Futures tracking Canada's blue-chip stocks were subdued on Friday, as investors refrained from placing large bets ahead of crucial U.S. and Canadian jobs reports that could influence monetary policy expectations.
The TSX soared 541.51 points, or 1.5%, to end Thursday’s session at 36,633.12
The Canadian dollar was off 0.9 cents Friday to 72.43 cents U.S.
Futures were muted Friday morning.
Prime Minister Mark Carney said on Thursday, that his government was ready to sign a trade deal with U.S. that benefits both countries.
On the economic slate, the economy lost 42,000 (-0.2%) in August and the unemployment rate was unchanged at 6.4%.
Later on this morning (10 a.m. EDT), the IVEY Purchasing Managers’ Index is released for August.
ON BAYSTREET
The TSX Venture Exchange gained 9.5 points, or 1%, Thursday to 972.
ON WALLSTREET
Stock futures were mixed early Friday as traders looked ahead to August’s big payrolls report.
Futures for the Dow Jones Industrials fell 61 points, or 0.1%, to 53,684.
Futures for the S&P 500 handed over four points, or 0.1%, to 7,758.75.
Futures for the NASDAQ Composite leaped 137.75 points, or 0.5%, to 29,659.
The 30-stock Dow gained more than 600 points, or 1.2%, and posted its best day since Aug. 4. The S&P 500 climbed more than 1%, while the NASDAQ Composite advanced 1.4%.
Stocks are on pace for a winning week. The S&P 500 is on track for a 0.5% advance, while the NASDAQ is on pace for a 0.7% gain. The Dow is heading for a 0.2% jump.
Shares of Lululemon Athletica tanked 18% after the company posted a glum forecast for the current quarter.
Lululemon called for earnings in a range of 93 cents to 98 cents per share on revenue of $2.29 billion to $2.32 billion. Analysts were looking for $2.40 per share and $2.53 billion.
U.S. stocks caught a tailwind as Treasury yields pulled back after Federal Reserve Governor Christopher Waller said he would be “inclined” to support holding rates at their current target range of 3.5% to 3.75% at the central bank’s Sept. 15-16 meeting.
Traders have their eyes on the next market catalyst this week: August’s jobs report, due Friday morning. Economists polled by Dow Jones expect 53,000 nonfarm payrolls were added last month, and they expect the unemployment rate to be 4.1%. This compares to a loss of 23,000 jobs in July.
In Japan, the Nikkei 225 index soared 1.3% Friday, while in Hong Kong, the Hang Seng jumped 1.7%.
Oil prices eased 61 cents to $90.69 U.S. a barrel.
Gold prices slid $25.50 to $4,514.40 U.S an ounce.
