August 30, 2018 / 11:39 AM / 24 days ago

CANADA STOCKS-Futures fall on China trade worries

Aug 29 (Reuters) - Stock futures pointed to a lower opening for Canada’s main equity index on Thursday, as concerns about uncertainty over an escalating trade war between China and the United States eclipsed optimism around the U.S.-Mexico trade deal.

Talks between Canada and the United States are intensifying as the two countries push to hammer out a deal on a revamped North American Free Trade Agreement by a Friday deadline, with both sides upbeat about progress made so far.

September futures on the S&P/TSX index were down 0.29 percent at 7:20 a.m. ET.

GDP data is due at 08:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX closed higher on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.29 percent at 7:20 a.m. ET, while S&P 500 e-mini futures were down 0.19 percent and Nasdaq 100 e-mini futures were down 0.21 percent.

TOP STORIES

Toronto-Dominion Bank reported third-quarter results which topped market expectations, helped by a sharp rise in earnings from the United States.

Canadian gold and silver mining company Tahoe Resources Inc said on Wednesday that it believed there was an attempt to illegally extract gold at its La Arena mine in Peru.

ANALYST RESEARCH HIGHLIGHTS

Journey Energy Inc: Eight Capital raises rating to buy from neutral and price target to C$3.15 from C$2.25

National Bank of Canada: Barclays raises target price to C$69 from C$67

Thomson Reuters Corp: Berenberg cuts target price to C$44 from C$45

COMMODITIES AT 7:20 a.m. ET

Gold futures: $1210; fell 0.12 percent

US crude: $69.88; rose 0.53 percent

Brent crude: $77.62; rose 0.62 percent

LME 3-month copper: $6064; fell 0.36 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Personal consumption real mm for Jul: Prior 0.3 pct

0830 Personal income mm for Jul: Expected 0.3 pct; Prior 0.4 pct

0830 Consumption, adjusted mm for Jul: Expected 0.4 pct; Prior 0.4 pct

0830 Core PCE price index mm for Jul: Expected 0.2 pct; Prior 0.1 pct

0830 Core PCE price index yy for Jul: Expected 2.0 pct; Prior 1.9 pct

0830 PCE price index mm for Jul: Prior 0.1 pct

0830 PCE price index yy for Jul: Prior 2.2 pct

0830 Initial jobless claims for Aug: Expected 214,000; Prior 210,000

0830 Jobless claims 4-week average for Aug: Prior 213,750

0830 Continued jobless claims for Aug: Expected 1.725 mln; Prior 1.727 mln

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$1.29) (Reporting by Sourav Bose in Bengaluru; Editing by Shounak Dasgupta)

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