday due to weakness in oil prices. Investors are awaiting data on GDP for clues as to the country’s pace of economic recovery.

Oil dropped below $78 per barrel due to the possibility that OPEC+ producers may increase their planned output in order to alleviate supply worries. [O/R]

December futures on the S&P/TSX index were down 0.5% at 7:00 a.m. ET.

At 08:30 AM, data for Canada’s July GDP are due. ET. At 09:30 AM, manufacturing sales data are expected for September. ET.

The Toronto Stock Exchange’s S&P/TSX composite index ended 0.44% lower at 20,070.25 on Thursday, marking a two-month closing low. ()

At 7:00 AM, they were down by 156 points or 0.46 percent. ET were lower by 17.75 points or 0.411%, and down 56.5 points or 0.38%. ()

TOP STORIES [TOP/CAN]

Toronto-Dominion Bank is the first Canadian bank to raise fixed mortgage rates. It did so after recent cuts, which were reversed by bond yields that jumped in the week ahead of inflation.

HIGHLIGHTS ON ANALYST REsearch [RCH/CA]

Capreit: TD Securities increases target price from C$70 to C$72

Enthusiast Games Holdings Inc. RBC begins coverage with an “outperform” rating

Guru Organic Energy Corp. CIBC launches coverage with an “outperform” rating

COMMODITIES AT 7:00 a.m. ET

: $1753 / -0.19% [GOL/]

US crude oil $74.46; US crude oil -0.73% [O/R]

: $77.89, -0.54% [O/R]

U.S. ECONOMIC DATA DUE FRIDAY

0830 Personal Income mm Aug: Predicted 0.3%

0830 Aug Personal Consumption Real mm: Before -0.1%

0830 Consumption Adjusted mm For Aug: 1.6% Expected; Prior 0.3%

0830 Core Price Index mm August: 0.2% Expected; Prior 0.3%

0830 Core Price Index YY for August: Expected to be 3.6%. Prior was 3.6%

0830 PCE Price Index mm Aug: Prior 0.4%

0830 PCE price index for August yy: Previous 4.2%

0945 Markit Manufacturing PMI for Sep – Prior 60.5

1000 Construction Spending mm Aug: Prior 0.3%

1000 ISM Manufacturing PMI Sep: Expected 59.5; Prior 59.9

1,000 ISM Manufacturing Prices for Sep: Expected 78.5, Prior 79.4

1000 ISM Manufacturing Employment Index Sep. : Previous 49.0

1000 ISM Manufacturing New Orders Index Sep: Prior 66.7

1000 U Mich Sentiment Final Sep: Expected 71.0; Prior 7.1.0

1,000 U Mich Conditions Final Sep : Prior 77.1

1000 U Mich Expectations Sep Final: Prior 67.1

1000 U Mich Inflation Final for Sep: Pre 4.7%

1000 U Mich 5 year inflation last for Sep: Before 2.9%

1200 Dallas fed price for August: Before 3.2%

CANADIAN MARKETS NEWS, CLICK HERE CODES

Market report for TSX ()

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Canadian markets directory

($1 = C$1.27)



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