Feb 5 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Friday ahead of the monthly jobs report.
The Canadian economy is forecast to have added just 5,500 jobs in January, a slowdown from the 22,800 pace seen in the final month of 2015. The modest pace of job growth is expected to keep the unemployment rate unchanged at 7.1 percent in January.
The jobs report is due at 8:30 a.m. ET.
March futures on the S&P TSX index were up 0.4 percent at 7:15 a.m. ET.
Canada’s main stock index jumped on Thursday as higher commodity prices helped lift mining stocks, while banks and railways also saw strong gains and the energy sector rose despite a slip in oil prices.
Dow Jones Industrial Average e-mini futures were up 0.13 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.09 percent and Nasdaq 100 e-mini futures were up 0.16 percent.
Canada’s biggest pension funds say they are walking away from more and more global infrastructure deals, citing concerns that intense competition for assets has driven valuations too far.
COMMODITIES AT 7:30 a.m. ET
Gold futures : $1,159.50; +0.16 pct
US crude : $32.16; +1.39 pct
Brent crude : $34.78; +0.93 pct
LME 3-month copper : $4,676.50; -0.22 pct
ANALYST RESEARCH HIGHLIGHTS
Brookfield Renewable Energy : Barclays raises target price to C$37 from C$35; rating “equal weight”
Westshore Terminals Investment : BMO cuts target price to C$13 from C$15; rating “market perform”
Wi-Lan Inc : Canaccord Genuity raises rating to “speculative buy” from “hold”
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Payrolls benchmark SA for 12M: Prior 91,000
0830 Non-Farm payrolls for Jan: Expected 190,000; Prior 292,000
0830 Private payrolls for Jan: Expected 183,000; Prior 275,000
0830 Manufacturing payrolls for Jan: Expected -2,000; Prior 8,000
0830 Government payrolls for Jan: Prior 17,000
0830 Unemployment rate for Jan: Expected 5.0 pct; Prior 5.0 pct
0830 Average earnings mm for Jan: Expected 0.3 pct; Prior 0.0 pct
0830 Average workweek hrs for Jan: Expected 34.5 hrs; Prior 34.5 hrs
0830 Labor force participation for Jan: Prior 62.6 pct
0830 U6 underemployment for Jan: Prior 9.9 pct
0830 International trade mm for Dec: Expected -$43.0 bln; Prior -$42.4 bln
0830 Payrolls benchmark NSA for 12m: Prior -208,000
1030 ECRI Weekly Index: Prior 130.2
1030 ECRI weely annualized: Prior -2.2 pct
1500 Consumer credit for Dec: Expected 16.00 bln; Prior 13.95 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$1.37) (Reporting by Nikhil Kumar in Bengaluru; Editing by Sriraj Kalluvila)
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