May 19 (Reuters) - Canada's main stock index was set to open
lower on Thursday on increased chances of a U.S. interest rate
increase in June.
U.S. Federal Reserve officials said it would be appropriate
to raise interest rates in June if economic data points to
stronger second-quarter growth as well as firming inflation and
employment, according to minutes from the latest policy meeting
released on Wednesday.
June futures on the S&P TSX index SXFc1 were down 0.48
percent at 7:30 a.m. ET.
Wholesale Trade data is due at 8:30 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index
retreated on Wednesday as mining and energy stocks fell,
pressured by lower commodity prices after the Fed minutes
release.
Dow Jones Industrial Average e-mini futures 1YMc1 were
down 0.17 percent at 7:30 a.m. ET, while S&P 500 e-mini futures
ESc1 were down 0.21 percent and Nasdaq 100 e-mini futures
NQc1 were down 0.21 percent.
TOP STORIES
Buyout firm Onex Corp OCX.TO has revived an auction for
Carestream Health that could value it at more than $3 billion,
including debt, and is exploring a breakup of the U.S. medical
imaging company, people familiar with the matter said.
Pacific Exploration & Production Corp PRE.TO said its
board was in favor of a restructuring proposal submitted by
Catalyst Capital Group, after comparing it with a bid by EIG
Global Energy Partners. AT 7:30 a.m. ET COM/WRAP
Gold futures GCc2 : $1,254.90; -1.52 pct GOL/
US crude CLc1 : $47.27; -1.91 pct O/R
Brent crude LCOc1 : $47.82; -2.29 pct O/R
LME 3-month copper CMCU3 : $4,583.50; -0.63 pct MET/L
ANALYST RESEARCH HIGHLIGHTS
Acadian Timber Corp ADN.TO : CIBC cuts rating to "sector
underperformer" from "sector performer"
Russel Metals Inc RUS.TO : Raymond James cuts rating to
"market perform" from "outperform"
Touchstone Exploration Inc TXP.TO : Canaccord Genuity cuts
rating to "hold" from "speculative buy"
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims : Expected 275,000; Prior
294,000
0830 Jobless claims 4-week Average: Prior 268,250
0830 Continued jobless claims: Expected 2.163 mln; Prior
2.161 mln
0830 National Activity Index for Apr: Prior -0.44
0830 Philly Fed Business Index for May: Expected 3.5; Prior
-1.6
0830 Philly Fed 6M Index for May: Prior 42.20
0830 Philly Fed Capex Index for May: Prior 12.70
0830 Philly Fed Employment Index for May: Prior -18.50
0830 Philly Fed Prices Paid Index for May: Prior 13.20
0830 Philly Fed New Orders Index for May: Prior 0.00
1000 Leading Index change mm for Apr: Expected 0.4 pct;
Prior 0.2 pct
($1= C$1.31)