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CANADA STOCKS-Futures gain as oil rebounds from sharp losses

Published 2017-03-10, 07:48 a/m
© Reuters.  CANADA STOCKS-Futures gain as oil rebounds from sharp losses
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March 10 (Reuters) - Canadian stock futures were higher on Friday as oil prices pulled back after dropping to their lowest in more than three months, pressured by record U.S. crude inventories.

March futures on the S&P TSX index SXFc1 were up 0.11 percent at 7:15 a.m. ET.

Canadian employment data is due at 8:30 a.m. ET ECONCA . Investors will also keep a watch on the monthly U.S. nonfarm payrolls report, which is due at the same time.

Canada's main stock index ended flat on Thursday as a rebound in energy stocks, led by Canadian Natural Resources CNQ.TO , offset losses for the financial sector. Jones Industrial Average e-mini futures 1YMc1 were up 0.31 percent at 7:15 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.35 percent and Nasdaq 100 e-mini futures NQc1 were up 0.30 percent. .N

(Morning News Call newsletter http://share.thomsonreuters.com/assets/newsletters/Morning_News_Call/MNC_US.pdf ; The Day Ahead newsletter http://share.thomsonreuters.com/assets/newsletters/The_Day_Ahead/TDA_NAM.pdf)

TOP STORIES TOP/CAN

Canadian Prime Minister Justin Trudeau on Thursday repeated his opposition to a U.S. proposal for an import tax, telling energy executives gathered in Houston a levy would hurt both economies. exodus of international players from Canada's costly oil sands is raising fresh doubt over future development prospects for the world's third-largest crude reserves as the region struggles to compete with cheap U.S. shale plays. RESEARCH HIGHLIGHTS RCH/CA

Arizona Mining AZ.TO : Canaccord Genuity initiates coverage with "speculative buy" rating

Descartes Systems Group DSG.TO : Barclays (LON:BARC) raises target price to C$35 from C$34

Dorel Industries Inc DIIb.TO : National Bank Financial cuts target price to C$33 from C$36

COMMODITIES AT 7:15 a.m. ET COM/WRAP

Gold futures GCc2 : $1,196.2; -0.52 pct GOL/

US crude CLc1 : $49.57; +0.59 pct O/R

Brent crude LCOc1 : $52.43; +0.46 pct O/R

LME 3-month copper CMCU3 : $5,722.50; +0.57 pct MET/L

U.S. ECONOMIC DATA DUE ON FRIDAY

08:30 Non-farm payrolls for Feb: Expected 190,000; Prior 227,000

08:30 Private payrolls for Feb: Expected 193,000; Prior 237,000

08:30 Manufacturing payrolls for Feb: Expected 10,000; Prior 5,000

08:30 Government payrolls for Feb: Prior -10,000

08:30 Unemployment rate for Feb: Expected 4.7 pct; Prior 4.8 pct

08:30 Average earnings mm for Feb: Expected 0.3 pct; Prior 0.1 pct

08:30 Average workweek hours for Feb: Expected 34.4 hrs; Prior 34.4 hrs

08:30 Labor force participation for Feb: Prior 62.9 pct

08:30 U6 underemployment for Feb: Prior 9.4 pct

10:30 ECRI Weekly Index: Prior 145.4

10:30 ECRI weekly annualized: Prior 10.2 pct

14:00 Federal budget for Feb: Prior $51.0 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$1.35)

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