August 9, 2017 / 11:36 AM / a month ago

CANADA STOCKS-TSX futures fall on North Korea worries

Aug 9 (Reuters) - Canada’s main stock index was set to follow global markets lower on Wednesday as investors held back from betting on riskier assets amid escalating North Korea tensions.

North Korea said it was considering an attack on the U.S. Pacific territory of Guam just hours after President Donald Trump warned Pyongyang that any threat to the U.S. would be met with “fire and fury”.

September futures on the S&P TSX index were down 0.16 percent at 7:15 a.m. ET.

Canada’s housing starts report, due at 8:15 a.m. ET, is expected to show builders broke ground on 205,000 homes in July, less than the 212,700 units in June.

Building permits are forecast to have fallen 2 percent in June, compared with a rise of 8.9 percent in May. This data is scheduled for release at 8:30 a.m.

Canada’s main stock index ended nearly flat on Tuesday as resource and technology shares weighed, offsetting positive earnings results and a deal in the gaming sector.

Dow Jones Industrial Average e-mini futures were down 0.17 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.41 percent and Nasdaq 100 e-mini futures were down 0.58 percent.

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TOP STORIES

BlackBerry Ltd shares fell as much as 3.6 percent on the Toronto Stock Exchange after brokerage Goldman Sachs issued a “sell” recommendation on the stock, citing concerns about rising competition in its mobile software business.

ANALYST RESEARCH HIGHLIGHTS

Cargojet Inc: National Bank of Canada cuts rating to “sector perform” from “outperform”

Kinaxis Inc: CIBC cuts rating to “neutral” from “outperformer”

Magellan Aerospace Corp: Canaccord Genuity cuts rating to “hold” from “buy”

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1266.4; +0.8 percent

US crude: $49.47; +0.61 percent

Brent crude: $52.47; +0.63 percent

LME 3-month copper: $6489.5; +0.15 percent

U.S. ECONOMIC DATA DUE ON WEDNESDAY

0830 Labor costs preliminary for Q2: Expected 1.2 pct; Prior 2.2 pct

0830 Productivity preliminary for Q2: Expected 0.7 pct; Prior 0.0 pct

1000 Wholesale inventory(y), revised mm for Jun: Expected 0.6 pct; Prior 0.6 pct

1000 Wholesale sales mm for Jun: Expected 0.1 pct; Prior -0.5 pct

1100 TR IPSOS PCSI for Aug: Prior 60.58

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$1.27) (Reporting by Nishit Kunal in Bengaluru; Editing by Saumyadeb Chakrabarty)

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