December 5, 2014 / 12:32 PM / 3 years ago

CANADA STOCKS-TSX futures point to higher start, jobs data awaited

Stock futures pointed to a higher opening for Canada’s main stock index on Friday.

December futures on the S&P TSX index were up 0.18 percent at 7.15 a.m. ET.

Data on employment change, trade balance and exports is due at 8.30 a.m. ET.

Canada’s main stock index recorded its biggest single-day drop in 18 months on Thursday as weakness in oil prices fueled a sell-off in shares of energy producers and Toronto-Dominion Bank fell after the lender reported quarterly results.

Dow Jones Industrial Average e-mini futures were up 0.06 percent at 7.15 a.m. ET, while S&P 500 e-mini futures were up 0.12 percent and Nasdaq 100 e-mini futures were up 0.11 percent. (Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Shares of Toronto-Dominion Bank and Canadian Imperial Bank of Commerce slid on Thursday after the companies posted soft results in what is shaping up to be a disappointing fourth-quarter earnings season for Canadian lenders.

Shares of Enbridge Inc surged more than 12 percent to a record high on Thursday, a day after the company outlined plans to transfer ownership of its Canadian pipelines to an affiliate and boost its dividend by 33 percent.

COMMODITIES AT 7.15 a.m. ET

Gold futures : $1,202.50; -0.41 pct

US crude : $66.28; -0.79 pct

Brent crude : $69.05; -0.85 pct

LME 3-month copper : $6,515; +0.7 pct

ANALYST RESEARCH HIGHLIGHTS

Air Canada : Macquarie raises rating to “outperform” from “neutral” and price target to C$15 from C$9.50

Canadian Natural Resources : CIBC cuts price target to C$50 from C$52

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Non-farm payrolls for Nov: Expected 230,000; Prior 214,000

0830 Private payrolls for Nov: Expected 218,000; Prior 209,000

0830 Manufacturing payrolls for Nov: Expected 14,000; Prior 15,000

0830 Government payrolls for Nov: Prior 5,000

0830 Unemployment rate for Nov: Expected 5.8 pct; Prior 5.8 pct

0830 Average earnings mm for Nov: Expected 0.2 pct; Prior 0.1 pct

0830 Average workweek hours for Nov: Expected 34.6 hrs; Prior 34.6 hrs

0830 Labor force participation for Nov: Prior 62.8 pct

0830 U6 underemployment for Nov: Prior 11.5 pct

0830 International trade mm for Oct: Expected -41.4 bln; Prior -43.0 bln

1000 Durables ex-defense, revised mm for Oct: Prior -0.6 pct

1000 Factory orders mm for Oct: Expected 0.0 pct; Prior -0.6 pct

1000 Durables ex-transport revised mm for Oct: Prior -0.9 pct

1000 Non-defense cap ex-air revised mm for Oct: Prior -1.3 pct

1500 Consumer credit for Oct: Expected $16.48 bln; Prior $15.92 bln

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

$1= C$1.14 Reporting by Pradip Kakoti in Bengaluru; Editing by Kirti Pandey

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