US Markets

TSX futures drop as trade war, recession worries weigh

Credit: REUTERS/CHRIS HELGREN

Futures for Canada's main stock index pointed to a lower opening on Monday, as oil prices dropped amid worries of an economic slowdown and a year-long Sino-U.S. trade tariff tussle.

Aug 12 (Reuters) - Futures for Canada's main stock index pointed to a lower opening on Monday, as oil prices dropped amid worries of an economic slowdown and a year-long Sino-U.S. trade tariff tussle.

September futures in the S&P/TSX index SXFc1 were down 0.44%, as of 7:00 a.m. ET.

The Toronto Stock Exchange's S&P/TSX .GSPTSE dropped 63.19 points, or 0.39%, to 16,341.34 on Friday.

Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.57% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.54% and Nasdaq 100 e-mini futures NQc1 were down 0.55%. .N

TOP STORIES TOP/CAN

Canada's largest airline Air Canada AC.TO has raised the value of its offer to buy Canadian tour operator Transat AT Inc TRZ.TO to about C$720 million, or C$18 per share, from its earlier offer of C$13 a share, the companies said in a joint statement.

Great Pacific Capital Corp has offered to take private Canadian integrated forest products company Canfor Corp CFP.TO at C$16 per share, or about C$2 billion overall, payable in cash, it said on Sunday.

ANALYST RESEARCH HIGHLIGHTS RCH/CA

Algoma Central Corp ALC.TO: Cormark Securities cuts target price by C$2 to C$17

Cervus Equipment Corp CERV.TO: CIBC cuts rating to "neutral" from "outperformer"

CES Energy Solutions CEU.TO: RBC raises rating to "outperform" from "sector-perform"

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

Gold futures GCc2: $1,505.4; +0.45% GOL/

US crude CLc1: $53.91; -1.08% O/R

Brent crude LCOc1: $58.18; -0.6% O/R

U.S. ECONOMIC DATA DUE ON MONDAY

1400 Federal budget for July: Expected -$112.50 bln; Prior -$8.00 bln

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 Hrithik Kiran Bagade in Bengaluru, Editing by Sherry Jacob-Phillips)

((hrithik.bagade@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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