August 4, 2017 / 11:37 AM / in 4 months

CANADA STOCKS-Futures little changed ahead of July jobs report

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.

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TOP STORIES

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:

TSX market report

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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