May 9 (Reuters) - Futures for Canada's main stock index dipped on Thursday ahead of crucial trade talks between the United States and China, with investors waiting to see if the world's largest economies can avoid further worsening of the trade war.
Chinese Vice Premier Liu He was heading to Washington for two days of talks, but Trump's insistence that China "broke the deal" and Beijing's response that it would retaliate against tariffs ratcheted up the stakes. futures on the S&P/TSX index SXFc1 were down 0.23 percent at 7:00 a.m. ET.
Canada's trade balance data for March is due at 8:30 a.m. ET.
Statistics Canada is likely to report the country's trade deficit narrowed to C$2.45 billion in March from C$2.9 billion in February. Toronto Stock Exchange's S&P/TSX .GSPTSE rose 39.65 points, or 0.24 percent, to 16,397.40 on Wednesday. Jones Industrial Average e-mini futures 1YMc1 were down 0.61 percent at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.62 percent and Nasdaq 100 e-mini futures NQc1 were down 0.77 percent. .N
TOP STORIES TOP/CAN
Canadian Natural Resources Ltd CNQ.TO reported a better-than-expected first-quarter profit, boosted by higher prices for its crude on the back of Alberta's output curtailments. parts maker Magna International Inc MG.TO lowered its 2019 profit forecast, as it expects higher costs on certain programs and lower earnings from a transmission joint venture in China. retailer Canadian Tire Corp Ltd CTCa.TO reported a 1.7 percent drop in profit on higher interest expense and lease liabilities. RESEARCH HIGHLIGHTS RCH/CA
Ivanhoe Mines Ltd IVN.TO : CIBC raises target price to C$3.40 from C$3.30
Park Lawn Corp PLC.TO : CIBC raises target price to C$32 from C$30
Pollard Banknote Ltd. PBL.TO : Canaccord Genuity raises price target to C$25.00 from C$24.50
COMMODITIES AT 7:00 a.m. ET COM/WRAP
Gold futures GCc2 : $1284; +0.2 percent GOL/
US crude CLc1 : $61.91; -0.34 percent O/R
Brent crude LCOc1 : $70.34; -0.04 percent O/R
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 International trade for March: Expected -$50.2 bln; Prior -$49.4 bln
0830 Goods trade balance (R) for March: Prior -$71.45 bln
0830 Initial jobless claims: Expected 220,000; Prior 230,000
0830 Jobless claims 4-week average: Prior 212,500
0830 Continued jobless claims: Expected 1.670 mln; Prior 1.671 mln
0830 PPI final demand yy for April: Expected 2.3 pct; Prior 2.2 pct
0830 PPI final demand mm for April: Expected 0.2 pct; Prior 0.6 pct
0830 PPI exfood/energy yy for April: Expected 2.5 pct; Prior 2.4 pct
0830 PPI exfood/energy mm for April: Expected 0.2 pct; Prior 0.3 pct
0830 PPI ex food/energy/transport yy for April: Prior 2.0 pct
0830 PPI ex food/energy/transport mm for April: Prior 0.0 pct
1000 Wholesale inventory, R mm for March: Expected 0.0 pct; Prior 0.0 pct
1000 Wholesale sales mm for March: Expected 0.2 pct; Prior 0.3 pct
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1 EPOLL/CA
Canadian markets directory CANADA
($1=C$1.35)