Aug 8 Canadian stocks looked set to open lower
on Friday, taking a cue from global markets after U.S. President
Barack Obama stoked fears of another drawn out conflict in Iraq
by authorizing targeted air strikes against Islamist rebels.
September futures on the S&P TSX index <0#SXF:> were down
0.07 percent at 0715 ET.
Canadian employment data for July is due at 0830 ET.
Economists expect the labor market to bounce back from June's
unexpected decline, with the unemployment rate holding at 7.1
The TSX index dropped on Thursday as worries about the
escalating crisis in Ukraine fueled declines in most major
Dow Jones Industrial Average e-mini futures were
down 0.23 percent at 0715 ET, while S&P 500 e-mini futures
were down 0.24 percent. Nasdaq 100 e-mini futures
were down 0.27 percent.
(Morning News Call newsletter link.reuters.com/nex49s;
The Day Ahead newsletter link.reuters.com/mex49s)
Auto parts maker Magna International Inc
reported a higher-than-expected rise in quarterly profit and
raised its full-year sales forecast, helped by strong demand in
North America and continued recovery in Europe.
TMX Group Ltd, the operator of the Toronto Stock
Exchange and the TSX Venture Exchange, said it plans to launch a
new business to allow capital raising and the trading of
securities of privately owned entities.
Tekmira Pharmaceutical Corp said the U.S.
Food and Drug Administration had modified its clinical hold
status on Tekmira's experimental Ebola treatment to enable its
potential use in humans infected with the virus.
COMMODITIES AT 0715 ET
Gold futures : $1,318.5; +0.59 pct
US crude : $98.06; +0.74 pct
Brent crude : $106.39; +0.9 pct
LME 3-month copper : $6,977.25; -0.31 pct
ANALYST RESEARCH HIGHLIGHTS
Air Canada : Canaccord Genuity raises target price
to C$13 from C$12
Newalta, Stantec, others: Canaccord
Genuity raises target price
IGM Financial, Avigilon, others: NBF cuts
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Labor costs for Q2: Expected +1.4 pct, prior +5.7 pct
0830 Productivity for Q2: Expected +1.5 pct, prior -3.2 pct
1000 Wholesale inventories mm for June: Expected +0.6 pct,
prior +0.5 pct
1000 Wholesale sales mm for June: Expected +0.5pct, prior
1030 ECRI weekly index: Prior +135.5
1030 ECRI weekly annualized: Prior +4.1 pct
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
(Reporting by Mononshila Deka in Bangalore; Editing by Ted