July 8 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Monday, as investors scaled back expectations for a hefty rate cut by the U.S. Federal Reserve.
Strong U.S. jobs data last week put off bets that the U.S. central bank would give in to calls for aggressive policy easing. futures on the S&P/TSX index SXFc1 were down 0.31% at 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX .GSPTSE fell 46.86 points, or 0.28 percent, to 16,541.99 on Friday. Jones Industrial Average e-mini futures 1YMc1 were down 0.22% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.19% and Nasdaq 100 e-mini futures NQc1 were down 0.38%. .N
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Agnico Eagle Mines Ltd AEM.TO : J.P. Morgan raises target price to C$68 from C$65
Franco-Nevada Corp FNV.TO : J.P. Morgan raises target price to C$110 from C$97.5
Rogers Communications Inc RCIb.TO : J.P. Morgan cuts rating to "underweight" from "neutral"
COMMODITIES AT 7:00 a.m. ET COM/WRAP
Gold futures GCc2 : $1,406.8; +0.48% GOL/
US crude CLc1 : $57.44; -0.12% O/R
Brent crude LCOc1 : $64.17; -0.1% O/R
U.S. ECONOMIC DATA DUE ON MONDAY
1000 Employment Trends for Jun: Prior 111.6
1500 Consumer credit for May: Expected $17.00 bln; Prior $17.50 bln
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