Sept 9 (Reuters) - Canada’s main stock index was set to open lower on Friday following weakness in global markets as investors turned cautious after weak German trade data and a dip in oil prices.
Data showed German exports fell sharply in July, shrinking the overall trade surplus for the fourth consecutive month - something not seen since 1992 - and casting doubt on the strength of the euro zone’s largest economy.
Adding to the jitters, North Korea conducted its fifth and most powerful nuclear test.
Investors in Canada will be looking out for the August employment report due at 8:30 a.m. ET to see whether the labor market can recover some of the 31,200 jobs it unexpectedly lost in July. Economists have forecast an addition of 15,000 jobs in August.
September futures on the S&P TSX index were down 0.17 percent at 7:15 a.m. ET.
Canada’s main stock index edged higher on Thursday as an oil price-driven rally in energy stocks offset broader losses for the market.
Dow Jones Industrial Average e-mini futures were down 0.3 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were down 0.29 percent and Nasdaq 100 e-mini futures were down 0.25 percent.
Canadian newspaper publisher the Globe and Mail offered voluntary buyouts to all staff on Thursday in an effort to “right-size” the business, publisher Philip Crawley said.
Descartes Systems : Barclays raises target price to C$31 from C$30; rating “overweight”
North West Co : CIBC cuts target price to C$30 from C$32
Yamana Gold : Canaccord Genuity raises price target to C$10.50 from C$10; rating “buy”
COMMODITIES AT 7:15 a.m. ET
Gold futures : $1332.6; -0.31 percent
US crude : $46.95; -1.41 percent
Brent crude : $49.25; -1.48 percent
LME 3-month copper : $4658; -0.13 percent
1000 Wholesale inventory, R mm for Jul: Expected 0.0 pct; Prior 0.0 pct
1000 Wholesale sales mm for Jul: Expected 0.2 pct; Prior 1.9 pct
1030 ECRI Weekly Index: Prior 138.4
1030 ECRI weekly annualized: Prior 8.1 pct
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.30) (Reporting By Nikhil Kumar in Bengaluru; Editing by Saumyadeb Chakrabarty)