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 JOBS DATA

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. NON-FARM PAYROLLS

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...