September 5, 2014 / 12:58 PM / 3 years ago

CANADA STOCKS-TSX set to open lower on weak Canadian, U.S. jobs data

(Updates Canada and U.S. jobs data)

Sept 5 (Reuters) - Stock futures pointed to a lower opening for Canada's main stock index on Friday after data showed that the country's employment declined sharply and U.S. job growth slowed.

September futures on the S&P TSX index <0#SXF:> were down 0.06 percent at 0845 ET.

The Canadian economy unexpectedly lost a net 11,000 jobs in August from July as well as a whopping 111,800 positions from the private sector, Statistics Canada data indicated on Friday.

The jobless rate stayed at 7.0 percent. Analysts forecast that 10,000 positions would be added after the gain of 41,700 in July.

U.S. job growth slowed down sharply in August and more Americans gave up the hunt for work, giving a cautious Federal Reserve more reasons to wait a bit longer before raising interest rates.

Canada's main stock index closed lower on Thursday, hurt by a decline in stocks of gold miners and energy companies as the price of gold fell and oil slipped on a surprise European Central Bank rate cut.

Dow Jones Industrial Average e-mini futures were down 0.04 percent at 0845 ET, while S&P 500 e-mini futures were up 0.01 percent and Nasdaq 100 e-mini futures were up 0.23 percent.

(Morning News Call newsletter link.reuters.com/nex49s; The Day Ahead newsletter link.reuters.com/mex49s)

TOP STORIES

Goldcorp Inc's gold production this year could end up near the bottom end of its forecast range if it is unable to restart output at one of its Mexican mines, the company's chief executive said on Thursday.

Bombardier Inc's troubled CSeries is on the brink of resuming test flights in coming days, a source familiar with the matter said on Thursday.

Canada is likely to choose between two major U.S. firms when it buys a new fleet of jet fighters, excluding two European competitors, according to a source with direct knowledge of the matter.

COMMODITIES AT 0845 ET

Gold futures : $1,263.30; -0.14 percent

US crude : $94.37; -0.1 percent

Brent crude : $101.69; -0.14 percent

LME 3-month copper : $6,925; -0.07 percent

ANALYST RESEARCH HIGHLIGHTS

Alliance Grain Traders : CIBC raises rating to "sector outperformer" from "sector performer"

Aurico Gold Inc : National Bank Financial starts with "outperform" rating

Bankers Petroleum Ltd : Wood & Co cuts rating to "hold" from "buy"

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Non-Farm Payrolls for Aug: Actual +142,000; Prior +209,000

0830 Private Payrolls for Aug: Actual +134,000; Prior +198,000

0830 Manufacturing Payrolls for Aug: Actual +0,000; Prior +28,000

0830 Government Payrolls for Aug: Actual +8,000 ; Prior +11,000

0830 Unemployment Rate for Aug: Actual +6.1 pct; Prior +6.2 pct

0830 Average Earnings mm for Aug: Actual +0.2 pct; Prior +0.0 pct

0830 Average Workweek hrs for Aug: Actual +34.5 hrs; Prior +34.5 hrs

0830 Labor Force Participation for Aug: Actual +62.8 pct; Prior +62.9 pct

0830 U6 Underemployment for Aug: Actual +12.6 pct; Prior +12.2 pct

1030 ECRI Weekly Index: Prior +134.8

1030 ECRI Weekly Annualized: Prior +2.3 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$1.10 Reporting by Samarendra Sahoo in Bangalore; Editing by Saumyadeb Chakrabarty

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