February 9, 2018 / 12:24 PM / 6 months ago

CANADA STOCKS-Futures lower ahead of jobs report

Feb 9 (Reuters) - Stock futures pointed to a lower opening for Canada’s main stock index on Friday as investors awaited monthly jobs data, a week after a similar U.S. report sparked a week-long sell off.

However, compared with a strong U.S. jobs market, Canadian employment growth is expected to have slowed in January, the report due at 8:30 a.m. ET is expected to show.

Economists polled by Reuters expected that just 10,000 jobs were created last month, with the unemployment rate forecast to have increased 5.8 percent.

March futures on the S&P TSX index were down 0.34 percent at 7:15 a.m. ET.

Canada’s main stock index tumbled on Thursday, ending at its lowest level in nearly five months as the sell-off on Wall Street deepened and as a drop in oil prices hit energy shares.

Dow Jones Industrial Average e-mini futures were down 0.18 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.05 percent and Nasdaq 100 e-mini futures were up 0.21 percent.

(Morning News Call newsletter http: tmsnrt.rs/2fwPLTh; The Day Ahead newsletter http: tmsnrt.rs/2ggOmBi)

TOP STORIES

Canadian regulators on Thursday reiterated their call for listed cannabis producers with U.S. businesses to clearly disclose risks of operating there, and warned of potential punishment if U.S. federal anti-marijuana laws are more strictly enforced.

Canadian police arrested two people on Thursday at a protest over Kinder Morgan Canada Ltd’s Trans Mountain pipeline expansion after the protesters began blocking highway traffic and equipment.

ANALYST RESEARCH HIGHLIGHTS

Canada Goose Holdings Inc: Barclays raises price target to C$50 from C$49‍​‍​

MEG Energy Corp: Barclays raises price target to C$8 from C$7

Suncor Energy Inc: RBC raises price target to C$52 from C$49‍​

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1314; -0.18 pct

US crude: $60.44; -1.16 pct

Brent crude: $64.31; -0.77 pct

LME 3-month copper: $6809.5; -0.52 pct

U.S. ECONOMIC DATA DUE ON FRIDAY

1000 Wholesale inventory, R mm for Dec: Expected 0.2 pct; Prior 0.2 pct

1000 Wholesale sales mm for Dec: Expected 0.6 pct; Prior 1.5 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 Erum Khaled in Bengaluru; Editing by Savio D'Souza

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