April 9, 2020 / 11:36 AM / 2 months ago

CANADA STOCKS-TSX futures drop ahead of monthly jobs data

Canada’s main stock index futures fell on Thursday, as investors braced for data to gauge the impact of the coronavirus pandemic on the country’s job market, ahead of a long holiday weekend.

Canadian employment data for March is due at 8:30 a.m. ET. The report is expected to show a fall in jobs and an increase in the unemployment rate in March.

June futures on the S&P/TSX index were down 0.21% at 7:00 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX ended 2.29% higher at 13,925.71 on Wednesday.

Dow Jones Industrial Average e-mini futures were up 0.31% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.01% and Nasdaq 100 e-mini futures were down 0.03%.

ANALYST RESEARCH HIGHLIGHTS

Canadian Pacific Railway Ltd: RBC cuts target price to C$352 from C$361

Cogeco Communications: National Bank of Canada cuts target price to C$109 from C$115

Teck Resources Ltd: Scotiabank cuts target price to C$21 from C$26

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1,694.3; +1.21%

US crude: $27.18; +8.33%

Brent crude: $34.53; +5.15%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claims: Expected 5,250,000; Prior 6,648,000

0830 Jobless claims 4-week average: Prior 2,612,000

0830 Continued jobless claims: Expected 8.000 mln; Prior 3.029 mln

0830 PPI final demand yy for Mar: Expected 0.5%; Prior 1.3%

0830 PPI final demand mm for Mar: Expected -0.4%; Prior -0.6%

0830 PPI exfood/energy yy for Mar: Expected 1.2%; Prior 1.4%

0830 PPI exfood/energy mm for Mar: Expected 0.0%; Prior -0.3%

1000 U Mich Sentiment Preliminary for Apr: Expected 75.0; Prior 89.1

1000 Wholesale inventory, R mm for Feb: Expected -0.5%; Prior -0.5%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Amy Caren Daniel

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