Canada Stocks: Futures down ahead of crucial U.S.-China trade talks

Park Lawn

09/05/2019 12:28

May 9 (Reuters) - Futures for Canada's main stock index
dipped on Thursday ahead of crucial trade talks between the
United States and China, with investors waiting to see if the
world's largest economies can avoid further worsening of the
trade war.
    Chinese Vice Premier Liu He was heading to Washington for
two days of talks, but Trump's insistence that China "broke the
deal" and Beijing's response that it would retaliate against
tariffs ratcheted up the stakes.  urn:newsml:reuters.com:*:nL2N22K1LF
    June futures on the S&P/TSX index  SXFc1  were down 0.23
percent at 7:00 a.m. ET.
    Canada's trade balance data for March is due at 8:30 a.m.
ET.
    Statistics Canada is likely to report the country's trade
deficit narrowed to C$2.45 billion in March from C$2.9 billion
in February.  urn:newsml:reuters.com:*:nL3N22K4G2
    The Toronto Stock Exchange's S&P/TSX  .GSPTSE  rose 39.65
points, or 0.24 percent, to 16,397.40 on Wednesday.  urn:newsml:reuters.com:*:nL5N22K8FI
    Dow Jones Industrial Average e-mini futures  1YMc1  were
down 0.61 percent at 7:00 a.m. ET, while S&P 500 e-mini futures
 ESc1  were down 0.62 percent and Nasdaq 100 e-mini futures
 NQc1  were down 0.77 percent.  .N 
    
     
    TOP STORIES  TOP/CAN 
    Canadian Natural Resources Ltd  CNQ.TO  reported a
better-than-expected first-quarter profit, boosted by higher
prices for its crude on the back of Alberta's output
curtailments.  urn:newsml:reuters.com:*:nL3N22L333
    Auto parts maker Magna International Inc  MG.TO  lowered its
2019 profit forecast, as it expects higher costs on certain
programs and lower earnings from a transmission joint venture in
China.  urn:newsml:reuters.com:*:nL3N22L302 
    Diversified retailer Canadian Tire Corp Ltd  CTCa.TO 
reported a 1.7 percent drop in profit on higher interest expense
and lease liabilities.  urn:newsml:reuters.com:*:nL3N22L37E
    
    
    ANALYST RESEARCH HIGHLIGHTS  RCH/CA 
    Ivanhoe Mines Ltd  IVN.TO : CIBC raises target price to
C$3.40 from C$3.30
    Park Lawn Corp  PLC.TO : CIBC raises target price to C$32
from C$30     
    Pollard Banknote Ltd.  PBL.TO : Canaccord Genuity raises
price target to C$25.00 from C$24.50 

    
    COMMODITIES AT 7:00 a.m. ET  COM/WRAP 
    Gold futures  GCc2 : $1284; +0.2 percent  GOL/ 
    US crude  CLc1 : $61.91; -0.34 percent  O/R 
    Brent crude  LCOc1 : $70.34; -0.04 percent  O/R 

    
    U.S. ECONOMIC DATA DUE ON THURSDAY
    0830 International trade for March: Expected -$50.2 bln;
Prior -$49.4 bln
    0830 Goods trade balance (R) for March: Prior -$71.45 bln
    0830 Initial jobless claims: Expected 220,000; Prior 230,000
    0830 Jobless claims 4-week average: Prior 212,500
    0830 Continued jobless claims: Expected 1.670 mln; Prior
1.671 mln
    0830 PPI final demand yy for April: Expected 2.3 pct; Prior
2.2 pct
    0830 PPI final demand mm for April: Expected 0.2 pct; Prior
0.6 pct
    0830 PPI exfood/energy yy for April: Expected 2.5 pct; Prior
2.4 pct
    0830 PPI exfood/energy mm for April: Expected 0.2 pct; Prior
0.3 pct
    0830 PPI ex food/energy/transport yy for April: Prior 2.0
pct
    0830 PPI ex food/energy/transport mm for April: Prior 0.0
pct
    1000 Wholesale inventory, R mm for March: Expected 0.0 pct;
Prior 0.0 pct
    1000 Wholesale sales mm for March: Expected 0.2 pct; Prior
0.3 pct

    
    FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
    TSX market report  .TO 
    Canadian dollar and bonds report  CAD/   CA/ 
    Reuters global stocks poll for Canada  EQUITYPOLL1 
 EPOLL/CA 
    Canadian markets directory  CANADA 

 ($1=C$1.35)

 (Reporting by Pathikrit Bandyopadhyay in Bengaluru; Editing by
Shounak Dasgupta)
 ((pathikrit.bandyopadhyay@thomsonreuters.com))