(Updates with economic data)
June 3 (Reuters) - Canada stock futures were little changed on Friday after weak U.S. jobs data reduced the prospect of an interest rate hike by the Federal Reserve in the coming months.
Nonfarm payrolls increased by only 38,000 jobs last month, the smallest gain since September 2010, the U.S. Labor Department said.
U.S. jobless rate fell three-tenths of a percentage point to 4.7 percent in May, the lowest since November 2007.
June futures on the S&P TSX index were flat at 8:55 a.m. ET.
The labor productivity of Canadian businesses grew by 0.4 percent in the first quarter after recording no growth in the fourth quarter of 2015, Statistics Canada said.
Canada’s trade deficit in April narrowed to C$2.94 billion ($2.24 billion) from a record C$3.18 billion in March as exports grew at a slightly faster rate than imports, according to another report.
Canada’s main stock index rose on Thursday, led by energy and financial stocks, as oil settled higher after a U.S. crude draw offset disappointment that some major producers did not restrain output.
Dow Jones Industrial Average e-mini futures were down 0.29 percent at 8:45 a.m. ET, while S&P 500 e-mini futures were down 0.37 percent and Nasdaq 100 e-mini futures were down 0.28 percent.
Canada’s Alimentation Couche-Tard Inc and Japan’s Seven & i Holdings Co Ltd have submitted indicative offers to acquire U.S. convenience store retailer CST Brands Inc , people familiar with the matter said on Thursday.
Troubled Canadian drugmaker Valeant Pharmaceuticals International Inc said it received another notice of default from bondholders for the delay in filing its first-quarter report.
COMMODITIES AT 8:45 a.m. ET
Gold futures : $1,213.10; +0.16 pct
US crude : $49.08; -0.18 pct
Brent crude : $49.99; -0.1 pct
LME 3-month copper : $4,681; +1.58 pct
ANALYST RESEARCH HIGHLIGHTS
Canadian Western Bank : National Bank Financial raises price target to C$23 from C$22; rating “underperform”
Saputo Inc : CIBC raises target price to C$44 from C$40
Trican Well Service Ltd : CIBC raises target price to C$2.25 from C$1.75
U.S. ECONOMIC DATA ON FRIDAY
0830 Non-farm payrolls for May: Actual 38,000; Prior 123,000
0830 Private payrolls for May: Actual 25,000; Prior 130,000
0830 Manufacturing payrolls for May: Actual -10,000; Prior 2,000
0830 Government payrolls for May: Actual 13,000; Prior -7,000
0830 Unemployment rate for May: Actual 4.7 pct; Prior 5.0 pct
0830 Average earnings mm for May: Actual 0.2 pct; Prior 0.4 pct
0830 Average workweek hours for May: Actual 34.4 hrs; Prior 34.4 hrs
0830 Labor force participation for May: Actual 62.6 pct; Prior 62.8 pct
0830 U6 underemployment for May: Actual 9.7 pct; Prior 9.7 pct
0830 International trade mm for Apr: Actual -$37.4 bln; Revised -$35.5 bln
U.S. ECONOMIC DATA DUE ON FRIDAY
0945 Markit Services PMI Final for May: Prior 51.2
0945 Markit Composite Final PMI for May: Prior 50.8
1000 Durables ex-defense, R mm for Apr: Prior 3.7 pct
1000 Durable goods, R mm for Apr: Prior 3.4 pct
1000 Factory orders mm for Apr: Expected 1.9 pct; Prior 1.5 pct
1000 Durables ex-transport R mm for Apr: Prior 0.4 pct
1000 Nondef cap ex-air R mm for Apr: Prior -0.8 pct
1000 Factory ex-transport mm for Apr: Prior 1.0 pct
1000 ISM N-Manufacturing PMI for May: Expected 55.5; Prior 55.7
1000 ISM N-Manufacturing Business Activity index for May: Prior 58.8
1000 ISM N-Manufacturing Employment Index for May: Prior 53.0
1000 ISM N-Manufacturing New Orders Index for May: Prior 59.9
1000 ISM N-Manufacturing Price Paid Index for May: Prior 53.4
1030 ECRI Weekly Index: Prior 136.1
1030 ECRI weekly annualized: Prior 6.1 pct
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$1.31) (Reporting by Nivedita Balu in Bengaluru; Editing by Anil D’Silva)
Our Standards: The Thomson Reuters Trust Principles.