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TSX futures down on U.S.-China trade worries

Credit: REUTERS/MARK BLINCH

Stock futures pointed to a lower opening for Canada's main stock index on Thursday after fresh trade tensions between the United States and China surfaced.

Oct 31 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Thursday after fresh trade tensions between the United States and China surfaced.

Chinese officials have doubts about whether it is possible to reach a comprehensive long-term trade deal with Washington and U.S. President Donald Trump, Bloomberg reported, citing sources.

December futures on the S&P/TSX index SXFc1 were down 0.33% at 7:00 a.m. ET.

Canada's GDP data is due at 8:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed 0.51% higher at 16,501.43 on Wednesday.

Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.26% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.28% and Nasdaq 100 e-mini futures NQc1 were down 0.17%. .N

TOP STORIES TOP/CAN

Canadian plane and train maker Bombardier Inc BBDb.TO used more cash than analysts had expected in the third quarter as it ramped up production of its flagship Global 7500 business jet and pushed back some train deliveries.

Canadian oil producer Cenovus Energy Inc CVE.TO reported a quarterly profit compared to a loss a year earlier, as it benefited from higher crude prices because of government-imposed production curbs and a tight leash on costs.

Thomson Reuters Corp TRI.N, TRI.TO, parent of the Reuters News agency, reported higher-than-expected quarterly operating profit on Thursday and affirmed its 2019 and 2020 estimates.

Suncor Energy Inc SU.TO reported third-quarter profit on Wednesday, just shy of estimates as weak business environment and higher operating and transportation expenses dented the second-largest Canadian oil and gas producer's margins.

ANALYST RESEARCH HIGHLIGHTS RCH/CA

Genworth MI Canada Inc MIC.TO: CIBC cuts target price to C$56 from C$57

Maple Leaf Foods Inc MFI.TO: Scotiabank cuts target price to C$35 from C$42.50

Quebecor Inc QBRB.TO: Scotiabank raises target price to C$37 from C$36

COMMODITIES AT 7:00 a.m. ET COM/WRAP

Gold futures GCc2: $1508.8; +0.81% GOL/

US crude CLc1: $54.92; -0.25% O/R

Brent crude LCOc1: $60.71; +0.16% O/R

U.S. ECONOMIC DATA DUE ON THURSDAY

0730 Challenger layoffs for Oct: Prior 41,557

0830 Personal income mm for Sep: Expected 0.3%; Prior 0.4%

0830 Personal consumption real mm for Sep: Prior 0.1%

0830 Consumption, adjusted mm for Sep: Expected 0.2%; Prior 0.1%

0830 Core PCE price index mm for Sep: Expected 0.1%; Prior 0.1%

0830 Core PCE price index yy for Sep: Expected 1.7%; Prior 1.8%

0830 PCE price index mm for Sep: Prior 0.0%

0830 PCE price index yy for Sep: Prior 1.4%

0830 Initial jobless claims : Expected 215,000; Prior 212,000

0830 Jobless claims 4-week average : Prior 215,000

0830 Continued jobless claims : Expected 1.680 mln; Prior 1.682 mln

0830 Employment wages QQ for Q3: Prior 0.7%

0830 Employment benefits QQ for Q3: Prior 0.5%

0830 Employment costs for Q3: Expected 0.7%; Prior 0.6%

0945(approx.) Chicago PMI for Oct: Expected 48.0; Prior 47.1

1200(approx.) Dallas fed PCE for Sep: Prior 1.1%

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)

(Reporting by Nayyar Rasheed in Bengaluru; Editing by Arun Koyyur)

((Email: nayyar.abdulrasheed@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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