CANADA STOCKS-TSX set to open lower despite strong jobs data

Fri Oct 10, 2014 8:44am EDT
 
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(Updates after jobs data)
    Oct 10 (Reuters) - Stock futures pointed to a lower opening
for Canada's main stock index on Friday as mounting worries over
the pace of global growth outweighed stronger-than-expected jobs
data.
    Canada added a much greater-than-expected 74,100 jobs in
September, most of them full-time, and the jobless rate fell to
a near six-year low of 6.8 percent. 
    December futures on the S&P TSX index were down 0.5
percent at 0845 ET, little changed from before the data release.
    The index dropped sharply on Thursday as concerns
about the health of the global economy hit sentiment and shares
of energy producers dived as oil prices fell. 
    Dow Jones Industrial Average e-mini futures were
down 0.46 percent at 0845 ET, while S&P 500 e-mini futures
 were down 0.44 percent and Nasdaq 100 e-mini futures
 were down 0.91 percent. 
     
   (Morning News Call newsletter link.reuters.com/nex49s;
 The Day Ahead newsletter link.reuters.com/mex49s)

    TOP STORIES 
    The Canadian government stands ready to act to cool the
housing market if necessary but does not see a housing bubble or
the need for any dramatic moves, Finance Minister Joe Oliver
said on Thursday. 
    With marijuana still illegal on a federal level in the
United States, American investors in Canadian medical marijuana
can be seen as violating the Controlled Substances Act,
according to some U.S experts. And the use of the banking system
to transfer the proceeds of such investments could be seen as
money laundering. 
        
    COMMODITIES AT 0845 ET 
    Gold futures : $1223.00; -0.15 pct 
    US crude : $84.30; -1.73 pct 
    Brent crude : $89.10; -1.08 pct 
    LME 3-month copper : $6,620.75; -1.48 pct 
    
    ANALYST RESEARCH HIGHLIGHTS 
    Bankers Petroleum Ltd : Wood & Co raises to "buy"
from "hold"
    Manitok Energy Inc : Canaccord Genuity cuts to
"speculative buy" from "buy"
    
    U.S. ECONOMIC DATA DUE ON FRIDAY
    0830 Import Prices mm for Sep: Actual -0.5 pct; Prior -0.9
pct
    0830 Export Prices mm for Sep: Actual -0.2 pct; Prior -0.5
pct
    1030 ECRI Weekly Index: Prior 134.6
    1030 ECRI Weekly Annualized: Prior +1.8 pct
    
    FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
    TSX market report 
    Canadian dollar and bonds report  
    Reuters global stocks poll for Canada 
 
    Canadian markets directory 
    
 ($1 = C$1.11)

 (Reporting by Benny Thomas in Bangalore)