May 6, 2019 / 11:30 AM / 13 days ago

CANADA STOCKS-TSX futures fall after Trump vows China tariff hike

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.

TOP STORIES

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)

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