May 6 (Reuters) - Futures for Canada’s main stock index fell on Monday after U.S. President Donald Trump threatened to raise tariffs on China, triggering a global rout in risky assets.
In a surprise twist on Sunday, Trump said he would hike U.S. tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon, signaling a major shift.
June futures on the S&P/TSX index were down 0.95 percent at 7:00 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX rose 83.55 points, or 0.51 percent, to 16,494.43 on Friday.
Dow Jones Industrial Average e-mini futures were down 1.74 percent at 7:00 a.m. ET, while S&P 500 e-mini futures were down 1.58 percent and Nasdaq 100 e-mini futures were down 2.02 percent.
Air Canada on Monday reported a quarterly adjusted profit while analysts were expecting a loss, driven by higher passenger traffic and its acquisition of the Aeroplan loyalty program.
ANALYST RESEARCH HIGHLIGHTS
Autocanada Inc: Canaccord Genuity cuts rating to “hold” from “buy”; cuts target price to C$10 from C$14
Seven Generations Energy Ltd: CIBC cuts target price to C$15 from C$16
Toromont Industries Ltd: CIBC cuts target price to C$68 from C$70
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1282.9; +0.12 percent
US crude: $61.32; -1 percent
Brent crude: $70.34; -0.72 percent
U.S. ECONOMIC DATA DUE ON MONDAY
1000 (approx.) Employment Trends for April: Prior 111.0
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($=C$1.35) (Reporting by Pathikrit Bandyopadhyay; Editing by Sriraj Kalluvila)
Our Standards: The Thomson Reuters Trust Principles.