(Adds economic data)
Jan 8 (Reuters) - Canadian stock futures extended gains on
Friday after data indicated that the economy added
more-than-expected jobs and oil prices recovered from their
12-year lows.
Canada's economy added 22,800 jobs in December, higher than
the average analyst estimate of 10,000, in part making up for
heavy losses in the previous month, according to data released
by Statistics Canada. The unemployment rate stayed at 7.1
percent last month.
March futures on the S&P TSX index SXFc1 were up 1.10
percent at 8:45 a.m. ET.
Separately, Statistics Canada said that the value of
Canadian building permits issued in November fell 19.6 percent
on widespread declines in the energy-producing province of
Alberta, which had seen a boom in October.
The Toronto Stock Exchange's S&P/TSX composite index slid on
Thursday to its lowest level in nearly two-and-a-half years as
investors worried about China's equities market and oil prices
pushed ever lower.
Dow Jones Industrial Average e-mini futures 1YMc1 were up
1.35 percent at 8:45 a.m. ET, while S&P 500 e-mini futures
Esc1 were up 1.4 percent and Nasdaq 100 e-mini futures NQc1
were up 1.43 percent. .N
(Morning News Call newsletter http://link.reuters.com/nex49s;
The Day Ahead newsletter http://link.reuters.com/mex49s)
TOP STORIES TOP/CAN
U.S. job growth surged in December and employment for the
prior two months was revised sharply higher, suggesting that a
recent manufacturing-led slowdown in economic growth would be
temporary.
The Canadian dollar's plunge to a 12-year low is seen
boosting sales for the country's retailers in 2016 as fewer
shoppers cross the border south, but profit growth will vary
depending on their ability to control import costs and push
through price increases.
TransCanada Corp TRP.TO faces a rocky legal path as it
seeks to overturn U.S. President Barack Obama's denial of its
Keystone XL pipeline or at least recoup some of its lost
investment in the multi-billion dollar project. AT 8:45 a.m. ET COM/WRAP
Gold futures GCc2 : $1,096; -1.06 pct GOL/
US crude CLc1 : $33.61; +1.05 pct O/R
Brent crude LCOc1 : $34.13; +1.13 pct O/R
LME 3-month copper CMCU3 : $4,506; -0.40 pct MET/L
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Jean Coutu Group PJC Inc PJCa.TO : BMO cuts target price to
C$19 from C$20; rating "market perform"
Precision Drilling Corp PD.TO : JP Morgan cuts target price
to C$5 from C$6; rating "neutral"
Silver Wheaton Corp SLW.TO : CIBC raises rating to "sector
outperformer" from "sector performer"
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Non-farm payrolls for Dec: Actual 292,000; Revised
211,000
0830 Private payrolls for Dec: Actual 275,000; Revised
240,000
0830 Manufacturing payrolls for Dec: Actual 8,000; Revised
2,000
0830 Government payrolls for Dec: Actual 17,000; Revised
12,000
0830 Unemployment rate for Dec: Actual 5.0 pct; Prior 5.0
pct
0830 Average earnings mm for Dec: Actual 0.0 pct; Prior 0.2
pct
0830 Average workweek hours for Dec: Actual 34.5 hrs; Prior
34.5 hrs
0830 Labor force participation for Dec: Actual 62.6 pct;
Prior 62.5 pct
0830 U6 Underemployment for Dec: Actual 9.9 pct; Prior 9.9
pct
1000 Wholesale inventories mm for Nov: Expected -0.1 pct;
Prior -0.1 pct
1000 Wholesale sales mm for Nov: Expected 0.0 pct; Prior 0.0
pct
1030 ECRI Weekly Index: Prior 130.9
1030 ECRI weekly annualized: Prior -0.9 pct
1500 Consumer credit for Nov: Expected $18.25 bln; Prior
$15.98 bln
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/ CA/
Reuters global stocks poll for Canada EQUITYPOLL1
EPOLL/CA
Canadian markets directory CANADA
($1= C$1.41)