April 4 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Wednesday after China retaliated in equal measure against the latest U.S. tariffs, sparking fears of an intensifying trade war and a flight to safer assets.
June futures on the S&P TSX index SXFc1 were down 1.46 percent at 7:15 a.m. ET.
Canada's main stock index fell on Tuesday as declines for financial and gold mining shares offset gains for energy and auto part stocks. ID:nL2N1RG1XY
China hit back against the Trump administration's plans to slap tariffs on $50 billion in Chinese goods, retaliating with a list of similar duties on key U.S. imports including soybeans, planes, cars, beef and chemicals. Jones Industrial Average e-mini futures 1YMc1 were down 2.13 percent at 7:15 a.m. ET, while S&P 500 e-mini futures Esc1 fell 1.63 percent and Nasdaq 100 e-mini futures NQc1 were 1.97 percent lower. .N (Morning News Call newsletter http://link.reuters.com/nex49s; The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
Saputo Inc SAP.TO won approval from Australia's competition regulator for the planned $1 billion takeover of the country's largest dairy processor, Murray Goulburn Co-operative, after the Canadian company agreed to sell a key asset. ID:nL4N1RG6L0
COMMODITIES AT 7:15 a.m. ET COM/WRAP
Gold futures GCc2 : $1,347.8; 0.67 pct GOL/
US crude CLc1 : $62.52; -1.56 pct O/R
Brent crude LCOc1 : $67.18; -1.39 pct O/R
LME 3-month copper CMCU3 : $6673; -1.81 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Step Energy Services Ltd STEP.TO : CIBC raises price target to C$24 from C$22.
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0815 ADP national employment for Mar: Expected 205,000; Prior 235,000
0945 Markit Composite Final PMI for Mar: Prior 54.3
0945 Markit Services PMI Final for Mar: Prior 54.1
1000 Durables ex-defense R mm for Feb: Prior 2.5 pct
1000 Durable goods R mm for Feb: Prior 3.1 pct
1000 Factory orders mm for Feb: Expected 1.7 pct; Prior -1.4 pct
1000 Durables ex-transport R mm for Feb: Prior 1.2 pct
1000 Nondefense cap ex-air R mm for Feb: Prior 1.8 pct
1000 Factory ex-transport mm for Feb: Prior 0.4 pct
1000 ISM N-Manufacturing PMI for Mar: Expected 59 .0; Prior 59.5
1000 ISM N-Manufacturing Business Activity for Mar: Expected 62.3; Prior 62.8
1000 ISM N-Manufacturing Employment Index for Mar: Prior 55 .0
1000 ISM N-Manufacturing New Orders Index for Mar: Prior 64.8
1000 ISM N-Manufacturing Price Paid Index for Mar: Prior 61 .0
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Canadian markets directory CANADA
($1= C$1.28)