March 3 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday, with the U.S. dollar holding on to this week's gains on growing speculation that the U.S. Federal reserve would raise interest rate this month.
Traders raised their stakes ahead of a speech from Federal Reserve Chair Janet Yellen later on Friday that the Fed would raise short-term borrowing costs at its upcoming March meeting. futures on the S&P TSX index SXFc1 were down 0.16 percent at 7:15 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index closed down 0.40 percent at 15,536.65 on Thursday, as gold miners and other resource stocks lost ground along with lower commodity prices, while a major oil producer surged on strong earnings. Jones Industrial Average e-mini futures 1YMc1 were down 0.04 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.14 percent and Nasdaq 100 e-mini futures NQc1 were down 0.18 percent. .N
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TOP STORIES TOP/CAN
Canada's economy grew at a faster pace than anticipated in the final quarter of 2016, lifted by consumer spending and a drop in imports, but the strong performance is not expected to prod the central bank to change its cautious stance on interest rates. Mackey, BlackBerry Ltd's BB.TO , BBRY.O head of corporate development and strategy, left the technology company in mid-February, he said on Thursday, leaving a leadership gap as it transitions to software from smartphone hardware. RESEARCH HIGHLIGHTS RCH/CA
Canadian Western Bank CWB.TO : CIBC raises target price to C$32 from C$31
Cascades CAS.TO : National Bank Financial raises target price to C$13.5 from C$12.5
NewCastle Gold NCA.TO : National Bank Financial starts with outperform; C$1.7 target price
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1231.5; -0.03 percent GOL/
US crude CLc1 : $52.71; +0.19 percent O/R
Brent crude LCOc1 : $55.24; +0.31 percent O/R
LME 3-month copper CMCU3 : $5920; -0.22 percent MET/L
U.S. ECONOMIC DATA DUE ON FRIDAY
09:45 Markit Composite Final PMI for Feb: Prior 54.3
09:45 Markit Services PMI Final for Feb: Prior 53.9
10:00 ISM N-Manufacturing PMI for Feb: Expected 56.5; Prior 56.5
10:00 ISM N-Manufacturing Business Activity for Feb: Expected 60.0; Prior 60.3
10:00 ISM N-Manufacturing Employment Index for Feb: Prior 54.7
10:00 ISM N-Manufacturing New Orders Index for Feb: Prior 58.6
10:00 ISM N-Manufacturing Price Paid Index for Feb: Prior 59.0
10:30 ECRI Weekly Index: Prior 144.6
10:30 ECRI weekly annualized: Prior 10.5 pct
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Reuters global stocks poll for Canada EQUITYPOLL1 EPOLL/CA
Canadian markets directory CANADA ($1 = C$1.34)