Aug 1 (Reuters) - Futures for Canada's main stock index fell on Wednesday on lower oil prices and intensifying fears of an imminent escalation in the U.S.-China tariff war.
China said on Wednesday that "blackmail" wouldn't work and that it would hit back if the United States takes further steps hindering trade, as the Trump administration considers slapping a 25 percent tariff on $200 billion worth of Chinese goods. futures on the S&P/TSX index SXFc1 were down 25 percent at 7:15 a.m. ET.
Seasonally adjusted Markit manufacturing PMI data is due at 9:30 a.m. ET
Canada's main stock index .GSPTSE closed up 85.87 points, or 0.53 percent, at 16,431.34 on Tuesday, as gains in the materials sector countered losses in the energy sector following a drop in oil prices. Jones Industrial Average e-mini futures 1YMc1 were down 0.16 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.06 percent and Nasdaq 100 e-mini futures NQc1 were up 0.17 percent. .N
TOP STORIES TOP/CAN
Canadian oil and gas producer Encana Corp ECA.TO on Wednesday posted a 10 percent rise in adjusted operating profit, helped by an increase in production and higher selling prices for crude. investment group Fairfax FFH.TO could become Irish insurer FBD's FBD.I second largest shareholder by September by converting a bond into equity, FBD Chief Executive Fiona Muldoon said on Wednesday. International Corp S.TO said on Tuesday that recent weakness in the price of cobalt, a key material in rechargeable batteries, is expected to be temporary as demand continues to grow from the electric vehicle market. RESEARCH HIGHLIGHTS RCH/CA
George Weston Ltd WN.TO : CIBC raises price target to C$119 from C$115
Intact Financial Corp IFC.TO : Desjardins raises rating to "hold" from "sell", target price to C$102 from C$100
Jamieson Wellness Inc JWEL.TO : RBC raises target price to C$27 from C$26
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCcv1 : $1,222.2; -0.12 pct GOL/
U.S. crude CLc1 : $67.99; -1.12 pct O/R
Brent crude LCOc1 : $73.27; -1.27 pct O/R
LME 3-month copper CMCU3 : $6,169; -2.08 pct MET/L
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0815 ADP national employment for Jul: Expected 185,000; Prior 177,000
0945 Markit Manufacturing PMI Final for Jul: Prior 55.5
0830 Construction spending mm for Jun: Expected 0.3 pct; Prior 0.4 pct
1000 ISM Manufacturing PMI for Jul: Expected 59.5; Prior 60.2
1000 ISM Manufacturing Prices Paid for Jul: Expected 75.8; Prior 76.8
1000 ISM Manufacturing Employment Index for Jul: Expected 56.0; Prior 56
1000 ISM Manufacturing New Orders Index for Jul: Prior 63.5
1530 Domestic car sales for Jul: Expected 3.90 mln; Prior 3.97 mln
1530 Total vehicle sales for Jul: Expected 17.10 mln; Prior 17.47 mln
1530 Domestic truck sales for Jul: Expected 9.25 mln; Prior 9.61 mln
1530 All car sales for Jul: Prior 5.46 mln
1530 All truck sales for Jul: Prior 12.01 mln
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1 EPOLL/CA
Canadian markets directory CANADA ($1= C$1.30)