June 13 (Reuters) - Stock futures pointed to a higher opening for Canada's main stock index on Tuesday as oil rose on Saudi Arabia's pledge to make sizable supply cuts in July.
The world's top oil exporter plans to curb volumes of crude to some Asian buyers and deepen cuts in allocation to the United States, as part of an OPEC-led agreement to prop up oil prices in an oversupplied market. in focus is the two-day Federal Reserve meeting in Washington, where the prospect of the United States raising interest rates and shrinking its mammoth balance sheet reverberated across markets.
June futures on the S&P TSX index SXFc1 were up 0.17 percent at 7:15 a.m. ET.
Canada's main stock index ended lower on Monday, weighed down by losses from heavyweight banking stocks after two days of strong gains, and as the country's technology sector tracked the larger U.S. tech group down. Jones Industrial Average e-mini futures 1YMc1 were up 0.10 percent at 7:15 a.m. ET. S&P 500 e-mini futures ESc1 were up 0.16 percent and Nasdaq 100 e-mini futures NQc1 were up 0.19 percent. .N
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TOP STORIES TOP/CAN
Hudson's Bay Co HBC.TO could face investor pressure to monetize a portion of its $10 billion-plus global real estate portfolio at the Canadian retailer's annual shareholder meeting on Tuesday amid skepticism that last week's restructuring plans aimed at saving $350 million will be insufficient to battle a tough real estate market. Canadian dollar climbed in an otherwise quiet trading day, hitting its highest level in nearly two months after comments from Canada's central bank raised the prospect that interest rates could rise as soon as this year. miners are missing after a small silver and gold mine owned by Mandalay Resources Corp MND.TO was flooded, the government said on Monday, adding that authorities are working with technical experts to see if the men have survived and can be rescued. RESEARCH HIGHLIGHTS RCH/CA
Medical Facilities Corp DR.TO : National Bank of Canada cuts target price to C$16.50 from C$18
Yangarra Resources Ltd YGR.TO : PI Financial raises target price to C$4.50 from C$3.75
Uni Select Inc UNS.TO : BMO raises target price to C$35 from C$34
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,263.3; -0.31 pct GOL/
US crude CLc1 : $46.21; +0.21 pct O/R
Brent crude LCOc1 : $48.43; +0.27 pct O/R
LME 3-month copper CMCU3 : $5,708.50; -1.1 pct MET/L
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 PPI final demand yy for May: Expected 2.3 pct; Prior 2.5 pct
0830 PPI final demand mm for May: Expected 0.0 pct; Prior 0.5 pct
0830 PPI ex food/energy yy for May: Expected 2.0 pct; Prior 1.9 pct
0830 PPI ex food/energy mm for May: Expected 0.2 pct; Prior 0.4 pct
0830 PPI ex food/energy/transport yy for May: Prior 2.1 pct
0830 PPI ex food/energy/transport mm for May: Prior 0.7 pct
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Canadian markets directory CANADA ($1= C$1.33)