July 11, 2016 / 11:52 AM / in a year

CANADA STOCKS-Futures higher on U.S. jobs data, Japan stimulus

July 11 (Reuters) - Stock futures pointed to a higher start for Canada’s main stock index on Monday as a strong U.S. monthly jobs report last week boosted investor confidence and fiscal stimulus announced by Japan added to the positive sentiment.

The June payrolls data on Friday assuaged fears that a dismal showing in May was just an aberration and not indicative of weakness in the U.S. labor market.

On Monday, Japanese Prime Minister Shinzo Abe ordered a new round of fiscal stimulus after a crushing election victory over the weekend as evidence mounted the corporate sector was floundering due to weak demand.

Investors also expect China to roll out more stimulus after inflation numbers fell short of expectations.

September futures on the S&P TSX index were up 0.36 percent at 7:30 a.m. ET.

Canada housing starts data is due at 8:15 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index jumped on Friday as resource, railway, industrial and bank stocks gained.

Dow Jones Industrial Average e-mini futures were up 0.44 percent at 7:30 a.m. ET, while S&P 500 e-mini futures were up 0.40 percent and Nasdaq 100 e-mini futures were up 0.56 percent.

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

TOP STORIES

Thomson Reuters Corp said it would sell its intellectual property and science business to private equity firms Onex Corp and Baring Private Equity Asia for $3.55 billion in cash.

COMMODITIES AT 7:30 a.m. ET

Gold futures : $1,359.40; +0.21 pct

US crude : $44.96; -0.99 pct

Brent crude : $46.32; -0.96 pct

LME 3-month copper : $4,770; +1.24 pct

ANALYST RESEARCH HIGHLIGHTS

Canadian Natural Resources Ltd : JP Morgan raises price target to C$46 from C$44

Street Capital Group Inc : Raymond James starts coverage with price target of C$1.65

Suncor Energy Inc : JP Morgan cuts price target to C$38 from C$41

U.S. ECONOMIC DATA DUE ON MONDAY

1000 The Conference Board Employment Trends Index for Jun: Prior 126.8

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 Nikhil Kumar in Bengaluru; Editing by Kirti Pandey)

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