April 1 (Reuters) - Canada’s main stock index futures fell on Wednesday on rising evidence that the coronavirus was sending the global economy into a deep recession.
June futures on the S&P/TSX index were down 1.93% at 7:00 a.m. ET.
The IHS Markit Canada Manufacturing Purchasing Managers’ index data is due at 09:30 a.m. ET
The Toronto Stock Exchange’s S&P/TSX composite index closed up 2.61 percent at 13,378.75 on Tuesday.
Dow Jones Industrial Average e-mini futures were down 3.41% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 3.43% and Nasdaq 100 e-mini futures were down 2.88%.
Miner Teck Resources Ltd suspended its 2020 financial forecasts and said it expected steelmaking coal production to drop to about 80-85% of normal levels in an initial two-week slowdown from March 25 due to the coronavirus outbreak.
ANALYST RESEARCH HIGHLIGHTS
Airboss of America Corp: TD Securities raises target price to C$15 from C$11
First Quantum Minerals Ltd: CIBC cuts target price to C$10 from C$18
Imperial Oil Ltd: JP Morgan raises target price to C$17 from C$15
TCP Energy Corp: Scotiabank raises target price to C$72 from C$69
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,1599.6; +0.65%
US crude: $20.6; +0.59%
Brent crude: $25.435; -3.49%
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0815 (approx.) ADP national employment for Mar: Expected -150,000; Prior 183,000
0945 Markit Manufacturing PMI Final for Mar: Prior 49.2
1000 Construction spending mm for Feb: Expected 0.5%; Prior 1.8%
1000 ISM Manufacturing PMI for Mar: Expected 45.0; Prior 50.1
1000 ISM Manufacturing Prices Paid for Mar: Expected 41.2; Prior 45.9
1000 ISM Manufacturing Employment Index for Mar: Expected 43.6; Prior 46.9
1000 ISM Manufacturing New Orders Index for Mar: Prior 49.8
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$1.43 Reporting by Priyanka Das in Bengaluru; Editing by Anil D’Silva
Our Standards: The Thomson Reuters Trust Principles.