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Stocks to Open Lower on U.S. Turmoi

May 18, 2017 ( via COMTEX) --

Futures on Canada's biggest stock market dipped on Thursday, a day after the index posted its lowest close in nearly five months, as uncertainty over U.S. President Donald Trump's political future weighed down global stocks.

The S&P/TSX Composite Index was bruised 269.65 points, or 1.7%, to close a turbulent session at 15,273.68. June futures slid 0.5% Thursday

The Canadian dollar subsided 0.3 cents to 73.31 cents U.S. early Thursday.

Home Capital Group Inc named a new director and said one of its initial investors would step down from the board.

U.S. government officials are set to begin investigating Boeing's unfair trade claims against Bombardier, a two-track action that could lead to U.S. duties on Bombardier's new jetliner and also pits Boeing against Delta Air Lines Inc.

TD Securities cut the target price on Aimia Inc. to $3.75 from $9.50

Citigroup raised the rating on Bank of Montreal to buy from neutral

Economically speaking, Statistics Canada reported those Canadians drawing regular employment insurance benefits numbered 551,100 in March, down 2,900, or 0.5%, from February.

Moreover, the agency told us, foreign investment in Canadian securities amounted to $15.1 billion in March, largely in Canadian corporate instruments. At the same time, Canadian investors boosted their foreign holdings to $15.4 billion, led by acquisitions of U.S. equities.


The TSX Venture Exchange gave back 0.4 points Wednesday to 807.87


U.S. stock index futures pointed to a lower open Thursday on concerns about President Donald Trump's future and his ability to deliver on his pro-growth agenda.

Ahead of the opening bell, futures for the Dow Jones Industrials receded 55 points, or 0.3%, to 20,550. Futures for the S&P 500 faded 3.75 points, or 0.2%, to 2,353.75. NASDAQ futures dropped 2.75 points, or 0.1%, to 5,576.

The Dow lost 370 points on Wednesday recording its worst day since September last year.

Among companies reporting earnings today, Gap, and Autodesk are all due to report after the market close.

On matters economic, Thursday will see the release of jobless claims and the Philly Fed Survey this morning.

European markets shed some strength late morning, while the Nikkei 25 index in Japan fell 1.3%. In Shanghai, the CSI 300 lost 0.4%.

Oil prices slipped 58 cents to $48.49 U.S. per barrel.

Gold prices gained 50 cents to $1,259.20 U.S. an ounce.

********************************************************************** As of Sunday, 05-14-2017 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated a DOWNTREND on 05-08-2012 for CRM @ $146.47. For more inf

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