Futures Little Changed Surrounding Jobs Data

Apr 05, 2019 (Baystreet.ca via COMTEX) —

Stock futures for Canada’s main stock index were flat on Friday, following keenly awaited employment reports from the United States and Canada.

The S&P/TSX Composite Index gained 31.75 points to close Thursday at 16,311.61

The Canadian dollar faded 0.08 cents to 74.75 cents U.S. early Friday

June futures eked up 0.1% Friday.

Corus Entertainment beat analysts’ estimates for quarterly profit on Friday, driven by a jump in television advertising revenue.

RBC cut the target price on Canfor Pulp Products to $17.00 from $20.00

RBC cut the rating on KP Tissue to “sector perform” from “outperform”

On the economic beat, Statistics Canada said employment held steady in March, keeping the unemployment rate at 5.8%

ON BAYSTREET

The TSX Venture Exchange skidded 1.19 points Thursday to 626.19

ON WALLSTREET

U.S. stock futures traded slightly higher Friday, as investors monitored progress in U.S.-China trade talks and looked ahead to upcoming jobs data.

Futures for the Dow Jones Industrial Average gained 24 points to 26,412

Futures for the S&P 500 picked up 2.75 points, or 0.1%, at 2,885.50

NASDAQ futures added 11.25 points, or 0.2%, to 7,572.75

Elsewhere, job creation stateside posted a solid rebound in March, with non-farm payrolls expanding by 196,000 and the unemployment rate holding steady at 3.8%.

The numbers posted Friday morning by the U.S. Bureau of Labor Statistics were better than the 175,000 Dow Jones estimate and comes after a dismal February that had economists wondering whether the decade-old economic expansion was nearing an end. The unemployment rate met expectations.

Investors continued to digest the latest developments in trade negotiations between Washington and Beijing on Friday. President Donald Trump said Thursday that swift progress had been made, adding “we’ll know over the next four weeks” whether a deal can be reached.

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