CANADA STOCKS-TSX futures indicate a higher start

Fri Feb 10, 2017 7:34am EST
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Feb 10 (Reuters) - Futures on Canada's main stock index were higher on Friday on strengthening oil prices and hopes of business-friendly tax cuts in the United States.

President Donald Trump said on Thursday that in coming weeks he would announce something "phenomenal" in terms of tax although he offered no further details.

Oil prices rose more than 1 percent after the International Energy Agency reported record initial compliance by OPEC members implementing last year's landmark deal to curb output.

March futures on the S&P TSX index were up 0.15 percent at 7:15 a.m. ET.

Statistics Canada is scheduled to report employment data for January at 8:30 a.m. ET.

The Canadian jobs market is expected to have been unchanged in January, after a strong second half of the year in 2016, leaving the unemployment rate steady at 6.9 percent. After a gain in part-time jobs last year, analysts will look to see if the quality of jobs improved.

The Toronto Stock Exchange's S&P/TSX composite index rose on Thursday to its highest close in two weeks, nearing an all-time peak, as higher oil prices and the prospect of U.S. tax cuts helped trigger gains for heavyweight energy and financial shares.

Dow Jones Industrial Average e-mini futures were up 0.14 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.11 percent and Nasdaq 100 e-mini futures were up 0.12 percent.

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