CANADA STOCKS-TSX may open lower after weak U.S. data

Thu Jan 14, 2010 9:01am EST
 
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TORONTO Jan 14 (Reuters) - Toronto's main stock index could open lower on Thursday after unexpectedly weak U.S. data hurt investor sentiment.

U.S. stock index futures turned negative after data showed claims for first-time job benefits rose more than expected last week, and retail sales unexpectedly fell in December. [ID:nN13117317] [ID:nN14170396] [.N]

Before the data, Canadian energy producers had been expected to get a boost from rising oil prices. But the price of crude pared gains after the U.S. number.

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...