May 1 (Reuters) – Canada’s main stock index futures fell on Friday as sentiment was weighed by U.S. President Donald Trump’s threat to slap new tariffs on China over the novel coronavirus crisis and lower oil prices.
Trump said on Thursday his hard-fought trade deal with China was now of secondary importance to the pandemic and threatened new tariffs on Beijing, as his administration crafted retaliatory measures over the outbreak.
June futures on the S&P/TSX index were down 1.45% at 7:05 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index fell 2.94% to 14,780.74 on Thursday.
Markit manufacturing PMI data for Canada is due at 9:30 a.m. ET
Dow Jones Industrial Average e-mini futures were down 1.9% at 7:05 a.m. ET. S&P 500 e-mini futures fell 2.03% and Nasdaq 100 e-mini futures dropped 2.53%.
Restaurant Brands International Inc posted an over 26% jump in first-quarter comparable sales at Popeyes on Friday, but said that sales at its breakfast and coffee chain Tim Hortons were hit due to coronavirus-led restrictions.
Barrick Gold Corp said on Friday it welcomed a court ruling ordering the Papua New Guinea (PNG) government to negotiate over a lease extension for the Porgera gold mine.
ANALYST RESEARCH HIGHLIGHTS
Altagas Ltd: RBC raises target price to C$19 from C$13
Canadian Tire Corporation Ltd: CIBC cuts target price to C$130 from C$134
Great-West Lifeco Inc: Canaccord Genuity cuts target price to C$24 from C$35
COMMODITIES AT 7:05 a.m. ET
Gold futures: $1687; -0.42%
US crude: $18.8; -0.21%
Brent crude: $26.27; -0.79%
U.S. ECONOMIC DATA DUE ON FRIDAY
0945 Markit Manufacturing PMI Final for Apr: Prior 36.9
1000 Construction spending mm for Mar: Expected -3.5%; Prior -1.3%
1000 ISM Manufacturing PMI for Apr: Expected 36.9; Prior 49.1
1000 ISM Manufacturing Prices Paid for Apr: Expected 35.0; Prior 37.4
1000 ISM Manufacturing Employment Index for Apr: Expected 37.0; Prior 43.8
1000 ISM Manufacturing New Orders Index for Apr: Prior 42.2
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
Source: Read Full Article