May 21, 2020 / 11:30 AM / 16 days ago

CANADA STOCKS-TSX futures down on coronavirus fears, U.S.-China tensions

May 21 (Reuters) - Canada’s main stock index futures fell on Thursday, weighed by concerns over the long-term impact of the novel coronavirus and simmering U.S.-China tensions.

On Wednesday, U.S. Secretary of State Mike Pompeo took fresh aim at Beijing, calling the $2 billion it has pledged to fight the pandemic as “paltry”.

June futures on the S&P/TSX index were down 0.62% at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index ended up 0.75% at 14,997.63 on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.58% at 7:00 a.m. ET. S&P 500 e-mini futures were down 0.57% and Nasdaq 100 e-mini futures were down 0.48%.

TOP STORIES

Retailer Canada Goose Holdings Inc said on Wednesday it has laid off 125 workers, about 2.5% of its global workforce, as part of steps to cope with the impact of COVID-19 on its business.

ANALYST RESEARCH HIGHLIGHTS

Aritzia Inc: RBC cuts target price to C$23 from C$27

Enerplus Corp: CIBC raises target price to C$5 from C$4.50

Paramount Resources Ltd: Credit Suisse raises target price to C$1.75 from C$1.50

Tourmaline Oil Corp: CIBC raises target price to C$17.50 from C$15

Vermilion Energy Inc: CIBC raises target price to C$7 from C$6

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,736.2; -0.91%

US crude: $34.26;+2.30%

Brent crude: $36.54; +2.21%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 2,400,000; Prior 2,981,000

0830 Jobless claims 4-week average: Prior 3,616,500

0830 Continued jobless claims: Expected 24.765 mln; Prior 22.833 mln

0830 (approx.) Philly Fed Business Index for May: Expected -41.5; Prior -56.6

0830 (approx.) Philly Fed 6M Index for May: Prior 43.00

0830 (approx.) Philly Fed Capex Index for May: Prior 12.40

0830 (approx.) Philly Fed Employment for May: Prior -46.70

0830 (approx.) Philly Fed Prices Paid for May: Prior -9.30

0830 (approx.) Philly Fed New Orders for May: Prior -70.90

0945 Markit Composite PMI flash for May: Prior 27.0

0945 Markit Manufacturing PMI flash for May: Expected 38.0; Prior 36.1

0945 Markit Services PMI flash for May: Expected 30.0; Prior 26.7

1000 Existing home sales for April: Expected 4.30 mln; Prior 5.27 mln

1000 Existing home sales percentage change for April: Expected -18.9%; Prior -8.5%

1000 Leading index change mm for April: Expected -5.5%; Prior -6.7%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

$1= C$1.39 Reporting by Priyanka Das in Bengaluru

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