Dec 14 (Reuters) - Canada stock futures were lower on Wednesday as oil prices fell and ahead of a widely expected U.S. interest rate hike.
Oil fell more than 1 percent after industry data showed an unexpected rise in U.S. inventories and on concerns that the OPEC may have produced more crude in November. O/R
The U.S. Federal Reserve will conclude its two-day policy meeting later in the day, with an interest rate increase all but assured, and will issue new forecasts assessing whether the economic outlook has changed since the U.S. election. futures on the S&P TSX index SXFc1 were down 0.2 percent at 7:15 a.m. ET.
December Thomson Reuters/Ipsos Primary Consumer Sentiment Index data is due at 11:00 a.m. ET. ECONCA
Canada's main stock index rose to a fresh 19-month high on Tuesday, led by gains in heavyweight energy and banking stocks, while materials stocks weighed. Jones Industrial Average e-mini futures 1YMc1 were up 0.01 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.03 percent and Nasdaq 100 e-mini futures NQc1 were up 0.08 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s ; The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Canadian chemical company Canexus Corp CUS.TO , which rejected a hostile bid from Chemtrade Logistics Income Fund CHE_u.TO , confirmed on Tuesday that it is in talks with the company about a higher offer. RESEARCH HIGHLIGHTS RCH/CA
Canadian Natural Resources CNQ.TO : Instinet raises target price to C$48 from C$44
Enerplus Corp ERF.TO : Barclays (LON:BARC) raises target price to C$15 from C$13
Teck Resources Ltd TECKb.TO : Dundee raises target price to C$40 from C$34
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,163.2; +0.47 pct GOL/
US crude CLc1 : $52.24; -1.4 pct O/R
Brent crude LCOc1 : $54.99; -1.33 pct O/R
LME 3-month copper CMCU3 : $5,741.00; +0.88 pct MET/L
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 PPI final demand yy for Nov: Expected 0.9 pct; Prior 0.8 pct
0830 PPI final demand mm for Nov: Expected 0.1 pct; Prior 0.0 pct
0830 PPI ex food/energy yy for Nov: Expected 1.3 pct; Prior 1.2 pct
0830 PPI ex food/energy mm for Nov: Expected 0.2 pct; Prior -0.2 pct
0830 PPI ex food/energy/transport yy for Nov: Prior 1.6 pct
0830 PPI ex food/energy/transport mm for Nov: Prior -0.1 pct
0830 Retail sales mm for Nov: Expected 0.3 pct; Prior 0.8 pct
0830 Retail sales ex-autos mm for Nov: Expected 0.4 pct; Prior 0.8 pct
0830 Retail ex gas/autos for Nov: Prior 0.6 pct
0830 Retail control for Nov: Expected 0.3 pct; Prior 0.8 pct
0915 Industrial production mm for Nov: Expected -0.2 pct; Prior 0.0 pct
0915 Capacity utilization mm for Nov: Expected 75.1 pct; Prior 75.3 pct
0915 Manufacturing output mm for Nov: Expected -0.2 pct; Prior 0.2 pct
1000 Business inventories mm for Oct: Expected -0.1 pct; Prior 0.1 pct
1100 TR IPSOS PCSI for Dec: Prior 55.22
1400 Fed funds target rate: Expected 0.625 pct; Prior 0.375 pct
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1 EPOLL/CA
Canadian markets directory CANADA
($1= C$1.31)