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Futures and Commodity Market News

Lower Open in Store

Nov 14, 2017 (Baystreet.ca via COMTEX) --

Canada's main stock index was poised for a lower open on Tuesday after oil prices fell for a third day, hit by rising U.S. output.

The S&P/TSX Composite Index retreated 13 points to close Monday at 16,026.26

The Canadian dollar surrendered 0.15 cents at 78.63 cents U.S. Tuesday morning.

December futures waned 0.9% Tuesday.

Brookfield Property Partners LP on Monday made an unsolicited bid to buy the 66% stake in mall owner GGP Inc it does not already own for $14.8 billion.

Reports say Bombardier is in advanced talks with EgyptAir over a potential $1.1 billion order for CSeries jets.

Cenovus Energy has reached a deal to sell its Weyburn oil facility for $940 million, completing its main divesture plans.

Credit Suisse cut the price target ARC Resources to $21.00 from $23.00

CIBC raised the price target on Cenovus Energy to $16 from $14.50

ON BAYSTREET

The TSX Venture Exchange regained 6.27 points Monday to 802.75

ON WALLSTREET

U.S. stock index futures pointed to a relatively weak open Tuesday, as investors continued to pore over corporate earnings, while keeping an eye on news surrounding tax in the U.S.

Futures for the Dow Jones Industrials gave back 42 points, or 0.2%, to 23,364

S&P 500 futures doffed six points, or 0.2%, to 2,576, while futures on the NASDAQ Composite index lost nine points, or 0.1%, to 6,303

Home Depot, a Dow component, posted better-than-expected quarterly results across the board. Its stock briefly went up more than 2% before the bell before trading flat.

TJX Companies and Dick's Sporting Goods are also due to report earnings before the bell.

On the data front, the NFIB's small business optimism index rose to 103.8 in October from 103.0 in September. Producer price index (PPI) data is due out this morning.

Overseas, European stocks were were under slight pressure approaching noon on the continent, while Japan's Nikkei 225 was one point lower, and in Hong Kong, the Hang Seng Index shed 0.7%.

Oil prices dropped 30 cents to $56.46 U.S. per barrel.

Gold prices fell $3.30 to $1,275.60 U.S. an ounce.

********************************************************************** As of Friday, 11-10-2017 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated an UPTREND on 06-07-2012 for CVE @ $32.45. As of Friday, 11

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