(Reuters) - Canada’s main stock index futures slipped on Wednesday, a session after stocks posted their best quarter since the global financial crisis, as coronavirus cases spiked in the United States.
September futures on the S&P/TSX index were down 0.21% at 7:00 a.m. ET. On Tuesday, the Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE ended 0.82% higher at 15,515.22
Dow Jones Industrial Average e-mini futures were down 0.99% at 7:00 a.m. ET. S&P 500 e-mini futures fell 0.68% and Nasdaq 100 e-mini futures slipped 0.5%. [.N]
New U.S. COVID-19 cases rose by more than 47,000 on Tuesday according to a Reuters tally, the biggest one-day spike since the start of the pandemic, as the government’s top infectious disease expert warned that number could soon double.
TOP STORIES [TOP/CAN]
New North American trade deal between the United States, Canada and Mexico taking effect on Wednesday was meant to create a kind of fortress North America, boosting the region’s competitiveness - but cracks are already starting to show in the foundation.
A stalking horse bid for Cirque du Soleil Entertainment Group was dismissed as inadequate by lenders during a Quebec court hearing into the company’s restructuring on Tuesday.
A UN agency agreed on Tuesday to change a landmark aviation emissions scheme, in a boost for airlines that said they could face billions of dollars in costs under the current deal when air travel recovers from the coronavirus pandemic.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Cineplex Inc: RBC cuts target price to C$11 from C$13Alimentation Couche-Tard Inc: Scotiabank raises price target to C$51 from C$44
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,795.1; -0.3% [GOL/]
US crude: $40.06; +2.01% [O/R]
Brent crude: $42.05; +1.91% [O/R]
U.S. ECONOMIC DATA DUE ON WEDNESDAY
07.30 Challenger layoffs for Jun: Prior 397,016
08.15 ADP national employment for Jun: Expected 3,000,000; Prior -2,760,000
09.45 Markit Manufacturing PMI Final for Jun: Prior 49.6
10.00 Construction spending mm for May: Expected 1.0%; Prior -2.9%
10.00 ISM Manufacturing PMI for Jun: Expected 49.5; Prior 43.1
10.00 ISM Manufacturing Prices Paid for Jun: Expected 43.0; Prior 40.8
10.00 ISM Manufacturing Employment Index for Jun: Expected 43.0; Prior 32.1
10.00 ISM Manufacturing New Orders Index for Jun: Prior 31.8
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
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Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada <EPOLL/CA>
Canadian markets directory
Reporting by Shivani Kumaresan in Bengaluru; Editing by Amy Caren Daniel
Our Standards: The Thomson Reuters Trust Principles.