CANADA STOCKS-TSX could open lower after weak job reports

Fri Jan 8, 2010 8:51am EST
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TORONTO Jan 8 (Reuters) - Toronto's main stock index looked set for a lower open on Friday after a pair of weak employment reports in Canada and the U.S. splashed cold water on investor optimism about a robust economic recovery.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE could follow the trend in the U.S., where stock index futures turned negative after the disappointing U.S. jobs reading. [.N]

A decline in the index would extend losses from Thursday, when the TSX fell for the first time in six days after commodity prices were hit by a rising U.S. dollar and signs that China may tighten its monetary policy. [ID:nN07214349]

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


Canada's labor market recovery stalled in December, unexpectedly losing 2,600 jobs after hefty gains in November in another sign the economic comeback will be gradual rather than in leaps and bounds. [ID:nN08233091]


U.S. employers unexpectedly cut 85,000 jobs in December, government data showed on Friday, cooling optimism on the labor market's recovery and keeping pressure on President Barack Obama. [ID:nN07203048]

OIL STEADY   Continued...