August 2 (Reuters) - Futures for Canada's main stock index fell on Thursday, as fears of an escalating trade dispute between the United States and China hurt global stocks and oil prices fell for a third day on over-supply concerns.
China on Thursday urged the United States to return to reason after the Trump administration sought to ratchet up pressure for trade concessions by proposing a higher 25-percent tariff on $200 billion worth of Chinese imports. Trade Representative Robert Lighthizer said Trump directed the increase from a previously proposed 10 percent duty because China has refused to meet U.S. demands and has imposed retaliatory tariffs on U.S. goods. futures on the S&P/TSX index SXFc1 were down 0.63 percent at 7:15 a.m. ET.
The Toronto Stock Exchange's S&P/TSX .GSPTSE fell 57.24 points, or 0.35 percent, to 16,376.77 on Wednesday. Jones Industrial Average e-mini futures 1YMc1 were down 0.65 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.6 percent and Nasdaq 100 e-mini futures NQc1 were down 0.76 percent. .N
TOP STORIES TOP/CAN
Oil and gas producer Canadian Natural Resources Ltd (CNRL) CNQ.TO reported a better-than-expected quarterly profit on Thursday, as production rose and the company earned more from per barrel of oil. plane and train maker Bombardier Inc BBDb.TO posted a 7 percent rise in its most-watched measure of earnings in the second quarter, helped by rising sales at its train-making unit. Inc BCE.TO reported an 8 percent drop in quarterly profit on Thursday, hit by higher expenses as the Canadian telecom company invested heavily to upgrade its network and expand its customer base. RESEARCH HIGHLIGHTS RCH/CA
Dundee Precious Metals Inc DPM.TO : RBC raises target price to C$5.5 from C$5
Enercare Inc ECI.TO : Desjardins revises rating to tender from buy; raises target price to C$29 from C$23
Stars Group Inc TSGI.TO : Canaccord Genuity raises target price to C$52 from C$50
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCcv1 : $1224.6; -0.24 pct GOL/
U.S. crude CLc1 : $67.04; -0.92 pct O/R
Brent crude LCOc1 : $71.93; -0.64 pct O/R
LME 3-month copper CMCU3 : $6097; -1.22 pct MET/L
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Challenger layoffs for Jul: Prior 37,202
0830 Initial jobless claims for 28 Jul: Expected 220,000; Prior 21,7000
0830 Jobless claims 4-week average for 28 Jul: Prior 218,000
0830 Continued jobless claims for 21 Jul: Expected 1.750 mln; Prior 1.745 mln
0830 ISM-New York Index for Jul: Prior 785.0
0830 ISM Newyork Business Conditions for Jul: Prior 55.0
0830 Durables ex-defense R mm for Jun: Prior 1.5 pct
0830 Durable goods R mm for Jun: Prior 1.0 pct
0830 Factory orders mm for Jun: Expected 0.7 pct; Prior 0.4 pct
0830 Durables ex-transport R mm for Jun: Prior 0.4 pct
0900 Non Defense cap ex-air R mm for Jun: Prior 0.6 pct
0900 Factory ex-transport mm for Jun: Prior 0.7 pct
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