Stock futures pointed to a flat opening for Canada's main stock index on Friday as investors play it safe ahead of U.S. jobs data, awaiting clues on the next U.S. Federal Reserve rate hike.
The S&P/TSX Composite gained a solid 85.96 points to end Thursday at 14,683.91. Early Friday, September futures inched up 0.08%.
The Canadian dollar increased 0.1 cents to 76.42 cents U.S. early Friday.
Canadian yoga wear retailer Lululemon Athletica Inc reported comparable-sales growth that fell short of analyst estimates.
CIBC raised the target price on Bank of Montreal to $90.00 from $88.00
RBC raised the target price on BRP Inc. to $28.00 from $27.00 with an outperform rating
RBC raised the target price on Dollarama to $122.00 from $120.00, with an outperform rating
On the economic front, Statistics Canada reported that Canada's exports increased 3.4% to $42.7 billion in July. Imports edged down 0.1% to $45.2 billion.
As a result, Canada's merchandise trade deficit with the world narrowed from a record $4.0 billion in June to $2.5 billion in July.
ON BAYSTREET
The TSX Venture Exchange regained 8.25 points Thursday to 794
ON WALLSTREET
U.S. stock index futures indicated a slightly higher open Friday as investors digested a weaker-than-expected August jobs report.
Ahead of the opening bell, futures for the Dow Jones Industrials gained two points to 18,397, while futures for the S&P 500 dipped 1.25 points at 2,166. NASDAQ futures gained 5.5 points at 4,783.
The U.S. economy added 151,000 jobs last month, with the unemployment rate coming in at 4.9%.
Economists were forecasting 180,000 non-farm jobs were created in August, and the unemployment rate was expected to fall to 4.8%. The report follows July's 255,000 jobs, and comes after two robust months of hiring removed concerns about an especially weak labour market in May.
Investors were closely viewing the jobs report as they looked for more clues about when the U.S. Federal Reserve may raise rates. Market expectations for a rate hike in September were just 12% following the report.
Other data due Friday include factory orders, which will be released at 10 a.m. ET
European stocks were mostly higher and Asian markets finished the session mixed.
Oil prices added 44 cents to $43.60 U.S. a barrel
Gold prices picked up $2.60 to $1,319.70 U.S. an ounce.
Related Stories
