May 23, 2019 / 11:36 AM / in 3 months

CANADA STOCKS-TSX futures fall on fears of endless trade war

May 23 (Reuters) - Stock futures for Canada’s main equity index fell on Thursday, tracking losses in global stocks over fears that the Sino-U.S. trade spat was fast developing into a technology cold war.

June futures on the S&P/TSX index were down 0.64% at 7:00 a.m. ET.

Wholesale trade data for March is due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX fell 99.12 points, or 0.60%, to 16,327.35 on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.86% at 7:00 a.m. ET, while S&P 500 e-mini futures were 0.87% lower and Nasdaq 100 e-mini futures were down 1.18%.

TOP STORIES

Royal Bank of Canada reported a 6% rise in adjusted quarterly profit, boosted by loan growth in its retail banking business and higher revenue in its trading business from improved market conditions.

TD Bank Group reported a 6.7% rise in adjusted second-quarter profit, as Canada’s second-biggest lender by market value benefited from strong performance in its retail business.

ANALYST RESEARCH HIGHLIGHTS

Canadian Imperial Bank of Commerce: Canaccord Genuity cuts rating to hold from buy

Lithium Americas Corp: National Bank of Canada cuts price target to C$6.25 from C$8.50

Neo Performance Materials Inc: CIBC raises price target to C$16 from C$15

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1277; +0.22%

US crude: $60.46; +1.56%

Brent crude: $69.87; +1.58%

U.S. ECONOMIC DATA DUE ON THURSDAY

0800 Build permits number for April: Prior 1.296 mln

0800 Build permits R change mm for April: Prior 0.6%

0830 Initial jobless claims : Expected 215,000; Prior 212,000

0830 Jobless claims 4-week average : Prior 225,000

0830 Continued jobless claims : Expected 1.670 mln; Prior 1.660 mln

0945 Markit Composite Flash PMI for May: Prior 53.0

0945 Markit Manufacturing PMI Flash for May: Expected 52.5; Prior 52.6

0945 Markit Services PMI Flash for May: Expected 53.2; Prior 53.0

1000 New home sales-units for April: Expected 0.675 mln; Prior 0.692 mln

1000 New home sales change mm for April: Expected -2.8%; Prior 4.5%

1100 KC Fed Manufacturing for May: Prior 12

1100 KC Fed Composite Index for May: Prior 5

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$1.35 Reporting by Yoganand KN in Bengaluru; Editing by Subhranshu Sahu

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