TSX may open lower, U.S. economic data eyed

(Reuters) - Canadian stock index futures pointed to a lower open on Friday, as investors cautiously awaited a spate of U.S. economic data out later in the day, though gains could be capped by worries over the Federal Reserve's stimulus program.

TOP STORIES

* Inflation in the euro zone rose from a three-year low in May, but remained low enough for the European Central Bank to act to boost an economy which is shedding jobs at an increasing rate.

* Japan's cabinet rubber-stamped a set of measures to boost economic growth that so far have failed to impress markets and made Prime Minister Shinzo Abe promise to take more steps after next month's upper house elections.

* Ocwen Financial Corp said it would buy mortgage servicing rights and related advances from OneWest Bank for $2.53 billion, the latest in a string of acquisitions that have fueled the company's explosive growth and nearly tripled its shares over the past year.

* Europe's newest jetliner, the Airbus A350, successfully began its maiden flight, stepping up a battle with arch-rival Boeing for sales of a new generation of sleek, lightweight passenger planes.

* Restoration Hardware reported first-quarter results that beat analysts' estimates, helped by strong growth in sales, particularly in its furniture business.

MARKET SNAPSHOT

* Canada stock futures traded down 0.33 percent

* U.S. stock futures,, were down around 0.06 percent to 0.01 percent <.n/>

* European shares <.fteu3>, <.stoxx> were up <.eu/>

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index <.trjcrbtr>: 286.0464; rose 0.08 percent

* Gold futures: $1,380.4; rose 0.2 percent

* US crude: $97.09; rose 0.41 percent

* Brent crude: $105.45; rose 0.48 percent

* LME 3-month copper: $7,078; rose 0.4 percent

ANALYSTS' RECOMMENDATIONS

Following is a summary of research actions on Canadian companies reported by Reuters.

* Agrium Inc : National Bank Financial cuts price target to C$84.50 from C$87 on valuation, says DuPont's decision to lower earnings guidance following planting delays on crop input demand will have negative implications for the company

* Transat AT Inc : CIBC raises price target C$6.50 from C$5.25, says the company is guiding towards summer results being better year-over-year and is having good early success in its product differentiation roll-out and its cost-cutting strategy

ON THE CALENDAR

* Major Canadian economic data includes manufacturing sales

* Major U.S. events and data includes producer prices, industrial and manufacturing output, Reuters and University of Michigan sentiment and ECRI weekly index data

(Reporting by Samarendra Sahoo in Bangalore; Editing by Jeffrey Hodgson)

Source: http://news.yahoo.com/tsx-may-open-lower-u-economic-data-eyed-123430514.html

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