May 15, 2020 / 11:52 AM / 14 days ago

CANADA STOCKS-TSX futures down as U.S.-China tensions flare

May 15 (Reuters) - Futures for Canada’s main stock index ticked lower on Friday, as worries about Sino-U.S. tensions deepened after Washington moved to block supply of semiconductors to China’s Huawei Technologies from global chipmakers.

The U.S. Commerce Department said it was amending an export rule to “strategically target Huawei’s acquisition of semiconductors that are the direct product of certain U.S. software and technology.”

Tensions between the United States and China have flared in the past few weeks over Beijing’s handling of the novel coronairus, with President Donald Trump saying on Thursday he has no interest in speaking to President Xi Jinping and suggesting he could even cut ties with Beijing.

June futures on the S&P/TSX index were down 0.43% at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index rose 0.04% to 14,509.66 on Thursday.

Dow Jones Industrial Average e-mini futures were down 0.85% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.89% and Nasdaq 100 e-mini futures were down 0.8%.

TOP STORIES

Aurora Cannabis Inc posted a smaller loss compared with the prior quarter on Thursday as customers in the United States and Canada stockpiled cannabis ahead of lockdowns.

ANALYST RESEARCH HIGHLIGHTS

Aurora Cannabis Inc: Cowen and Company cuts price target to C$11 from C$12

Bank of Montreal: National Bank of Canada raises target price to C$78 from C$76

CCL Industries Inc: CIBC raises target price to C$49 from C$44

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1743; +0.12%

US crude: $27.92; +1.31%

Brent crude: $31.56; +1.38%

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 NY Fed Manufacturing for May: Expected -63.50; Prior -78.20

0830 Retail sales ex-autos mm for Apr: Expected -8.6%; Prior -4.5%

0830 Retail sales mm for Apr: Expected -12.0%; Prior -8.7%

0830 Retail ex gas/autos for Apr: Prior -3.1%

0830 Retail control for Apr: Expected -4.6%; Prior 1.7%

0830 (approx.) Retail sales yy for Apr: Prior -6.17%

0915 Industrial production mm for Apr: Expected -11.5%; Prior -5.4%

0915 Capacity utilization SA for Apr: Expected 64.0%; Prior 72.7%

0915 Manufacturing output mm for Apr: Expected -13.0%; Prior -6.3%

0915 (approx.) Industrial production yy for Apr: Prior -5.49%

1000 Business inventories mm for Mar: Expected -0.2%; Prior -0.4%

1000 Retail inventories ex-auto rev for Mar: Prior -1.3%

1000 JOLTS job openings for Mar: Prior 6.882 mln

1000 U Mich Sentiment Preliminary for May: Expected 68.0; Prior 71.8

1000 U Mich Conditions Preliminary for May: Expected 75.0; Prior 74.3

1000 U Mich Expectations Preliminary for May: Expected 71.8; Prior 70.1

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$1.41) (Reporting by Nachiket Tekawade in Bengaluru; Editing by Aditya Soni)

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