Dec 12 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Wednesday as oil prices rose supported by a drop in U.S. crude inventories and a cut in Libyan supplies.
U.S. crude inventories fell more than expected in the latest week, while gasoline stockpiles decreased and distillate stocks built, industry group the American Petroleum Institute said on Tuesday. futures on the S&P/TSX index SXFc1 were up 0.79 percent at 7:00 a.m. ET.
Statistics Canada is scheduled to report industrial capacity utilisation data for the third quarter at 8:30 a.m. ET.
The Toronto Stock Exchange's S&P/TSX .GSPTSE fell 60.45 points, or 0.41 percent, to 14,667.83 on Tuesday. Jones Industrial Average e-mini futures 1YMc1 were up 0.65 percent at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.66 percent and Nasdaq 100 e-mini futures NQc1 were up 0.86 percent. .N
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Just Energy Group Inc JE.TO : RBC raises price target to C$5.50 from C$5
North West Company Inc NWC.TO : Barclays (LON:BARC) raises rating to "overweight" from "equal-weight"
Cargojet Inc CJT.TO : Canaccord Genuity initiates coverage with "buy" rating; C$90 price target
COMMODITIES AT 7:00 a.m. ET COM/WRAP
Gold futures GCcv1 : $1245.6; +0.23 percent GOL/
US crude CLc1 : $52.6; +1.84 percent O/R
Brent crude LCOc1 : $61.16; +1.59 percent O/R
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Core CPI mm, SA for Nov: Expected 0.2 pct; Prior 0.2 pct
0830 Core CPI yy, NSA for Nov: Expected 2.2 pct; Prior 2.1 pct
0830 CPI Index, NSA for Nov: Expected 252.055; Prior 252.885
0830 Core CPI Index, SA for Nov: Prior 258.94
0830 CPI mm, SA for Nov: Expected 0.0 pct; Prior 0.3 pct
0830 CPI yy, NSA for Nov: Expected 2.2 pct; Prior 2.5 pct
0830 Real weekly earnings mm for Nov: Expected 0.3 pct; Prior 0.1 pct
0830 CPI mm NSA for Nov: Prior 0.180 pct
0830 CPI index SA for Nov: Prior 252.83
1100 Cleveland fed CPI for Nov: Prior 0.2 pct
1100 TR IPSOS PCSI for Dec: Prior 62.72
1400 Federal budget, for Nov: Prior -$100.00 bln
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