Aug 30 (Reuters) - Futures for Canada's main stock index edged higher on Friday, tracking global markets, on cautious hopes for a rapprochement on trade between the United States and China.
The two economic superpowers gave signs on Thursday that they will resume trade talks as they discussed the next round of in-person negotiations in September ahead of a looming deadline for additional U.S. tariffs. futures on the S&P/TSX index SXFc1 were up 0.44% at 7:00 a.m. ET.
Canada's second quarter gross domestic product and producer prices for July are due at 8:30 a.m. ET. Also, budget balance data for June is due at 11:00 a.m. ET.
The country's economy is expected to have expanded at an annualized rate of 3.0% in the second quarter, following first-quarter growth of 0.4%. Toronto Stock Exchange S&P/TSX composite index .GSPTSE rose 0.69% to 16,384.49 on Thursday. Jones Industrial Average e-mini futures 1YMc1 were up 0.66% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.66% and Nasdaq 100 e-mini futures NQc1 were up 0.72%. .N
TOP STORIES TOP/CAN
Canadian banks face challenging times as souring macroeconomic conditions and trade uncertainties increase lending risk and weigh on profit margins, investors and analysts said on Thursday after major lenders wrapped up their quarterly earnings season. RESEARCH HIGHLIGHTS RCH/CA
Canadian Western Bank CWB.TO : TD Securities raises target price to C$34.00 from C$33.00
Toronto-Dominion Bank TD.TO : Scotiabank cuts target price to C$80 from C$83
West Fraser Timber Co Ltd WFT.TO : Scotiabank cuts target price to C$60 from C$65
COMMODITIES AT 7:00 a.m. ET COM/WRAP
Gold futures GCc2 : $1528.1; -0.16% GOL/
US crude CLc1 : $55.89; -1.45% O/R
Brent crude LCOc1 : $60.72; -0.59% O/R
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Personal income mm for Jul: Expected 0.3%; Prior 0.4%
0830 Personal consumption real mm for Jul: Prior 0.2%
0830 Consumption, adjusted mm for Jul: Expected 0.5%; Prior 0.3%
0830 Core PCE price index mm for Jul: Expected 0.2%; Prior 0.2%
0830 Core PCE price index yy for Jul: Expected 1.6%; Prior 1.6%
0830 PCE price index mm for Jul: Prior 0.1%
0830 PCE price index yy for Jul: Prior 1.4%
0945 (approx.) Chicago PMI for Aug: Expected 47.5; Prior 44.4
1000 U Mich Sentiment Final for Aug: Expected 92.1; Prior 92.1
1000 U Mich Conditions Final for Aug: Prior 107.4
1000 U Mich Expectations Final for Aug: Prior 82.3
1000 (approx.) U Mich 1 year inflation final for Aug: Prior 2.7%
1000 (approx.) U Mich 5-year inflation final for Aug: Prior 2.6%
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$1.32)