August 2, 2019 / 11:50 AM / 21 days ago

CANADA STOCKS-TSX futures set to open lower on fresh Trump tariff threat

August 2 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Friday after U.S. President Donald Trump rattled global markets with fresh tariff threats on China.

China said it would not be blackmailed and warned of retaliation after Trump vowed to slap a 10% tariff on $300 billion worth of Chinese imports from next month, sharply escalating a trade row between the world’s biggest economies.

September futures on the S&P/TSX index were down 0.32% at 7:00 a.m. ET.

Canada’s trade data is due at 8:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX fell 29.52 points, or 0.18%, on Thursday to 16,377.04.

Canada’s markets are closed on Aug.5 for Civic Holiday.

Dow Jones Industrial Average e-mini futures were down 0.23% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.35% and Nasdaq 100 e-mini futures were down 0.63%.

TOP STORIES

Restaurant Brands International Inc’s quarterly profit beat analysts’ expectations on Friday, as more diners visited its Burger King outlets, and investments made in international expansion paid off.

The Ontario Securities Commission has opened an investigation into CannTrust Holdings Inc, the cannabis producer said on Thursday, less than a month after the health regulator found unlicensed pot cultivation by the company.

Canadian miner Barrick Gold Corp said on Thursday it conveyed the need for a “partnership approach” for the future of the Porgera gold mine in Papua New Guinea, as the Pacific nation wants more benefits from the mine, for which Barrick is seeking a lease extension.

Canada’s Brookfield Asset Management is in talks to acquire a 30% stake in Brazilian sanitation company Brookfield Ambiental from the workers severance fund FGTS, two people with knowledge of the matter said.

ANALYST RESEARCH HIGHLIGHTS

Air Canada: JPMorgan raises price target to C$50 from C$42

Bombardier Inc: CIBC cuts price target to C$3.25 from C$3.75

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1441; +1.18 percent

US crude: $55.29; +2.48 percent

Brent crude: $62.19; +2.79 percent

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Non-farm payrolls for Jul: Expected 164,000; Prior 224,000

0830 Private payrolls for Jul: Expected 160,000; Prior 191,000

0830 Manufacturing payrolls for Jul: Expected 5,000; Prior 17,000

0830 Government payrolls for Jul: Prior 33,000

0830 Unemployment rate for Jul: Expected 3.7%; Prior 3.7%

0830 Average earnings mm for Jul: Expected 0.2%; Prior 0.2%

0830 Average earnings yy for Jul: Expected 3.1%; Prior 3.1%

0830 Average workweek hours for Jul: Expected 34.4 hrs; Prior 34.4 hrs

0830 Labor force participation for Jul: Prior 62.9%

0830 U6 underemployment for Jul: Prior 7.2%

0830 International trade for Jun: Expected -$54.6 bln; Prior -$55.5 bln

0830 Goods trade balance (Revised) for Jun: Prior -$74.17 bln

0945 ISM-New York Index for Jul: Prior 882.1

0945 ISM New York Business Conditions for Jul: Prior 50.0

1000 Durables excluding defense, (Revised) mm for Jun: Prior 3.1%

1000 Durable goods, (Revised) mm for Jun: Prior 2.0%

1000 Factory orders mm for Jun: Expected 0.8%; Prior -0.7%

1000 Durables excluding transport (Revised) mm for Jun: Prior 1.2%

1000 Nondefense capital goods excluding aircraft (Revised) mm for Jun: Prior 1.9%

1000 Factory orders excluding transport mm for Jun: Prior 0.1%

1000 U Mich Sentiment Final for Jul: Expected 98.5; Prior 98.4

1000 U Mich Conditions Final for Jul: Expected 111.6; Prior 111.1

1000 U Mich Expectations Final for Jul: Expected 90.3; Prior 90.1

1000 (approx) U Mich 1 year inflation final for Jul: Prior 2.6%

1000 (approx) U Mich 5-year inflation final for Jul Prior 2.6%

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$1.32) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Arun Koyyur)

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