May 26 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday as oil prices edged lower, and are set to close at a weekly loss of more than 3 percent.
The Organization of Petroleum Exporting Countries' (OPEC) decision to extend output cuts until the first quarter of 2018, disappointed investors betting on longer or deeper cuts. futures on the S&P TSX index SXFc1 were down 0.12 percent at 7:15 a.m. ET.
Canada's main stock index dipped on Thursday as a plunge in oil prices weighed on energy shares, offsetting gains for industrials and financials after quarterly earnings from some major banks impressed investors. Jones Industrial Average e-mini futures 1YMc1 were down 0.10 percent at 7:15 a.m. ET. S&P 500 e-mini futures ESc1 were down 0.13 percent and Nasdaq 100 e-mini futures NQc1 were down 0.08 percent. .N
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TOP STORIES TOP/CAN
Taiwan's Cathay Financial Holdings 2882.TW said its two subsidiaries have completed an agreement to acquire the Malaysia unit of Bank of Nova Scotia BNS.TO for $255 million. Morgan Inc KMI.N has made a final investment decision on its Trans Mountain pipeline expansion, contingent on the successful public offering of its Canadian division, the company said on Thursday as it acknowledges the political uncertainty weighing on the project. oil and gas land sales have reached levels not seen since 2014 thanks to a rush to buy land in an oil-rich pocket of the Duvernay shale play that was until recently written off as being uneconomic. RESEARCH HIGHLIGHTS RCH/CA
Tembec Inc TMB.TO : TD Securities raises target price to C$4.25 from C$4
Cenovus Energy Inc CVE.TO : Credit Suisse (SIX:CSGN) reinstates coverage with "outperform" rating; target price C$20
Hydro One Ltd H.TO : Credit Suisse reinstates coverage with "neutral" rating, target price of C$26
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,266.7; +0.82 pct GOL/
US crude CLc1 : $48.81; -0.18 pct O/R
Brent crude LCOc1 : $51.39; -0.12 pct O/R
LME 3-month copper CMCU3 : $5,691.50; -0.57 pct MET/L
U.S. ECONOMIC DATA DUE ON FRIDAY
08:30 Corporate profits preliminary for Q1: Expected 2.3 pct; Prior 2.3 pct
08:30 Durable goods for April: Expected -1.2 pct; Prior 1.7 pct
08:30 Durables ex-transport for April: Expected 0.5 pct; Prior 0.8 pct
08:30 Durables ex-defense mm for April: Expected 0.0 pct; Prior 1.0 pct
08:30 Nondefense cap ex-air for April: Expected 0.5 pct; Prior 0.5 pct
08:30 GDP 2nd estimate for Q1: Expected 0.9 pct; Prior 0.7 pct
08:30 GDP sales preliminary for Q1: Expected 1.8 pct; Prior 1.6 pct
08:30 GDP cons spending preliminary for Q1: Prior 0.3 pct
08:30 GDP deflator preliminary for Q1: Expected 2.3 pct; Prior 2.2 pct
08:30 Core PCE prices preliminary for Q1: Expected 2.0 pct; Prior 2.0 pct
08:30 PCE prices preliminary for Q1: Expected 2.4 pct; Prior 2.4 pct
10:00 U Mich Sentiment Final for May: Expected 97.5; Prior 97.7
10:00 U Mich Conditions Final for May: Expected 112.5; Prior 112.7
10:00 U Mich Expectations Final for May: Expected 87.9; Prior 88.1
10:00 U Mich 1 year inflation final for May: Prior 2.6 pct
10:00 U Mich 5-year inflation final for May: Prior 2.3 pct
10:30 ECRI Weekly Index: Prior 144.5
10:30 ECRI weekly annualized: Prior 5.0 pct
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