TSX futures edge lower on weak crude prices ahead of jobs data

Read Time:1 Minute, 29 Second


FILE PHOTO: The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren/File Photo

 

(Reuters) – Futures for Canada’s main stock index inched down on Friday as crude oil prices extended declines, while investors cautiously awaited domestic labor market data.

The economy is expected to have added 10,000 new jobs in February, as per a Reuters survey of analysts, compared with 150,000 job additions in the previous month. The data is due at 8:30 a.m. ET.

March futures on the S&P/TSX index were down 0.3% at 7:10 a.m. ET.

Traders also waited for U.S. February nonfarm payrolls data that could offer more clues about further monetary tightening from the Federal Reserve. [.N]

The Toronto Stock Exchange’s S&P/TSX composite index tumbled to its two-month low on Thursday with heavy-weight financials leading declines. (TO)

Oil prices fell for a fourth session and was heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States hitting fuel demand. [O/R]

Among company news, brokerage BMO downgraded oil services provider Shawcor to “market perform” from “outperform”.

COMMODITIES AT 7:10 a.m. ET

Gold futures: $1,838.3; +0.2% [GOL/]

US crude: $75; -0.9% [O/R]

Brent crude: $80.9; -0.7% [O/R]

U.S. ECONOMIC DATA DUE ON FRIDAY

February non-farm payrolls data due at 8:30 a.m. ET

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report (TO)

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada

Canadian markets directory

($1 = 1.3839 Canadian dollars)

Source

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Your email address will not be published. Required fields are marked *