January 8, 2016 / 12:35 PM / 2 years ago

CANADA STOCKS-Futures gain as Chinese shares recover

Jan 8 (Reuters) - Stock futures pointed to a higher opening for Canada’s main stock index on Friday after Chinese stocks recovered and oil prices retreated from multi-year lows.

March futures on the S&P TSX index were up 0.48 percent at 7:15 a.m. ET.

Data on employment change and building permits is due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index slid on Thursday to its lowest level in nearly two-and-a-half years as investors worried about China’s equities market and oil prices pushed ever lower.

Dow Jones Industrial Average e-mini futures were up 0.58 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.59 percent and Nasdaq 100 e-mini futures were up 0.77 percent.

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

TOP STORIES

The Canadian dollar’s plunge to a 12-year low is seen boosting sales for the country’s retailers in 2016 as fewer shoppers cross the border south, but profit growth will vary depending on their ability to control import costs and push through price increases.

TransCanada Corp faces a rocky legal path as it seeks to overturn President Barack Obama’s denial of its Keystone XL pipeline or at least recoup some of its lost investment in the multibillion dollar project.

COMMODITIES AT 7:15 a.m. ET

Gold futures : $1,099.30; -0.76 pct

US crude : $33.49; +0.66 pct

Brent crude : $34.06; +0.92 pct

LME 3-month copper : $4,508.50; -0.34 pct

ANALYST RESEARCH HIGHLIGHTS

Jean Coutu Group PJC Inc : BMO cuts target price to C$19 from C$20; rating “market perform”

Precision Drilling Corp : JP Morgan cuts target price to C$5 from C$6; rating “neutral”

Silver Wheaton Corp : CIBC raises rating to “sector outperformer” from “sector performer”

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Non-farm payrolls for Dec: Expected 200,000; Prior 211,000

0830 Private payrolls for Dec: Expected 195,000; Prior 197,000

0830 Manufacturing payrolls for Dec: Expected -1,000; Prior -1,000

0830 Government payrolls for Dec: Prior 14,000

0830 Unemployment rate for Dec: Expected 5.0 pct; Prior 5.0 pct

0830 Average earnings mm for Dec: Expected 0.2 pct; Prior 0.2 pct

0830 Average workweek hours for Dec: Expected 34.5 hrs; Prior 34.5 hrs

0830 Labor force participation for Dec: Prior 62.5 pct

0830 U6 Underemployment for Dec: Prior 9.9 pct

1000 Wholesale inventories mm for Nov: Expected -0.1 pct; Prior -0.1 pct

1000 Wholesale sales mm for Nov: Expected 0.0 pct; Prior 0.0 pct

1030 ECRI Weekly Index: Prior 130.9

1030 ECRI weekly annualized: Prior -0.9 pct

1500 Consumer credit for Nov: Expected $18.25 bln; Prior $15.98 bln

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$1.41) (Reporting by Nikhil Kumar in Bengaluru; Editing by Maju Samuel)

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