Canada’s main stock index prepared for an uncertain open Friday, as jobs data failed to impress.
The S&P/TSX composite index slid 32.25 points to close Thursday at 14,271.92
The Canadian dollar fell 0.77 cents at 90.25 cents U.S. early Friday
On the economic slate, Statistics Canada reported that the economy shed about 7,000 jobs in February, thus keeping the unemployment rate at 7%. There has been little overall employment growth in Canada since August 2013. However, compared with 12 months earlier, employment increased by 95,000, or 0.5%.
Moreover, the agency also said that our merchandise imports declined 1.6% while exports edged up 0.2% in January. Thus, Canada's trade deficit with the world narrowed from $922 million in December to $177 million in January.
ON BAYSTREET
The TSX Venture Exchange grew 10.08 points Thursday to 1,039.36.
ON WALLSTREET
After two consecutive months of disappointing U.S. employment figures, investors took cheer from Friday's February jobs report.
Ahead of the opening bell, futures for the Dow Jones Industrials sprang to life 92 points, or 0.6%, to 16,507. Futures for the S&P 500 picked up 10.50 points, or 0.6%, to 1,886.80, and futures for the NASDAQ picked up 12.75 points, or 0.3%, at 3,734.75
The U.S. economy added 175,000 jobs last month, an improvement from January and ahead of economists' expectations. Meanwhile, the unemployment rate ticked up to 6.7%, from 6.6% the prior month as more Americans joined the labour force.
Aside from the jobs report, investors are also keeping tabs on the latest earnings.
Shares of Foot Locker jumped in pre-market trading after the athletic apparel retailer reported stronger-than-expected results, including a 5.3% jump in same-store sales.
Shares of Big Lots rose after the closeout retail chain slightly better quarterly revenue.
Valero Energy Partners is also on deck to report quarterly results before the opening bell.
And shares in the supermarket chain Safeway fell following news that it will be bought by Albertsons.
Markets were shaky earlier in the week as a political and economic crisis in Ukraine intensified and Russia troops got involved. Tensions between Ukraine and Russia continue, though many investors feel that the worst may be over. International leaders have instituted some sanctions against Russia and offered help to Ukraine as they try to resolve the situation.
European markets declined in morning trading. Asian markets ended mixed. Japan's Nikkei 225 closed with a gain of 0.9% and Hong Kong's Hang Seng index dropped 0.2%.
Oil prices took on 59 cents to $102.15 U.S. a barrel
Gold prices docked nine dollars to $1,343 U.S. an ounce.
