(Adds economic data)
July 29 (Reuters) - Futures pointed to a lower start for Canada's main stock index on Friday after data showed Canadian economy recorded its biggest monthly decline since March 2009 as wildfires in northern Alberta caused a sharp drop in oil extraction.
Monthly gross domestic product fell 0.6 percent in May, topping economists' expectations for a decline of 0.4 percent.
September futures on the S&P TSX index were down 0.12 percent at 8:45 a.m. ET.
Weakness in oil prices, with Brent prices on track for its biggest monthly loss since December 2015, also weighed on investor sentiment.
The U.S. economy grew far less than expected in the second quarter as inventories fell for the first time since 2011. The Commerce Department said on Friday gross domestic product increased at a 1.2 percent annual rate after rising by a downwardly revised 0.8 percent pace in the first quarter.
Statistics Canada also reported producer prices rose in June as the cost of energy and petroleum products increased for a fourth month in a row.
Canada's main stock index eked out a small gain on Thursday, helped by positive earnings surprises from Teck Resources Ltd and others, while disappointment over Potash Corp's dividend and outlook cut and other earnings misses weighed.
Dow Jones Industrial Average e-mini futures were down 0.26 percent at 8:45 a.m. ET, while S&P 500 e-mini futures were down 0.20 percent and Nasdaq 100 e-mini futures were up 0.07 percent.
(Morning News Call newsletter http://link.reuters.com/nex49s; The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES
Air Canada reported a better-than-expected quarterly profit on lower fuel expenses and the country's largest airline cut its cost estimate for the year.
Enbridge Inc , Canada's largest pipeline company, reported a 47.8 percent fall in quarterly profit as the company's liquids pipeline business was hit by a massive wildfire in Fort McMurray, Alberta.
Imperial Oil Ltd, Canada's No.2 integrated oil producer and refiner, reported a quarterly loss due to the impact of wildfires in Fort McMurray, Alberta.
COMMODITIES AT 7:30 a.m. ET
Gold futures : $1,340.80; +0.64 pct
US crude : $40.87; -0.66 pct
Brent crude : $42.12; -1.36 pct
LME 3-month copper : $4,884; -0.26 pct
ANALYST RESEARCH HIGHLIGHTS
Cenovus Energy Inc : UBS raises price target to C$20 from C$19; rating "neutral"
First Quantum Minerals Ltd : Paradigm raises price target to C$15.50 from C$8.50
Goldcorp Inc : Canaccord Genuity cuts price target to C$27 from C$30
U.S. ECONOMIC DATA ON FRIDAY
0830 GDP advance for Q2: Actual 1.2 pct; Revised 0.8 pct