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Bay Street Likely To Open On Cautious Note; U.S. Jobs Data In Focus

Canadian shares are likely to open on a cautious note on Friday due to lingering concerns about global economic growth.

The U.S. Labor Department's monthly jobs data will set the trend for the market early on in the session. With recent economic data from the world's largest economy turning out to be disappointing, a weak jobs data could well render the mood bearish, although it will raise prospects for another rate cut by the Federal Reserve.

Data on Canada's trade balance for the month of August and the Ivey PMI index for September will also set the tone for the market.

On Thursday, the benchmark S&P/TSX Composite Index ended up 58.06 points, or 0.36%, at 16,369.03, after scaling a low of 16,198.09 and a high of 16,369.58 in the session. The index had shed a total of about 2.1% in the previous two sessions.

In company news, Thomson Reuters (TRI.TO) today announced that it has acquired FC Business Intelligence (FCBI), a global business-to-business events specialist. Reuters President Michael Friedenberg said, "This acquisition allows us to combine Reuters globally trusted brand, scale and editorial excellence with FCBI's deep expertise in highly specialized events for professionals."

Asian markets ended mixed on Friday ahead as investors largely made cautious moves ahead of U.S. jobs data.

European stocks were flat to slightly higher amid hopes global central banks will continue to provide additional stimulus to boost sagging economies.

A positive data on Germany's construction activity in August aided sentiment. However, the mood was a bit cautious with the focus on the upcoming U.S. monthly jobs data.

In commodities, crude oil futures were gaining $0.25, or about 0.4%, at $52.70 a barrel.

Gold futures for December were up marginally at $1,515.10 an ounce.

Silver futures for December were declining $0.051, or 0.29%, at $17.625 an ounce, while Copper futures for December were down $0.0140, or 0.55%, at $2.5395 per pound.

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