March 2 (Reuters) - Futures for Canada's commodity-heavy main stock index were subdued on Tuesday, tracking a fall in oil prices and as investors refrained from making big bets ahead of GDP data later in the day.
March futures on the S&P/TSX index SXFc1 were down 0.1% at 7:00 a.m. ET.
Brent crude LCOc1 slipped 0.3% to $63.51 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 fell 0.1% to $60.6 as expectations that OPEC producers would agree to raise oil supply in a meeting this week weighed on sentiment, already hit by concerns over slowing Chinese demand. O/R
Canada's GDP data, due at 0830 a.m. ET, is expected to show Q4 annualized growth of 7.5%, while real GDP likely rose 0.3% in December.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1.33% higher at 18,299.62 on Monday. .TO
Dow e-minis 1YMcv1 were down 44 points, or 0.14%, at 7:00 a.m. ET, while S&P 500 e-minis EScv1 were down 10.25 points, or 0.26%, and Nasdaq 100 e-minis NQcv1 were down 44.5 points, or 0.34%. .N
TOP STORIES TOP/CAN
Canada's National Advisory Committee on Immunization released new guidelines on Monday that advise against vaccinating people who are 65 years and older with AstraZeneca (NASDAQ:AZN)'s AZN.L COVID-19 vaccine, citing lack of information about efficacy in that age group. Imperial Bank of Commerce CM.TO and Bank of Montreal BMO.TO have postponed employees' return to the office to June end, derailing an earlier plan to get them back by April, as COVID-19 cases remain high in Canada. RESEARCH HIGHLIGHTS RCH/CA
Bank of Montreal BMO.TO : CIBC raises target price to C$122 from C$120
Cargojet Inc CJT.TO : CIBC cuts target price to C$245 from C$265
Scotiabank BNS.TO : CIBC raises to outperformer from neutral
U.S. ECONOMIC DATA DUE ON TUESDAY
0945 ISM-New York Index for Feb: Prior 818.2
0945 ISM New York Business Conditions for Feb: Prior 51.2
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