TSX futures down as coronavirus cases spike

(Reuters) – Futures for Canada’s main stock index fell on Friday, tracking Wall Street, as rising global coronavirus cases and worries over fading U.S. stimulus dented sentiment.

In a surprise move on Thursday, U.S. Treasury Secretary Steven Mnuchin said key COVID-19 pandemic lending programs at the Federal Reserve to support businesses and local governments would expire by the end of the year.

December futures on the S&P/TSX index were down 0.12% at 7:00 a.m. ET.

Data on Canada’s September retail sales is due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index <.gsptse> ended 0.1% higher at 16,909.8 on Thursday.

Dow Jones Industrial Average e-mini futures were down 0.1% at 7:00 a.m. ET and S&P 500 e-mini futures dipped 0.01%. Nasdaq 100 e-mini futures were up 0.16%.

ANALYST RESEARCH HIGHLIGHTS

Cogeco Communications Inc : CIBC raises to “outperform” from “neutral”

Imperial Oil Ltd : National Bank of Canada raises target price to C$22 from C$21

Norbord Inc : Credit Suisse raises to “neutral” from “underperform”

(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)