Baystreet.ca - Futures tracking Canada's main stock index edged up on Friday, in the run-up to key U.S. payrolls and domestic employment numbers that could influence interest rate path in both economies.
The TSX regained 21.68 points to close Thursday at 25,073.36.
The Canadian dollar gave back 0.5 cents to 69.39 cents U.S. Friday.
March futures gained 0.2%.
In corporate news, Brookfield was reportedly mulling a takeover bid for Insignia Financial.
Statistics Canada said the economy created 91,000 jobs (+0.4%) in December. The unemployment rate declined 0.1 percentage points to 6.7%.
Building permits in this country decreased by $739.5 million (-5.9%) to $11.7 billion in November.
ON BAYSTREET
The TSX Venture Exchange gained 4.95 points Thursday to 615.68.
ON WALLSTREET
U.S. stock futures fell on Friday as investors await the release of new economic data.
Futures for the Dow Jones Industrials moved backwards 62 points, or 0.1%, to 42,816.
Futures for the S&P 500 Index faded 16.5 points, or 0.3%, to 5,942.75.
Futures for the tech-heavy NASDAQ lost 72.5 points, or 0.3%, to 21,288.25.
All three of the major averages are on track for weekly losses, with the S&P 500 off 0.4% and the NASDAQ Composite down 0.7%. The 30-stock Dow is on pace for a 0.2% decline on the week. The New York Stock Exchange was closed on Thursday to take part in a national day of mourning for late former President Jimmy Carter.
The moves come as Wall Street is gearing up for December’s nonfarm payrolls reading, due for 8:30 a.m. ET. Economists polled by Dow Jones expect to see an increase of 155,000, less than the gain of 227,000 in November’s reading. Additionally, the unemployment rate is projected to remain at 4.2%.
The market does not expect a rate cut from the central bank at its next meeting later this month, with fed funds futures trading data pricing in only about a 7% chance of a quarter-point cut,
In Japan, the Nikkei 225 lost 1.1% Friday, while in Hong Kong, the Hang Seng index handed over 0.9%.
Oil prices gained $2.28 to $76.20 U.S. a barrel.
Gold prices jumped $14.10 to $2,704.90 U.S. an ounce.