Feb 5 (Reuters) - Futures for Canada's main stock index rose on Friday, supported by oil prices reaching their highest in a year on economic revival hopes ahead of the monthly jobs report and as producer group OPEC and its allies stuck to the supply tightening policy.
Brent crude LCOc1 futures and U.S. West Texas Intermediate crude CLc1 futures gained 1.09% and 1.01%, respectively. O/R
Brent is on track to rise more than 6% this week. The last time it traded at $60, the pandemic had yet to take hold, economies were open and people were free to travel, meaning demand for gasoline, diesel and jet fuel was much higher.
Record OPEC+ cuts have helped to lift prices from historic lows last year. futures on the S&P/TSX index SXFc1 were up 0.2% at 7:00 a.m. ET.
Data for Canada's employment for January and trade balance for December is due at 8:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.67% higher at 18,035.52 on Thursday. .TO
Dow Jones Industrial Average e-mini futures 1YMc1 was up 0.5% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 added 0.5% and Nasdaq 100 e-mini futures NQc1 rose 0.35%. .N
TOP STORIES TOP/CAN
Canada will succeed in inoculating its population despite "momentary disruptions" in the supply of COVID-19 vaccines and is working closely with the new U.S. administration to fight the disease, Prime Minister Justin Trudeau said. Canadian dollar is expected to rally further over the coming year as a global economic recovery takes hold, and the gains could accelerate if investors perceive the Bank of Canada is preparing to reduce monetary stimulus, strategists say. RESEARCH HIGHLIGHTS RCH/CA
Canada Goose Holdings GOOS.TO : Evercore ISI raises price target to $60 from $40
Lightspeed POS Inc LSPD.TO : Scotiabank raises price target to $76 from $55
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2 : $1,804.9; +0.82% GOL/
US crude CLc1 : $56.81; +1.01% O/R
Brent crude LCOc1 : $59.48; +1.09% O/R
U.S. ECONOMIC DATA DUE ON FRIDAY 0830 Non-farm payrolls for Jan : Expected 50,000; Prior -140,000 0830 Private payrolls for Jan : Expected 50,000; Prior -95,000 0830 Manufacturing payrolls for Jan : Expected 30,000; Prior 38,000 0830 Government payrolls for Jan : Prior -45,000 0830 Unemployment rate for Jan : Expected 6.7%; Prior 6.7% 0830 Average earnings mm for Jan : Expected 0.3%; Prior 0.8% 0830 Average earnings yy for Jan : Expected 5.1%; Prior 5.1% 0830 Average workweek hours for Jan : Expected 34.7 hrs; Prior 34.7 hrs 0830 Labor force partic for Jan : Prior 61.5% 0830 U6 underemployment for Jan : Prior 11.7% 0830 International trade for Dec: Expected -$65.7 bln; Prior -$68.1 bln 0830 Goods trade balance (R) for Dec: Prior -82.47 bln 0830 Payrolls b'mark NSA rev for 2020: Prior -173,000 0830 Payrolls benchmark SA for 2020: Prior -514,000 1500 Consumer credit for Dec: Expected 12.00 bln; Prior 15.27 bln
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($1= C$1.28)