CANADA STOCKS-TSX set for higher open on oil, U.S. data

Thu Sep 9, 2010 8:42am EDT
 
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TORONTO, Sept 9 (Reuters) - Toronto's main stock index looked set to rise at Thursday's open on the back of higher oil prices and favorable U.S. data, but softer copper prices could limit gains.

FACTORS TO WATCH

* Canadian equity futures <0#SXF:> pointed to a higher open.

* U.S. stock index futures extended gains after and data showed U.S. jobless claims fell last week, and the trade gap narrowed more than expected in July. [.N]

* European shares gained, with a key index holding above a resistance level, as banks gained after positive comments on the economy by a European Central Bank policy-maker helped bolster investors' confidence. [.EU]

* Markets in Asia edged up while China stocks bucked the trend after a sudden drop in the commodities futures prompted skittish investors to take money off the table.

*There is still a 40 percent chance of a double-dip recession in the United States, and the slide back into recession could come within 12 months, U.S. economist Nouriel Roubini said on Wednesday. [ID:nN08143760]

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell 0.17 percent in early trade.   Continued...