October 31, 2019 / 11:30 AM / 21 days ago

CANADA STOCKS-TSX futures down on U.S.-China trade worries

Oct 31 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Thursday after fresh trade tensions between the United States and China surfaced.

Chinese officials have doubts about whether it is possible to reach a comprehensive long-term trade deal with Washington and U.S. President Donald Trump, Bloomberg reported, citing sources.

December futures on the S&P/TSX index were down 0.33% at 7:00 a.m. ET.

Canada's GDP data is due at 8:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index closed 0.51% higher at 16,501.43 on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.26% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.28% and Nasdaq 100 e-mini futures were down 0.17%.

TOP STORIES

Canadian plane and train maker Bombardier Inc used more cash than analysts had expected in the third quarter as it ramped up production of its flagship Global 7500 business jet and pushed back some train deliveries.

Canadian oil producer Cenovus Energy Inc reported a quarterly profit compared to a loss a year earlier, as it benefited from higher crude prices because of government-imposed production curbs and a tight leash on costs.

Thomson Reuters Corp , parent of the Reuters News agency, reported higher-than-expected quarterly operating profit on Thursday and affirmed its 2019 and 2020 estimates.

Suncor Energy Inc reported third-quarter profit on Wednesday, just shy of estimates as weak business environment and higher operating and transportation expenses dented the second-largest Canadian oil and gas producer's margins.

ANALYST RESEARCH HIGHLIGHTS

Genworth MI Canada Inc: CIBC cuts target price to C$56 from C$57

Maple Leaf Foods Inc: Scotiabank cuts target price to C$35 from C$42.50

Quebecor Inc: Scotiabank raises target price to C$37 from C$36

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1508.8; +0.81%

US crude: $54.92; -0.25%

Brent crude: $60.71; +0.16%

U.S. ECONOMIC DATA DUE ON THURSDAY

0730 Challenger layoffs for Oct: Prior 41,557

0830 Personal income mm for Sep: Expected 0.3%; Prior 0.4%

0830 Personal consumption real mm for Sep: Prior 0.1%

0830 Consumption, adjusted mm for Sep: Expected 0.2%; Prior 0.1%

0830 Core PCE price index mm for Sep: Expected 0.1%; Prior 0.1%

0830 Core PCE price index yy for Sep: Expected 1.7%; Prior 1.8%

0830 PCE price index mm for Sep: Prior 0.0%

0830 PCE price index yy for Sep: Prior 1.4%

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

0830 Jobless claims 4-week average : Prior 215,000

0830 Continued jobless claims : Expected 1.680 mln; Prior 1.682 mln

0830 Employment wages QQ for Q3: Prior 0.7%

0830 Employment benefits QQ for Q3: Prior 0.5%

0830 Employment costs for Q3: Expected 0.7%; Prior 0.6%

0945(approx.) Chicago PMI for Oct: Expected 48.0; Prior 47.1

1200(approx.) Dallas fed PCE for Sep: Prior 1.1%

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$1.32) (Reporting by Nayyar Rasheed in Bengaluru; Editing by Arun Koyyur)

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