Aug 25 (Reuters) - Futures pointed to a higher opening for Canada's main stock index on Friday tracking gains in oil prices, which rose on concerns that Hurricane Harvey could disrupt U.S. oil supplies.
The hurricane, which may become the biggest storm to hit the U.S. mainland in more than a decade, is forecast to make landfall late Friday or early Saturday between Corpus Christi and Houston - both important oil refining centres. light crude CLc1, also known as West Texas Intermediate or WTI, was up 30 cents at $47.73 a barrel by 1015 GMT. Brent crude LCOc1 was 30 cents higher at $52.34. O/R
September futures on the S&P TSX index SXFc1 were up 0.26 percent at 7:15 a.m. ET.
Canada's benchmark stock index inched higher on Thursday, boosted by a sharp jump in Fairfax Financial Holdings Ltd FFH.TO after it sold a Singapore insurer, while Canadian Imperial Bank of Commerce CM.TO fell after it reported a rise in quarterly net income. Jones Industrial Average e-mini futures 1YMc1 were up 0.17 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.24 percent and Nasdaq 100 e-mini futures NQc1 were up 0.3 percent. .N
TOP STORIES TOP/CAN
The sharp reversal in Toronto's home prices has thrown Canada's biggest property market into chaos, with scores of buyers suddenly short of money and desperate to get out of deals that looked good just a few months ago. unions Unifor and the United Auto Workers said they will meet Canada's Minister of Foreign Affairs Chrystia Freeland to discuss plans about the next round of North American Free Trade Agreement renegotiations in Mexico. RESEARCH HIGHLIGHTS RCH/CA
Canadian Imperial Bank Of Commerce CM.TO : Canaccord Genuity cuts price target to C$116 from C$117 ; rating "buy"
Corby Spirit and Wine Ltd CSWa.TO : PI Financial cuts target price to C$24 from C$25.5
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1287.5; +0.08 percent GOL/
US crude CLc1 : $47.71; +0.59 percent O/R
Brent crude LCOc1 : $52.4; +0.69 percent O/R
LME 3-month copper CMCU3 : $6728; +0.6 percent MET/L
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Durable goods for July: Expected -6.0 pct; Prior 6.4 pct
0830 Durables ex-transport for July: Expected 0.4 pct; Prior 0.1 pct
0830 Durables ex-defense mm for July: Prior 6.6 pct
0830 Nondefense cap ex-air for July: Expected 0.3 pct; Prior 0.0 pct
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($1 = C$1.25)