(Reuters) – Futures for Canada’s main stock index were nearly flat on Friday ahead of domestic and U.S. jobs data that could guide expectations for further interest rate hikes in the countries.
Futures on the S&P/TSX index were up 0.1% at 7:42 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index ended 0.2% higher in the previous session as upbeat corporate earnings offset fresh lows for oil prices that pressured the energy sector. [.TO]
All eyes are on the data, due at 8:30 a.m. ET, expected to show Canadian jobs rose by 20,000 in July after a loss of 43,200 jobs in June. The Bank of Canada last month delivered the first 100-basis-point rate increase among the advanced economies in the current policy-tightening cycle, with analysts saying another big rate hike was likely.
Dow e-minis rose 40 points, or 0.12% and S&P 500 e-minis inched up 1.25 points, or 0.03%.
Nasdaq 100 e-minis slipped 5 points, or 0.04% ahead of U.S. payrolls data. [.N]
TOP STORIES [TOP/CAN]
Suncor Energy Inc posted an over fourfold jump in its second-quarter profit, as the oil producer benefited from a rally in commodity prices, and floated plans to divest assets and slim down its portfolio.
TC Energy Corp said it had struck a deal with a Mexican state utility to develop a $4.5 billion natural gas pipeline.
Canopy Growth Corp reported a quarterly loss, as the cannabis producer incurred an impairment charge of C$1.72 billion ($1.33 billion) related to its operations.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Bombardier: TD Securities raises target price to C$68 from C$60
Canadian Natural Resources Ltd: TD Securities raises target to C$92 from C$91
Trisura Group Ltd: National Bank of Canada raises target price to C$62 from C$60
COMMODITIES AT 7:42 a.m. ET
Gold futures: $1,788.0; -0.2% [GOL/]
US crude: $88.33; -0.2% [O/R]
Brent crude: $94.06; -0.1% [O/R]
U.S. ECONOMIC DATA
0830 Non-farm payrolls for Jul : Expected 250,000; Prior 372,000
0830 Private payrolls for Jul : Expected 230,000; Prior 381,000
0830 Manufacturing payrolls for Jul : Expected 17,000; Prior 29,000
0830 Government payrolls for Jul : Prior -9,000
0830 Unemployment rate for Jul : Expected 3.6%; Prior 3.6%
0830 Average earnings mm for Jul : Expected 0.3%; Prior 0.3%
0830 Average earnings yy for Jul : Expected 4.9%; Prior 5.1%
0830 Average workweek hours for Jul : Expected 34.5 hrs; Prior 34.5 hrs
0830 Labor force partic for Jul : Prior 62.2%
0830 U6 underemployment for Jul : Prior 6.7%
1500 Consumer credit for Jun : Expected 25.00 bln; Prior 22.35 bln
CANADA ECONOMIC DATA
0830 Average hourly wages permanent employee yy for Jul : Prior 5.60%
0830 Employment change for Jul : Expected 20,000; Prior -43,200
0830 Unemployment rate for Jul : Expected 5.0%; Prior 4.9%
0830 Full time employment change SA for Jul : Prior -4,000
0830 Part time employment change SA for Jul : Prior -39,100
0830 Participation rate for Jul : Prior 64.9%
1000 Ivey PMI for Jul : Prior 57.8
1000 Ivey PMI SA for Jul : Prior 62.2
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1= C$1.2886)
(Reporting by Sruthi Shankar in Bengaluru; Editing by Aditya Soni)
