CANADA STOCKS-TSX may open higher; buoyed by strong U.S. results

Fri Jan 21, 2011 8:45am EST
 
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Jan 21 (Reuters) - Canadian stocks looked set to open higher on Friday, taking their cue from south of the border, as strong earnings from conglomerate General Electric boosted investors' optimism.

FACTORS TO WATCH

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

* U.S. stock index futures rose after two days of declines as strong earnings from General Electric and Google boosted investor optimism. [.N]

* Canadian retail sales rose more than expected in November, racking up their biggest increase since March 2010 on higher sales in the auto industry. [CAN-ECI]

* European shares rose, recovering some of the ground lost this week, with Spanish banks gaining on reports of nationalization of weaker players in the sector and energy companies rising on stronger crude prices. [.EU]

* Asian equities fell with Japan's Nikkei sliding 1.6 percent to cap its biggest weekly loss in three months, as lower commodities prices weighed on energy-related stocks and spurred profit-taking after a recent rally.

COMMODITY PRICE MOVES

* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.46 percent in early trade.   Continued...