North American stock market futures were looking upbeat ahead of Canadian and American government jobs reports that may offer more insight into the state of the economy.
The S&P/TSX composite index ended Thursday down 56.90 points to 14,402.21, even so, Canada's main stock index has risen nearly 6% since the start of the year and sits near levels that haven't been seen since the summer of 2008.
The Canadian dollar gained 0.09 cents to 90.70 cents U.S. early Friday
In the economic docket, Statistics Canada reported this morning that the economy added 43,000 jobs in March. The unemployment rate declined 0.1 percentage points to 6.9%. Overall employment growth in Canada has been subdued since August 2013.
Later on this morning, Western University’s Ivey School of Business puts out its Purchasing Managers’ Index for March.
ON BAYSTREET
The TSX Venture Exchange backtracked 4.33 points Thursday to 1,001.96
ON WALLSTREET
After winter weather clouded the picture last month, investors will be hoping for clearer signals on the health of the economy from the March unemployment report
Ahead of the opening bell, futures for the Dow Jones Industrials climbed 22 points, or 0.1%, to 16,523. Futures for the S&P 500 took on 3.6 points, or 0.2%, to 1,886.60, and futures for the NASDAQ gained 11 points, or 0.3%, to 3,641.75.
CarMax will report earnings before the bell.
The U.S. Labor Department reported this morning that 192,000 jobs were added last month, up from 175,000 jobs added in February.
The report could influence the pace at which the U.S. Federal Reserve continues to withdraw its support for the economy. Fed Chair Janet Yellen said this week that the jobs market was far from healthy.
European markets were firmer in morning trading, and the euro continued to weaken against the dollar after the European Central Bank said Thursday it was considering Fed-style quantitative easing to tackle deflationary pressures in the euro-zone.
Asian markets ended the week mixed. China's benchmark Shanghai Composite rose 0.7%, while stocks in Singapore dropped 0.3%. The Nikkei 225 was little changed at close of trading on Friday.
Oil prices improved 82 cents to $101.11 U.S. a barrel
Gold prices gained nine dollars at $1,293.60 U.S. an ounce.
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