Futures down on arrest of Chinese executive, fall in oil prices

(Reuters) - Futures for Canada's main stock index fell on Thursday, as the arrest of a Chinese executive in Canada fueled fears that U.S-China trade relations could worsen.

Meng Wanzhou, CFO of Huawei Technologies Co Ltd, who is also the daughter of the Chinese technology giant's founder, was arrested in Canada and faces extradition to the United States for violation of U.S. sanctions.

A fall in oil prices also weakened market sentiment as a crucial OPEC meeting on production cuts started in Vienna. OPEC and its allies are working towards cutting oil output by up to 1.5 million barrels per day, but could fail to reach a deal if no consensus is found with non-OPEC Russia, the Saudi energy minister said.

December futures on the S&P/TSX index were down 1.4 percent at 6:55 a.m. ET.

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

The Toronto Stock Exchange's S&P/TSX .GSPTSE rose 119.05 points, or 0.79 percent, to 15,182.64, on Wednesday, bouncing from its worst one-day drop since Oct. 24.

Dow Jones Industrial Average e-mini futures dropped 1.6 percent at 6:55 a.m. ET, while S&P 500 e-mini futures were down 1.6 percent and Nasdaq 100 e-mini futures were down 2.0 percent.

Need Support? Questions?

Need Support? Questions?
Call us. We're here to help.

Request a Demo

Request a Demo
See how our services can enhance your productivity.

Sign up
Stay in the loop and sign up for our newsletters.