CANADA STOCKS-TSX points to lower open; U.S. data eyed

Thu Jan 16, 2014 8:45am EST
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Jan 16 (Reuters) - After hitting a 2-1/2 year high in the previous session, Canada's main stock index looked set to open flat to slightly lower on Thursday as investors paused ahead of a slew of U.S. economic data and corporate earnings.


* Euro zone inflation slowed in December, the European Union's statistics office confirmed, with the European Central Bank citing a one-time change in the method of calculating price growth in Germany.

* Goldman Sachs Group Inc reported a 21 percent drop in quarterly profit as revenue from fixed-income trading fell.

* BlackRock Inc, the world's largest money manager, said fourth-quarter profit rose 24 percent on growth in markets, long-term net inflows and strong performance fees.

* Sears Canada Inc plans to cut more than 1,600 jobs, or more than 7 percent of it workforce, this year as it reorganizes and outsources some businesses, the struggling department store operator said on Wednesday.

* Rio Tinto posted big increases in the production of iron ore and other minerals in 2013, betting China's massive economic growth will provide a ready market for decades to come.

MARKET SNAPSHOT   Continued...