Canada Stocks: TSX futures steady; oil drop to weigh on energy shares

Copper Mountain Mining

22/07/2022 14:02

July 22 (Reuters) - Futures for Canada's main stock index
were steady on Friday as investors digested retail sales data
for May, while a drop in oil prices was set to drag energy
shares. 
    September futures on the S&P/TSX index  SXFc1  were trading
flat at 08:30 a.m. ET.
    Canadian retail sales rose 2.2% in May from April to C$62.25
billion ($48.26 billion), on higher sales at gasoline stations,
as well as motor vehicle and parts dealers, Statistics Canada
said.  urn:newsml:reuters.com:*:nSCLMIEI3H
    Crude prices were lower due to signs of softening U.S.
demand., while copper looked set for first weekly rise in seven
as investors returned to riskier assets following a brutal
sell-off.  MET/L 
    Equities have made a comeback this week as traders pare bets
of a 100-basis-point interest rate hike by the Federal Reserve
next week, easing fears around aggressive policy tightening.
    The Toronto Stock Exchange's S&P/TSX composite index
 .GSPTSE  ended 0.2% higher on Thursday at 19,062.85 and was set
to end the week with a rise of 3.6%, which would be its biggest
in more than a year.  .TO 
    Meanwhile, the Canadian dollar  CAD=  weakened against a
sturdy greenback, while the yield on benchmark government debt
 CA10YT=RR  slipped.  urn:newsml:reuters.com:*:nL8N2Z277N
    Investors now await flash PMI data for the U.S due at 09:45
a.m. ET.
    Dow e-minis  1YMcv1  were up 65 points, or 0.2% at 08:30
a.m. ET, while S&P 500 e-minis  EScv1  were down 4.5 points, or
0.11% and Nasdaq 100 e-minis  NQcv1  were down 41 points, or
0.32%.  .N 
    
    TOP STORIES  TOP/CAN 
    Canadian home prices are dropping fast after surging during
the coronavirus pandemic, but that is offering little relief for
consumers who face sky-rocketing rents and fading buying power
as interest rates rise.  urn:newsml:reuters.com:*:nL1N2Z112G
   
    ANALYST RESEARCH HIGHLIGHTS  RCH/CA 
    Adventus Mining Corp  ADZN.V : Haywood Securities cuts to
hold from buy
    Canada Nickel Company Inc  CNC.V : Haywood Securities cuts
to hold from buy
    Copper Mountain Mining  CMMC.TO : Haywood Securities cuts to
hold from buy
    East Side Games Group Inc  EAGR.TO : H.C. Wainwright
initiates with buy rating, C$4.50 PT
    
    COMMODITIES AT 08:30 a.m. ET 
    Gold futures  GCc2 : $1,726; +0.7%  GOL/ 
    US crude  CLc1 : $95.56; -00/85%  O/R 
    Brent crude  LCOc1 : $103.22; -0.4%  O/R 
    
    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 
 ($1= C$xx)

 (Reporting by Anisha Sircar and Devik Jain in Bengaluru;
Editing by Aditya Soni)
 ((Anisha.Sircar@thomsonreuters.com;))