January 6, 2017 / 2:06 PM / 10 months ago

CANADA STOCKS-Futures higher after strong jobs data

(Adds jobs, trade data)

Jan 6 (Reuters) - Canadian stock futures reversed course and pointed to a higher opening for the main stock index on Friday after a report showed that the economy unexpectedly added jobs in December.

The economy added 53,700 jobs in the previous month, Data from Statistics Canada showed, compared with analysts’ forecast of no change in employment.

Another report showed that Canada posted an unexpected trade surplus of C$526 million in November, the first in more than two years.

In the United States, employment increased less than expected in December but a rebound in wages pointed to sustained labor market momentum. This could encourage faster rate hikes by the Federal Reserve this year.

March futures on the S&P TSX index were up 0.02 percent at 8:45 a.m. ET.

Canada’s main stock index extended its new year rally to a third day on Thursday, as gold miners and other materials stocks rose with higher commodity prices.

Dow Jones Industrial Average e-mini futures were up 0.03 percent at 8:45 a.m. ET, while S&P 500 e-mini futures were up 0.06 percent and Nasdaq 100 e-mini futures were up 0.12 percent.

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TOP STORY

Wal-Mart Stores Inc and Visa Inc M reached an agreement to continue offering Visa as a payment option for customers in Canada, the companies said on Thursday.

ANALYST RESEARCH HIGHLIGHTS

Air Canada : CIBC raises target price to C$19.50 from C$17.50

Bombardier Inc : CIBC raises target price to C$2.50 from C$2.25

Telus Corp : Canaccord Genuity raises rating to “buy” from “hold”

COMMODITIES AT 8:45 a.m. ET

Gold futures : $1,177.4; -0.34 pct

US crude : $54.17; +0.76 pct

Brent crude : $57.26; +0.65 pct

LME 3-month copper : $5,567.50; -0.22 pct

U.S. ECONOMIC DATA ON FRIDAY

0830 Non-farm payrolls for Dec: Actual 156,000; Revised 204,000

0830 Private payrolls for Dec: Actual 144,000; Revised 198,000

0830 Manufacturing payrolls for Dec: Actual 17,000; Revised -7,000

0830 Government payrolls for Dec: Actual 12,000; Revised 6,000

0830 Unemployment rate for Dec: Actual 4.7 pct; Prior 4.6 pct

0830 Average earnings mm for Dec: Actual 0.4 pct; Prior -0.1 pct

0830 Average workweek hours for Dec: Actual 34.3 hrs; Revised 34.3 hrs

0830 Labor force participation for Dec: Actual 62.7 pct; Revised 62.76pct

0830 U6 underemployment for Dec: Actual 9.2 pct; Prior 9.3 pct

0830 International trade mm for Nov: Actual -$45.2 bln; Revised -$42.4 bln

U.S. ECONOMIC DATA DUE ON FRIDAY

1000 Durables ex-defense, R mm for Nov: Prior -6.6 pct

1000 Durable goods, R mm for Nov: Prior -4.6 pct

1000 Factory orders mm for Nov: Expected -2.2 pct; Prior 2.7 pct

1000 Durables ex-transport R mm for Nov: Prior 0.5 pct

1000 Nondefense cap ex-air R mm for Nov: Prior 0.9 pct

1000 Factory ex-transport mm for Nov: Prior 0.8 pct

1030 ECRI Weekly Index: Prior 144.0

1030 ECRI weekly annualized: Prior 11.8 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$1.32) (Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)

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