Futures Nose Higher Ahead of Jobs Data

Futures linked to Canada’s main stock index edged higher on Friday as gold prices extended their run, while investor caution ahead of domestic and U.S. jobs data kept further gains in check.

The TSX Composite moved defiantly forward 200.6 points Thursday to 21,794.56.

March futures edged up 0.1% Friday.

The Canadian dollar hiked 0.3 cents to 74.36 cents U.S.

In corporate news, Panama said on Wednesday it had asked First Quantum Minerals to suspend a visitor program launched at the disputed Cobre Panama mine, saying the miner did not consult the government before starting the initiative.

On the economic front, Statistics Canada reports the economy created 41,000 jobs in February. The unemployment rate increased 0.1 percentage points to 5.8%, offsetting a decline in January.


The TSX Venture Exchange edged up 0.62 points Thursday to 575.53.


S&P 500 futures were little changed Friday as traders awaited the release of February’s jobs report.

Futures for the Dow Jones Industrials fumbled 124 points, or 0.3%, to 38,137.

Futures for the S&P 500 sagged seven points, or 0.1%, to 5,117.75.

Futures for the NASDAQ lost 31.5 points, or 0.2%, to 18,535.

As the week draws to a close, the S&P 500 is ahead of 0.4% through Thursday, while the Dow is down by nearly 0.8%. The NASDAQ is off slightly week to date, with a 0.01% decline.

Economists polled by Dow Jones anticipate growth of 198,000 and an unemployment rate of 3.7% — signs of a slowing job market, but one that’s still relatively strong.

Semiconductor manufacturer Broadcom slipped almost 2% after issuing full-year revenue guidance that was in line with analysts’ expectations.

Costco shares dropped 4% on the back of quarterly revenue that missed the Street’s estimates.

In Japan, the Nikkei 225 gained 0.2% Friday, while in Hong Kong, the Hang Seng index hiked 0.8%.

Oil prices faded 54 cents to $78.39 U.S. a barrel.

Gold prices jumped $6.70 to $2,171.30.

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