June 7, 2019 / 11:26 AM / 13 days ago

CANADA STOCKS-Higher oil prices push TSX futures up

June 7 (Reuters) - Futures for Canada’s main stock index ticked higher on Friday on the back of rising oil prices, as Organization of the Petroleum Exporting Countries (OPEC) and other oil producers edged closer to extending a supply-cutting agreement.

June quarter futures on the S&P/TSX index were up 0.37% at 7:00 a.m. ET.

Canada’s May employment figures and first-quarter industrial capacity utilization data are due at 8:30 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX index closed up 15.14 points, or 0.09%, at 16,227.80.

Dow Jones Industrial Average e-mini futures were up 0.34% at 7:00 a.m. ET, S&P 500 e-mini futures 0.35% and Nasdaq 100 e-mini futures 0.5%.

TOP STORIES

Huawei Chief Financial Officer Meng Wanzhou will challenge her extradition to the United States on fraud charges at hearings set to begin Jan. 20, 2020, court records showed, after her legal team appeared before a Canadian judge.

ANALYST RESEARCH HIGHLIGHTS

Dollarama Inc: Canaccord Genuity raises price target to C$40 from C$37

Saputo Inc: Royal Bank of Canada cuts price target to C$50 from C$52

Just Energy Group Inc: Canadian Imperial Bank of Commerce raises target price to C$5.50 from C$4.50

Canfor Corp: Canadian Imperial Bank of Commerce cuts target price to C$1.25 from C$1.50

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1334.8; -0.37%

US crude: $53.26; +1.27%

Brent crude: $62.5; +1.35%

U.S. ECONOMIC DATA DUE ON FRIDAY

0830 Non-farm payrolls for May: Expected 185,000; Prior 263,000

0830 Private payrolls for May: Expected 175,000; Prior 236,000

0830 Manufacturing payrolls for May: Expected 5,000; Prior 4,000

0830 Government payrolls for May: Prior 27,000

0830 Unemployment rate for May: Expected 3.6%; Prior 3.6%

0830 Average earnings mm for May: Expected 0.3%; Prior 0.2%

0830 Average earnings yy for May: Expected 3.2%; Prior 3.2%

0830 Average workweek hours for May: Expected 34.5 hrs; Prior 34.4 hrs

0830 Labor force partic for May: Prior 62.8%

0830 U6 underemployment for May: Prior 7.3%

1000 Wholesale inventory, R mm for April: Expected 0.7%; Prior 0.7%

1000 Wholesale sales mm for April: Expected 0.0%; Prior 2.3%

1500 Consumer credit for April: Expected $12.00 bln; Prior $10.28 bln

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

$1 = C$1.34 Reporting by Karthick Arvinth in Bengaluru

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