Futures pointed to a lower opening for Canada's main stock index on Wednesday as economic worries and rising production hurt oil prices.
March futures on the S&P/TSX index SXFc1 were down 1.4 percent at 7:10 a.m. ET.
Oil prices came under pressure from surging output in major OPEC and non-OPEC producers and due to concerns about an economic slowdown that could weaken demand. Markit Canada Manufacturing Purchasing Managers' index reading is due at 9:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX .GSPTSE ended higher by 100.86 points, or 0.71 percent, to 14,322.86 on Monday. Jones Industrial Average e-mini futures 1YMc1 were down 1.4 percent at 7:15 a.m. ET, S&P 500 e-mini futures ESc1 were down 1.4 percent and Nasdaq 100 e-mini futures NQc1 were down 2.1 percent. .N
TOP STORIES TOP/CAN
The social media accounts and messaging apps of a Canadian businessman detained in China have been active since he was arrested in December on suspicion of being engaged in activity that endangered China's security. gold miner Zijin Mining Group Co Ltd 601899.SS , 2899.HK said it plans to sell up to 8 billion yuan worth of new shares in Shanghai to help fund its purchase of Canada's Nevsun Resources Ltd NSU.TO . RESEARCH HIGHLIGHTS RCH/CA
Canadian National Railway Co CNR.TO : CIBC cuts price target to C$118 from C$120
Cargojet Inc CJT.TO : CIBC cuts price target to C$90 from C$93
Linamar Corp LNR.TO : CIBC cuts price target to C$68 from C$71
COMMODITIES AT 7:00 a.m. ET COM/WRAP
Gold futures GCcv1 : $1,287.6; +0.5 pct GOL/
US crude CLc1 : $44.95; -1.01 pct O/R
Brent crude LCOc1 : $53.3; -0.93 pct O/R
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0945 Markit Manufacturing PMI Final for Dec: Prior 53.9
1030 Texas Service Sector Outlook for Dec: Prior 11.4
1030 Dallas Fed Services Revenues for Dec: Prior 21.4
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($1= C$1.36)