Aug 4 (Reuters) - Futures pointed to a modestly higher opening for Canada’s main stock index on Friday as investors awaited the monthly jobs report.
Canada’s economy is forecast to have added 10,000 jobs in July, slowing down from an unexpected surge in jobs growth the month before and keeping the unemployment rate unchanged at 6.5 percent. The data is due at 8:30 a.m. ET.
September futures on the S&P TSX index were up 0.02 percent at 7:20 a.m. ET.
Canada’s trade deficit is also scheduled for 8:30 a.m. ET and is expected to have widened slightly to C$1.35 billion in June compared with a deficit of C$1.09 billion the month before.
The country’s Ivey Purchasing Managers Index for July is scheduled for release at 10:00 a.m. ET. The seasonally adjusted index came in at 61.6 in June.
Canada’s main stock index fell on Thursday in a broad retreat led by energy stocks as crude prices dropped, although a strong earnings report from Canadian Natural Resources helped that stock buck the trend.
Dow Jones Industrial Average e-mini futures were up 0.2 percent at 7:20 a.m. ET, while S&P 500 e-mini futures were up 0.1 percent and Nasdaq 100 e-mini futures were up 0.14 percent.
Nebraska regulators weighing the fate of TransCanada Corp’s proposed Keystone XL pipeline have ruled that opponents of the project cannot use one of their best arguments against it in final hearings next week: that America does not need the oil.
U.S. lumber mill owners said on Thursday they were “in no hurry” to reach a softwood lumber deal with Canada that fails to limit Canadian producers’ share of the U.S. market to a strict percentage.
ANALYST RESEARCH HIGHLIGHTS
Canadian Natural Resources: National Bank raises target price to C$49 from C$47
IGM Financial Inc: Barclays raises target price by 5 pct to C$41
SNC-Lavalin Group Inc: National Bank cuts target price to C$69 from C$70
COMMODITIES AT 7:20 a.m. ET
Gold futures: $1268.5; +0.06 percent
US crude: $48.84; -0.39 percent
Brent crude: $51.8; -0.4 percent
LME 3-month copper: $6356.5; +0.07 percent
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Non-farm payrolls for Jul: Expected 183,000; Prior 222,000
0830 Private payrolls for Jul: Expected 178,000; Prior 187,000
0830 Manufacturing payrolls for Jul: Expected 5,000; Prior 1,000
0830 Government payrolls for Jul: Prior 35,000
0830 Unemployment rate for Jul: Expected 4.3 pct; Prior 4.4 pct
0830 Average earnings mm for Jul: Expected 0.3 pct; Prior 0.2 pct
0830 Average workweek hours for Jul: Expected 34.5 hrs; Prior 34.5 hrs
0830 Labor force participation for Jul: Prior 62.8 pct
0830 U6 underemployment for Jul: Prior 8.6 pct
0830 Average earnings yy for Jul: Prior 2.50 pct
0830 International trade mm for Jun: Expected -$45.0 bln; Prior -$46.5 bln
0830 Goods trade balance (R) for Jun: Prior -63.86 bln
0900 Dallas fed PCE for Jun: Prior 1.5 pct
1030 ECRI Weekly Index: Prior 144.2
1030 ECRI weekly annualized: Prior 2.8 pct
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
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Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.26) (Reporting by Nikhil Kumar in Bengaluru; Editing by Sai Sachin Ravikumar)
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