TSX futures dive as investors await US data amid global sell-off
Aug 2 (Reuters) -Futures for Canada's main stock index slid on Friday as investors exercised caution ahead of crucial U.S. payrolls data amid a global downturn, while an uptick in commodity prices helped limit declines.
September futures on the S&P/TSX index SXFcv1 were down 1.0% at 6:23 a.m. ET (1023 GMT).
Investors look forward to the crucial non-farm payrolls data (NFP) in the U.S., due at 8:30 a.m. ET, that is expected to shed more light on the state of the American economy.
It follows weaker factory data from Thursday that stoked fears of an economic slowdown and weighed on investor sentiment globally.
Downbeat earnings from tech companies like Intel INTC.O and Amazon.com AMZN.O sparked a sell-off in tech shares across markets, with U.S. futures falling sharply on Friday. .N
Meanwhile, resources-linked shares in Canada are expected to limit declines, as oil prices gained and gold was poised for its biggest weekly jump in four months. O/R GOL/
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1.7% lower on Thursday, logging its biggest daily decline since February. .TO
The index had closed at a record high on Wednesday, after the Federal Reserve opened the door to a September cut at its last policy decision.
In corporate news, resources companies like pipeline operator Enbridge ENB.TO and oil producer Imperial Oil IMO.TO are set to report their quarterly figures before the opening bell on Friday.
Auto parts supplier Magna International MG.TO missed analysts' estimates for second-quarter results, hurt by production being stopped for certain vehicles and lower number of automobiles it assembled.
COMMODITIES AT 6:23 a.m. ET
Gold futures GCc2: $2,471.4; +1.0% GOL/
US crude CLc1: $76.41; +0.1% O/R
Brent crude LCOc1: $79.62; +0.1% O/R
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$1.3869)
Reporting by Purvi Agarwal in Bengaluru; Editing by Vijay Kishore
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