May 29 (Reuters) - Futures for Canada's main stock index were lower on Wednesday as oil prices fell on concerns that an ongoing stand-off between the United States and China could hurt crude demand.
China is ready to use rare earths to strike back in a trade war with the United States, Chinese newspapers warned in strongly worded commentaries on a move that would escalate tensions between the world's two largest economies. futures on the S&P/TSX index SXFc1 were down 0.23% at 7:00 a.m. ET.
Bank of Canada interest rate decision is due at 10.00 a.m. ET
The Toronto Stock Exchange's S&P/TSX .GSPTSE closed down 50.00 points, or 0.31%, to 16,296.66 on Tuesday. Jones Industrial Average e-mini futures 1YMc1 were down 0.51% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.46% and Nasdaq 100 e-mini futures NQc1 were down 0.69%. .N
TOP STORIES TOP/CAN
U.S. oil and gas producer Devon Energy Corp (NYSE:DVN) DVN.N said it would sell its Canadian assets to Canadian Natural Resources Ltd CNQ.TO for C$3.8 billion in cash as part of an ongoing effort to become a pure-play oil producer. Goose Holdings Inc GOOS.TO posted its slowest revenue growth in eight quarters that also missed estimates, sending shares of the luxury coat maker down more than 10 percent before the bell. of Montreal BMO.TO , Canada's fourth largest lender, missed analysts' estimates for second-quarter profit as higher expenses and provisions for bad loans offset gains in its retail banking business. RESEARCH HIGHLIGHTS RCH/CA
Alcanna Inc CLIQ.TO : Eight Capital starts with buy rating; price target C$9.50
Bank of Nova Scotia BNS.TO : CIBC cuts target price to C$77 from C$81
TCP Energy Corp TRP.TO : RBC raises target price to C$75 from C$71
COMMODITIES AT 7:00 a.m. ET COM/WRAP
Gold futures GCc2 : $1282.6; +0.43% GOL/
US crude CLc1 : $57.97; -1.98% O/R
Brent crude LCOc1 : $68.79; -1.88% O/R
U.S. ECONOMIC DATA DUE ON WEDNESDAY
1000 Rich Fed Composite Index for May: Prior 3
1000 Rich Fed, Services Index for May: Prior 26
1000 Rich Fed Manufacturing Shipments for May: Prior -2
1030 Texas Service Sector Outlook for May: Prior 5.7
1030 Dallas Fed Services Revenues for May: Prior 13.9
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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$1.35)