(Refiles for typo in second paragraph)
January 29 (Reuters) - Futures in Canada's main stock index rose on Wednesday, as oil prices advanced on talks that OPEC could extend output curbs to counter a potential drop in demand due to China's coronavirus outbreak.
OPEC sources said the oil cartel wants to extend production cuts until at least June from March and may deepen the reductions, should demand in China drop significantly. Separately, data showed a decline in U.S. crude oil inventories. futures on the S&P/TSX index SXFc1 were up 0.23% at 7:00 a.m. ET.
The Toronto Stock Exchange's TSX index rose 0.33% to 17,500.88 on Tuesday. Jones Industrial Average e-mini futures 1YMc1 were up 0.41% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.40% and Nasdaq 100 e-mini futures NQc1 were up 0.55%. .N
TOP STORIES TOP/CAN
Canadian National Railway Co CNR.TO said on Tuesday it sees crude shipments as a growth driver in the year for the country's largest railway operator, which reported a better-than-expected fourth-quarter profit. Brands International Inc's QSR.TO Tim Hortons said on Tuesday it has removed Beyond Meat Inc's BYND.O products from its coffee and donut shops in the Canadian provinces of Ontario and British Columbia. Canada AC.TO said on Tuesday it was cancelling select flights to China to better match capacity with expected demand as the spread of the new coronavirus rattles travellers. proteins maker Burcon NutraScience BU.TO said on Tuesday it had secured C$10 million ($7.6 million) through a bought deal, just days after food giant Nestle SA NESN.S teamed up with the Canadian company. RESEARCH HIGHLIGHTS RCH/CA
Altagas Ltd ALA.TO : National Bank of Canada raises rating to outperform from sector perform
Gibson Energy GEI.TO : National Bank of Canada cuts rating to sector perform from outperform
Superior Plus SPB.TO : National Bank of Canada cuts rating to sector perform from outperform
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2 : $1570.7; +0.06% GOL/
US crude CLc1 : $53.86; +0.71% O/R
Brent crude LCOc1 : $59.99; +0.81% O/R
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Advance goods trade balance for Dec: Prior -$62.99 bln
0830 Wholesale inventories advance for Dec: Prior -0.1%
0830 Retail inventories ex-auto advance for Dec: Prior -0.2%
1000 Pending Homes Index for Dec: Prior 108.5
1000 Pending sales change mm for Dec: Expected 0.5%; Prior 1.2%
1400 Fed funds target rate for 29 Jan: Expected 1.5-1.75%; Prior 1.5-1.75%
1400 Fed int on excess reserves for 29 Jan: Prior 1.55%
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1 EPOLL/CA
Canadian markets directory CANADA
($1 = C$1.31)