August 31, 2018 / 11:33 AM / 24 days ago

CANADA STOCKS-Futures dip on renewed worries over trade dispute

Aug 31 (Reuters) - Futures for Canada’s main stock index fell on Friday, ahead of a deadline for the NAFTA trade deal, as fresh threats from U.S. President Donald Trump on a trade war with Beijing dulled investor sentiment.

Trump is prepared to quickly ramp up a trade war with China and has told aides he is ready to impose tariffs on $200 billion worth of Chinese imports as soon as a public comment period on the plan ends next week, Bloomberg News reported on Thursday.

September futures on the S&P/TSX index were down 0.16 percent at 7:15 a.m. ET.

Data on producer prices for July is due at 08:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX closed down on Thursday.

Dow Jones Industrial Average e-mini futures were down 0.14 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.12 percent and Nasdaq 100 e-mini futures were down 0.03 percent.

TOP STORIES

Canada and the U.S. will make a final push to iron out differences on a pact to modernize the North American Free Trade Agreement (NAFTA) on Friday, with Mexico on standby to return to talks, aimed at ending a year of hard-fought negotiations.

ANALYST RESEARCH HIGHLIGHTS

BRP Inc: CIBC raises target price to C$79 from C$69

Hudbay Minerals Inc: CIBC cuts target price to C$10 from C$12

Rogers Communications Inc: Morgan Stanley raises target to C$69 from C$65

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1212; rose 0.58 percent

US crude: $69.81; fell 0.63 percent

Brent crude: $77.44; fell 0.42 percent

LME 3-month copper: $6058; fell 0.13 percent

U.S. ECONOMIC DATA DUE ON FRIDAY

0945 Chicago PMI for Aug: Expected 63; Prior 65.5

1000 U Mich Sentiment Final for Aug: Expected 95.5; Prior 95.3

1000 U Mich Conditions Final for Aug: Expected 108.1; Prior 107.8

1000 U Mich Expectations Final for Aug: Expected 87.5; Prior 87.3

1000 U Mich 1 year inflation final for Aug: Prior 2.9 pct

1000 U Mich 5-year inflation final for Aug: Prior 2.5 pct

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$1.30) (Reporting by Sourav Bose in Bengaluru; Editing by Shounak Dasgupta)

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