Dow Today – TSX futures flat ahead of key U.S. jobs data

Jan 7 (Reuters) – Futures for Canada’s main stock index were subdued on Friday in the run-up to a key U.S. jobs report that could dictate the path of the Federal Reserve’s monetary policy.

March futures on the S&P/TSX index were flat at 7:00 a.m. ET, with investors waiting to see if the job figures alter the pace of interest rate hikes expected from the Fed.

The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) ended 0.15% higher at 21,072.02 on Thursday, rebounding from a two-week low hit the day before.

Statistics Canada is scheduled release domestic jobs data at 08:30 a.m. ET. The Canadian economy likely added 27,500 jobs in December, compared with 153,700 jobs added in November.

The energy sector was poised to open higher as oil prices eyed their biggest weekly gains since mid-December on supply worries fueled by unrest in Kazakhstan and outages in Libya.

Dow e-minis were up 16 points, or 0.04% at 7:00 a.m. ET, while S&P 500 e-minis were up 9.25 points, or 0.2% and Nasdaq 100 e-minis were up 52.5 points, or 0.33%.

The Canadian dollar is expected to strengthen over the coming year as global economic recovery continues from the COVID-19 crisis but gains for the currency could be kept in check by Federal Reserve interest rate hikes, a Reuters poll showed. read more

TOP STORIES

Cameco Corp (CCO.TO) said on Thursday it could resume production of roughly 24 million pounds of uranium annually in North America if needed by the global market due to the political turmoil in Kazakhstan.

GlaxoSmithKline PLC (GSK.L) said on Thursday it has signed agreements with the Canadian government to supply 20,000 more doses of its COVID-19 drug, as the country battles a surge in infections driven by the Omicron variant. read more

ANALYST RESEARCH HIGHLIGHTS

Agnico Eagle Mines Ltd (AEM.TO): National Bank of Canada raises target to C$81 from C$80

Emera Inc (EMA.TO): JP Morgan cuts to “underweight” from “neutral”

Freehold Royalties Ltd (FRU.TO): ATB Capital Markets initiates with outperform rating

COMMODITIES AT 7:00 a.m. ET

Gold futures : $1790.7; +0.08%

US crude : $79.98; +0.65%

Brent crude : $82.61; +0.75%

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Non-farm payrolls for Dec : Expected 400,000; Prior 210,000

0830 Private payrolls for Dec : Expected 365,000; Prior 235,000

0830 Manufacturing payrolls for Dec : Expected 35,000; Prior 31,000

0830 Government payrolls for Dec : Prior -25,000

0830 Unemployment rate for Dec : Expected 4.1%; Prior 4.2%

0830 Average earnings mm for Dec : Expected 0.4%; Prior 0.3%

0830 Average earnings yy for Dec : Expected 0.042; Prior 4.8%

0830 Average workweek hours for Dec : Expected 34.8 hrs; Prior 34.8 hrs

0830 Labor force partic for Dec : Prior 61.8%

0830 U6 underemployment for Dec : Prior 7.8%

1500 Consumer credit for Nov : Expected 19.50 bln; Prior 16.90 bln

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report CA/

Reuters global stocks poll for Canada ,

Canadian markets directory

($1= C$1.27)

Reporting by Amal S in Bengaluru; Editing by Aditya Soni

Our Standards: The Thomson Reuters Trust Principles.