January 9, 2015 / 2:07 PM / 3 years ago

CANADA STOCKS-Futures erase some losses after jobs data

3 Min Read

(Updates data and top news)

Jan 9 (Reuters) - Futures on Canada's main stock index erased some early losses after the release of Canadian and U.S. jobs data.

March futures on the S&P TSX index were off 0.23 percent at 8.45 a.m. ET after being down 0.49 points ahead of the release of the data.

Canada's job market continued to cool in December, shedding 4,300 positions after a loss of 10,700 jobs in November, while the unemployment rate remained at 6.6 percent.

U.S. job growth increased briskly, however, further strengthening the economy's fundamentals.

Dow Jones Industrial Average e-mini futures were up 0.02 percent at 8.45 a.m. ET, after being down ahead of the data. S&P 500 e-mini futures were up 0.09 percent and Nasdaq 100 e-mini futures were up 0.31 percent.

Canada's main stock index rose 1.2 percent on Thursday, helped by positive U.S. data and higher oil prices.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

Top Stories

The value of Canadian building permits fell by a larger-than-expected 13.8 percent in November from October, Statistics Canada data indicated on Friday.

The U.S. Navy added CGI Federal Inc and DRS Technologies Inc, a unit of Italy's Finmeccanica SpA, to an umbrella contract valued at up to $2.5 billion to update the electronic networks on its ships.


Gold futures : $1,214.6; +0.51 pct

US crude : $48.48; -0.64 pct

Brent crude : $50.23; -1.43 pct

LME 3-month copper : $6104.75; +0.01 pct

Analyst Research Highlights

CGI Group : RBC raises price target to C$53 from C$47; rating "outperform"

Air Canada : National Bank Financial raises target to C$15 from C$12

New Gold Inc : Dundee cuts to "neutral" from "buy"

Thompson Creek Metals : Dundee cuts to "neutral" from "buy"

u.s. Economic Data Due on Friday

0830 Non-Farm Payrolls for Dec: Actual 252,000; Prior 321,000

0830 Private Payrolls for Dec: Actual 240,000; Prior 314,000

0830 Manufacturing Payrolls for Dec: Actual 17,000; Prior 28,000

0830 Government Payrolls for Dec: Actual 12,000; Prior 7,000

0830 Unemployment Rate for Dec: Actual 5.6 pct; Prior 5.8 pct

0830 Average Earnings mm for Dec: Actual -0.2 pct; Prior 0.4 pct

0830 Average Workweek Hrs for Dec: Actual 34.6 hrs; Prior 34.6 hrs

1000 Wholesale Inventories mm for Nov: Expected 0.3 pct; Prior 0.4 pct

1000 Wholesale Sales mm for Nov: Expected 0.0 pct; Prior 0.2 pct

1030 ECRI Weekly Index: Prior 130.8

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$1.18) (Reporting by Abhinav Kaul in Bengaluru; Editing by Kirti Pandey and Ted Kerr)

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