June 7 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Wednesday as oil prices declined over renewed concerns about the effectiveness of OPEC-led production cuts.
Rising U.S. crude oil production, and ongoing diplomatic tensions in the Middle East could hamper the decision taken by OPEC and other producers to extend oil output cuts. futures on the S&P TSX index SXFc1 were down 0.12 percent at 7:15 a.m. ET.
Building permits data for April is due at 8:30 a.m. ET. ECONCA
Canada's benchmark stock index rose on Tuesday as a surge in oil and gold prices sent energy and mining companies rallying. Jones Industrial Average e-mini futures 1YMc1 were down 0.01 percent at 7:15 a.m. ET. S&P 500 e-mini futures ESc1 were up 0.01 percent and Nasdaq 100 e-mini futures NQc1 were up 0.08 percent. .N
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TOP STORIES TOP/CAN
Canadian dollar-store operator Dollarama Inc DOL.TO reported a 13.9 percent increase in quarterly profit as customers on average spent more at its stores. Inc BBDb.TO said on Tuesday it was confident of winning a trade dispute with Boeing (NYSE:BA) Co BA.N in the United States and dismissed industry suggestions that the row could slow efforts to accelerate sales of its CSeries jet. will seek to play a larger role on the world stage as the United States retreats, Foreign Minister Chrystia Freeland said on Tuesday, in remarks underscoring strains between Washington and its closest allies. RESEARCH HIGHLIGHTS RCH/CA
Major Drilling Group International Inc MDI.TO : Paradigm Capital raises target price to C$9.75 from C$8.50
Sun Life Financial Inc SLF.TO : RBC raises to "outperform" from "sector perform"
Dollarama Inc DOL.TO : Barclays (LON:BARC) raises price target to C$121 from C$115; rating "equal weight"
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,289.7; -0.42 pct GOL/
US crude CLc1 : $47.87; -0.64 pct O/R
Brent crude LCOc1 : $49.75; -0.76 pct O/R
LME 3-month copper CMCU3 : $5,601; -0.27 pct MET/L
U.S. ECONOMIC DATA DUE ON WEDNESDAY
15:00 Consumer credit for April: Expected 15.50 bln; Prior 16.43 bln
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