CANADA STOCKS-TSX may open firmer on oil rebound

Thu Jan 14, 2010 8:27am EST
 
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TORONTO Jan 14 (Reuters) - Toronto's main stock index could open higher on Thursday as energy producers get a boost from rising oil prices after reassuring remarks from the U.S. Federal Reserve that demand will grow in 2010.

But gains in the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE could be offset by weaker gold, which may hurt the heavily weighted materials sector.

And U.S. futures pointed to a softer open ahead of a raft of U.S. data and Intel Corp's (INTC.O: Quote) first quarter results after the bell, which are expected to kick off the tech sector earnings with a bang. [.N]

Canadian stocks closed higher after a choppy session on Wednesday after two days of losses.

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

OIL REBOUNDS

Oil rose towards $80 a barrel after dropping to 2010 lows the previous day as expectations for rising demand growth in the world's top energy consumer the United States shored up prices. [O/R]

GOLD SLIPS

Gold eased slightly in Europe as the dollar firmed a little against the euro ahead of a European Central Bank policy decision later in the session, curbing interest in the metal as an alternative asset.[GOL/]   Continued...