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Futures and Commodity Market News

Futures Again to Rise with Oil Prices

Oct 13, 2017 (Baystreet.ca via COMTEX) --

Stock futures pointed to a higher opening for stocks in Canada's largest centre on Friday as oil prices edged up, after a strong Chinese oil import data and turmoil in the Middle East boosted bulls in a market that is re-balancing after years of excess.

The S&P/TSX Composite Index lost 53.32 points to close Thursday at 15,747.08

The Canadian dollar faded 0.15 cents at 80.03 cents U.S. Friday morning.

December futures climbed 0.2% lower Friday morning.

The leaders of Mexico and Canada pledged on Thursday to work toward a renegotiation of the North American Free Trade Agreement even as talks taking place in the United States turned sour due to hard-line U.S. demands.

On much the same note, the union leading a month-long strike at a General Motors Co auto plant in Ontario is refusing to make concessions after GM threatened to move production to Mexico, a move that could cost thousands of Canadian jobs.

CIBC raised the price target on Cervus Equipment to $17 from $15

CIBC raised the rating on Pretium Resources to outperform

ON BAYSTREET

The TSX Venture Exchange shaved off 0.25 points to finish Thursday at 791.07.

ON WALLSTREET

U.S. stock index futures pointed to a slightly higher open Friday, as investors turned their attention to a number of Fed speeches and corporate earnings reports.

Futures for the Dow Jones Industrials jumped 32 points, or 0.1%, to 22,830.

S&P 500 futures gained three points, or 0.1%, to 2,552.50, while futures on the NASDAQ Composite index hiked 12 points, or 0.2%, to 6,086.75.

Bank of America and PNC Financial Services Group both posted earnings and revenue that beat the Street, but Wells Fargo posted lighter-than-expected revenue.

Following the latest minutes publication of the Federal Open Market Committee's September meeting, a whole slew of officials from the U.S. central bank are set to deliver remarks Friday.

Their remarks will be topped off by Fed Chair Janet Yellen, who will join other leading central bankers to deliver remarks on the economy and monetary policy at the 32nd Annual G30 International Banking Seminar in Washington on Sunday - a conversation that should keep investors talking Monday.

Looking to data, the consumer price index (CPI) data and retail sales are set to be released early this morning. Later on in the day, businesses inventories and consumer sentiment are set to be published at 10 a.m. ET.

Overseas, European stocks were posting minor gains approaching noon on the continent Monday, while Japan's Nikkei 225 flew 1%, while in Hong Kong, the Hang Seng Index eked up 0.1%.

Oil prices improved 99 cents to $51.59 U.S. per barrel.

Gold prices slipped $1.70 to $1,294.80 U.S. an ounce.

********************************************************************** As of Monday, 10-09-2017 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated a DOWNTREND on 05-17-2012 for PNC @ $62.20. As of Monday, 1

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