Stock futures pointed to a lower opening for Canada’s main stock index on Friday on fears over an escalation in the trade conflict between the United States and China.
The public comment period on the United States’ proposal to impose tariffs on an additional $200 billion worth of Chinese imports passed at 0400 GMT on Friday. The tariffs could now go into effect at any moment and China is expected to retaliate if Washington launches any new measures.
Meanwhile, U.S. and Canadian negotiators pushed ahead in grinding talks to rescue the North American Free Trade Agreement on Thursday, but a few stubborn issues stood in the way of a deal, including dairy quotas.
September futures on the S&P/TSX index were down 0.28 percent at 7:05 a.m. ET.
Unemployment data for August is due at 8:30 a.m. ET, while Augusts’ purchasing activity data is due at 10:00 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX fell 36.63 points, or 0.23 percent, to 16,100.94 on Thursday.
Dow Jones Industrial Average e-mini futures were down 0.14 percent at 7:05 a.m. ET, while S&P 500 e-mini futures were down 0.14 percent and Nasdaq 100 e-mini futures were down 0.17 percent.
U.S. and Canadian negotiators pushed ahead in grinding talks to rescue the North American Free Trade Agreement on Thursday, but a few stubborn issues stood in the way of a deal, including dairy quotas, protection for Canadian media companies, and how to resolve future trade disputes.
Canada’s Lundin Mining Corp said on Thursday it does not plan to revise its hostile bid for fellow base-metal miner Nevsun Resources Ltd after it was trumped by a C$1.86 billion offer from China’s Zijin Mining Group Co Ltd.
Canada’s TELUS Health is joining forces with London-based AI Company Babylon to bring virtual medical services, including video consultations, to Canadians who do not have a family doctor or are in rural locations far from a surgery.–Reuters