March 4 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Friday as oil prices extended gains ahead of the monthly U.S. jobs data.
A Reuters poll of economists forecasts U.S. economy to have added 190,000 jobs last month, with the overall unemployment level staying at an eight-year low of 4.9 percent.
March futures on the S&P TSX index were up 0.33 percent at 7:30 a.m. ET.
Trade balance and labor productivity data are due at 8:30 a.m. ET and Ivey PMI at 10:00 a.m. ET.
Canada’s main stock index hit a 2016 high on Thursday as energy stocks rose despite a petered out oil rally, and other resources stocks gained as commodity prices more generally reflected increased confidence in prospects for global growth.
Dow Jones Industrial Average e-mini futures were up 0.19 percent at 7:15 a.m. ET. S&P 500 e-mini futures were up 0.18 percent and Nasdaq 100 e-mini futures were up 0.33 percent.
Canadian Prime Minister Justin Trudeau persuaded the country’s 10 provinces on Thursday to accept the concept of putting a price on carbon but agreed the specific details could be worked out later.
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1,265.7; +0.6 pct
US crude : $34.65; +0.23 pct
Brent crude : $37.25; +0.49 pct
LME 3-month copper : $4,907.50; +1.08 pct
ANALYST RESEARCH HIGHLIGHTS
Black Diamond Group : RBC cuts target price to C$6.50 from C$7; rating “sector perform”
Canadian Natural Resources : CIBC ups target price to C$40 from C$36; rating “sector outperformer”
SNC-Lavalin Group Inc : CIBC raises target price to C$48 from C$47
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Non-farm payrolls for Feb: Expected 190000; Prior 151000
0830 Private payrolls for Feb: Expected 185000; Prior 158000
0830 Manufacturing payrolls for Feb: Expected 0; Prior 29000
0830 Government payrolls for Feb: Prior -7000
0830 Unemployment rate for Feb: Expected 4.9 pct; Prior 4.9 pct
0830 Average earnings mm for Feb: Expected 0.2 pct; Prior 0.5 pct
0830 Average workweek hours for Feb: Expected 34.6 hrs; Prior 34.6 hrs
0830 Labor force participation for Feb: Prior 62.7 pct
0830 U6 underemployment for Feb: Prior 9.9 pct
0830 International trade mm for Jan: Expected -$44.0 bln; Prior -$43.4 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$1.34) (Reporting by Nikhil Kumar in Bengaluru; Editing by Anil D’Silva)
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