March 2 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday, weighed down by trade war fears and declining oil prices.
A day after announcing steep tariffs on imports of steel and aluminum, U.S. President Donald Trump tweeted that "trade wars are good, and easy to win." Some futures on the S&P TSX index SXFc1 were down 0.31percent at 7:15 a.m. ET.
Canada's gross domestic product report for the fourth quarter is due at 8:30 a.m. ET. The country's economy likely cooled in the second half of last year, with analysts expecting the annualized report to come in below the Bank of Canada's 2.5 percent forecast. The main stock index fell to a more than two-week lowon Thursday, weighed by declines for auto parts, railroad and steel companies as global investors worried about the impact ofmore protectionist trade policies proposed by Trump. Jones Industrial Average e-mini futures 1YMc1 were down 0.79 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.51 percent and Nasdaq 100 e-mini futures NQc1 were down 0.78 percent. .N
(Morning News Call newsletter http://share.thomsonreuters.com/assets/newsletters/Morning_News_Call/MNC_US.pdf ; The Day Ahead newsletter http://share.thomsonreuters.com/assets/newsletters/The_Day_Ahead/TDA_NAM.pdf)
TOP STORIES TOP/CAN
Markets are adapting to making their own forecasts on whereinterest rates are going, the head of the Bank of Canada said onThursday, though he acknowledged the decision to drop forwardguidance four years ago has met some criticism. retailer Mountain Equipment Co-op (MEC) said onThursday it suspended new orders from five outdoor activitybrands owned by Vista Outdoor Inc VSTO.N , which also makesguns and ammunition, as the U.S. gun control debate spilledacross the border. marijuana producer Canopy Growth Corp WEED.TO will list on the Nasdaq "in due course," Chief Executive OfficerBruce Linton said on Thursday. of Montreal BMO.TO on Thursday unveiled plans to opena new office in Toronto, where the now bankrupt Sears Canada'sheadquarters used to be. RESEARCH HIGHLIGHTS RCH/CA
Crescent Point Energy Corp CPG.TO : TD Securities cutstarget price to C$14.50 from C$15.50
Toronto-Dominion Bank TD.TO : Eight Capital raises targetprice to C$86 from C$76.
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1320.3; +1.34 percent GOL/
US crude CLc1 : $60.63; -0.59 percent O/R
Brent crude LCOc1 : $63.44; -0.61 percent O/R
LME 3-month copper CMCU3 : $6926; -0.06 percent MET/L
U.S. ECONOMIC DATA DUE ON FRIDAY
0845 ISM-New York Index for Feb: Prior 767.9
0845 ISM Newyork Business Conditions for Feb: Prior 72.5
1000 U Mich Sentiment Final for Feb: Expected 99.5; Prior95.7
1000 U Mich Conditions Final for Feb: Prior 110.5
1000 U Mich Expectations Final for Feb: Prior 86.3
1000 U Mich 1 year inflation final for Feb: Prior 2.7 pct
1000 U Mich 5-year inflation final for Feb: Prior 2.5 pct
1030 ECRI Weekly Index: Prior 149.0
1030 ECRI weekly annualized: Prior 7.5 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$1.29)