CANADA STOCKS-TSX set to open lower on weak Canadian, U.S. jobs data

Fri Sep 5, 2014 8:53am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Updates Canada and U.S. jobs data)

Sept 5 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday after data showed that the country's employment declined sharply and U.S. job growth slowed.

September futures on the S&P TSX index <0#SXF:> were down 0.06 percent at 0845 ET.

The Canadian economy unexpectedly lost a net 11,000 jobs in August from July as well as a whopping 111,800 positions from the private sector, Statistics Canada data indicated on Friday.

The jobless rate stayed at 7.0 percent. Analysts forecast that 10,000 positions would be added after the gain of 41,700 in July.

U.S. job growth slowed down sharply in August and more Americans gave up the hunt for work, giving a cautious Federal Reserve more reasons to wait a bit longer before raising interest rates.

Canada's main stock index closed lower on Thursday, hurt by a decline in stocks of gold miners and energy companies as the price of gold fell and oil slipped on a surprise European Central Bank rate cut.

Dow Jones Industrial Average e-mini futures were down 0.04 percent at 0845 ET, while S&P 500 e-mini futures were up 0.01 percent and Nasdaq 100 e-mini futures were up 0.23 percent.

(Morning News Call newsletter; The Day Ahead newsletter   Continued...