Sept 26 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Monday, as oil prices fluctuated and ahead of a major U.S. presidential debate.
Oil prices were up as the world's largest producers gathered in Algeria to discuss ways to support the market but implied volatility rose to its highest since April 18, when a meeting in Doha among OPEC members to discuss an output freeze ended in an impasse.
The first face-off between Republican Donald Trump and Democrat Hillary Clinton will take place at 9:00 p.m. ET, with investors looking for indications of who could win the race to lead the world's biggest economy. futures on the S&P TSX index SXFc1 were down 0.38 percent at 7:15 a.m. ET.
Canada's benchmark stock index fell on Friday after a strong rally earlier this week, with energy stocks slipping on slumping oil prices on growing skepticism that a deal to curb output could be struck next week. Jones Industrial Average e-mini futures 1YMc1 were down 0.49 percent at 7:15 a.m. ET. S&P 500 e-mini futures ESc1 were down 0.47 percent and Nasdaq 100 e-mini futures NQc1 were down 0.59 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s ; The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Canada's Unifor union has ratified a deal with General Motors Co (NYSE:GM) GM.N that will see C$554 million ($420.84 million) invested in local plants, the labor group said on Sunday as it prepares for related talks with Fiat Chrysler Automobiles NV FCHA.MI . Bombardier Inc BBDb.TO and the China Railway Rolling Stock Corp (CRRC) 601766.SS , longstanding partners in the Chinese domestic rail market, said on Friday they had expanded their relationship to join forces on international bids. RESEARCH HIGHLIGHTS RCH/CA
Paramount Resources Ltd POU.TO : RBC raises target price to C$16 from C$15; rating "sector perform"
Cascades Inc CAS.TO : Desjardins raises to "buy" from "hold"; raises target price to C$15
Agrium Inc AGU.N : Susquehanna raises target price to $116 from $109; rating positive
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCv1 : $1,341.50; -0.01 pct GOL/
US crude CLc1 : $44.95; +1.06 pct O/R
Brent crude LCOc1 : $46.54; +1.42 pct O/R
LME 3-month copper CMCU3 : $4,818.50; -0.76 pct MET/L
U.S. ECONOMIC DATA DUE ON MONDAY
1000 New home sales-units for August: Expected 0.600 mln; Prior 0.654 mln
1000 New home sales change mm for August: Expected -8.8 pct; Prior 12.4 pct
1030 Dallas Fed Manufacturing Business Index for September: Prior -6.20
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