Aug 9 (Reuters) - Canada's main stock index was set to follow global markets lower on Wednesday as investors held back from betting on riskier assets amid escalating North Korea tensions.
North Korea said it was considering an attack on the U.S. Pacific territory of Guam just hours after President Donald Trump warned Pyongyang that any threat to the U.S. would be met with "fire and fury". futures on the S&P TSX index SXFc1 were down 0.16 percent at 7:15 a.m. ET.
Canada's housing starts report, due at 8:15 a.m. ET, is expected to show builders broke ground on 205,000 homes in July, less than the 212,700 units in June.
Building permits are forecast to have fallen 2 percent in June, compared with a rise of 8.9 percent in May. This data is scheduled for release at 8:30 a.m.
Canada's main stock index ended nearly flat on Tuesday as resource and technology shares weighed, offsetting positive earnings results and a deal in the gaming sector. Jones Industrial Average e-mini futures 1YMc1 were down 0.17 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.41 percent and Nasdaq 100 e-mini futures NQc1 were down 0.58 percent. .N
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TOP STORIES TOP/CAN
BlackBerry Ltd BB.TO shares fell as much as 3.6 percent on the Toronto Stock Exchange after brokerage Goldman Sachs (NYSE:GS) issued a "sell" recommendation on the stock, citing concerns about rising competition in its mobile software business. RESEARCH HIGHLIGHTS RCH/CA
Cargojet Inc CJT.TO : National Bank of Canada cuts rating to "sector perform" from "outperform"
Kinaxis Inc KXS.TO : CIBC cuts rating to "neutral" from "outperformer"
Magellan Aerospace Corp MAL.TO : Canaccord Genuity cuts rating to "hold" from "buy"
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc1 : $1266.4; +0.8 percent GOL/
US crude CLc1 : $49.47; +0.61 percent O/R
Brent crude LCOc1 : $52.47; +0.63 percent O/R
LME 3-month copper CMCU3 : $6489.5; +0.15 percent MET/L
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Labor costs preliminary for Q2: Expected 1.2 pct; Prior 2.2 pct
0830 Productivity preliminary for Q2: Expected 0.7 pct; Prior 0.0 pct
1000 Wholesale inventory(y), revised mm for Jun: Expected 0.6 pct; Prior 0.6 pct
1000 Wholesale sales mm for Jun: Expected 0.1 pct; Prior -0.5 pct
1100 TR IPSOS PCSI for Aug: Prior 60.58
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