June 3 (Reuters) - Futures pointed to a higher start for Canada’s main stock index on Friday as metal prices rose and oil prices stayed close to $50 per barrel.
Investors awaited U.S. payroll data, which will be released later in the day, for clues on the timing of the U.S. Federal Reserve’s next interest rate hike.
June futures on the S&P TSX index were up 0.28 percent at 7:15 a.m. ET.
Data on Canada’s trade balance and export and import is due at 8:30 a.m. ET.
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 up 0.05 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.01 percent and Nasdaq 100 e-mini futures were down 0.05 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.
Shareholders of Australian ports and rail freight giant Asciano Ltd voted for a A$9.1 billion ($6.6 billion) buyout by a global consortium led by Canada’s Brookfield Asset Management Inc, leaving the company’s future in the hands of regulators.
COMMODITIES AT 7:15 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 DUE ON FRIDAY
0830 Non-farm payrolls for May: Expected 164,000; Prior 160,000
0830 Private payrolls for May: Expected 152,000; Prior 171,000
0830 Manufacturing payrolls for May: Expected -1,000; Prior 4,000
0830 Government payrolls for May: Prior -11,000
0830 Unemployment rate for May: Expected 4.9 pct; Prior 5.0 pct
0830 Average earnings mm for May: Expected 0.2 pct; Prior 0.3 pct
0830 Average workweek hours for May: Expected 34.5 hrs; Prior 34.5 hrs
0830 Labor force participation for May: Prior 62.8 pct
0830 U6 underemployment for May: Prior 9.7 pct
0830 International trade mm for Apr: Expected -$41.3 bln; Prior -$40.4 bln
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 Kirti Pandey)
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