CANADA STOCKS-TSX looks set to edge higher on commodities

Wed Feb 4, 2009 8:40am EST
 
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TORONTO Feb 4 (Reuters) - Toronto's main stock index is expected to edge higher on Wednesday as commodity prices advanced.

But investors will also look at the employment picture in the United States after two reports showing further job losses there, as well as uncertainty about the massive U.S. economic stimulus package.

The S&P/TSX composite index .GSPTSE had a largely directionless session on Tuesday, which saw the index trade in a 123-point range from trough to peak. But it managed to eke out a small gain to end a three-session losing streak.

Here is some of the news that may affect the market.

OIL ABOVE $41, GOLD STEADIES ABOVE $900

Oil rose to over $41 a barrel despite expectations that weekly U.S. data, due at 10:30 a.m. (1530 GMT), would show a build in crude stockpiles as demand for energy in the world's biggest oil consumer declines. [ID:nSP363085]

Gold steadied above $900 an ounce, recovering from earlier losses. [ID:nL4431043]

CANADA REGULATORS, RIM CEOS REACH SETTLEMENT

Canadian securities regulators have reached a potential settlement with the top two executives of Research In Motion RIM.TO following an investigation into a stock option accounting controversy dating back to 1996. [ID:nN03549717]   Continued...