September 24 (Reuters) - Futures pointed to a higher opening for Canada's main stock index on Monday as crude oil prices surged to a four-year high after OPEC rebuffed calls by U.S. President Donald Trump for action to raise global supply.
OPEC leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, on Sunday ruled out any immediate extra increase in output. futures on the S&P/TSX index SXFc1 were up 0.1 percent at 7:05 a.m. ET.
Canada's wholesale trade data for July is due at 8:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX rose 10.25 points, or 0.06 percent, to 16,225 on Friday. Jones Industrial Average e-mini futures 1YMc1 were down 0.12 percent at 7:05 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.14 percent and Nasdaq 100 e-mini futures NQc1 were down 0.37 percent. .N
TOP STORIES TOP/CAN
Canada's Barrick Gold ABX.TO has agreed to buy Randgold Resources Ltd RRS.L in a $18.3 billion share deal to create the world's largest gold company by value and output in an industry under investor pressure to put capital to good use. food retailer Empire Co Ltd EMPa.TO said it would acquire privately held grocer Farm Boy Inc for an enterprise value of C$800 million to increase its presence in Ontario. and Canadian officials trying to reach a deal on NAFTA are "very likely" to hold informal talks on the sidelines of a major U.N. meeting in the next few days, Canadian Prime Minister Justin Trudeau said on Sunday. RESEARCH HIGHLIGHTS RCH/CA
Gluskin Sheff + Associates Inc GS.TO : TD Securities cuts price target to C$16 from C$18
COMMODITIES AT 7:05 a.m. ET COM/WRAP
Gold futures GCc2 : $1,199.1; +0.21 pct GOL/
US crude CLc1 : $71.92; +1.61 pct O/R
Brent crude LCOc1 : $80.61; +2.30 pct O/R
U.S. ECONOMIC DATA DUE ON MONDAY
0830 National Activity Index for Aug: Prior 0.13
1030 Dallas Fed Manufacturing Business Index for Sep: Prior 30.9
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