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CANADA STOCKS-TSX futures flat ahead of key domestic jobs data
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CANADA STOCKS-TSX futures flat ahead of key domestic jobs data
Oct 11, 2024 4:06 AM

Oct 11 (Reuters) - Futures for Canada's main stock index

were flat on Friday as cautious investors awaited key domestic

unemployment data, while the third-quarter earnings season

kicked off on Wall Street.

December futures on the S&P/TSX index were down

0.01% at 6:11 a.m. ET (10:11 GMT), a day after the composite

index hit a record high due to gains in the energy and

materials sectors.

Investors will watch out for Canada's jobs data at 08:30

a.m. ET, where the unemployment rate is expected to rise to 6.7%

in September from 6.6% in August.

A higher unemployment rate could potentially lead the Bank

of Canada to cut interest rates for a fourth time this year.

Traders remain divided about the magnitude of policy

reduction at BoC's policy meeting on October 23. Odds for a

quarter-point cut stand at 48.4%, while bets for a hefty

50-basis point cut are at 51.6%.

The U.S. producer price index data, due later in the day, is

also in focus after a hotter-than-expected September inflation

data solidified bets for a 25-basis-point cut by the Federal

Reserve in November.

The earnings season has begun in the United States, with

major financial companies reporting their quarterly results.

Canada's energy sector could come under pressure tracking

lower oil prices as investors weighed the impact of Hurricane

Milton's damage on U.S. demand against broader supply disruption

in the Middle East.

The materials sector could take its cues from gold prices

that rose against a soft dollar and copper prices that were set

for their biggest weekly decline in five weeks.

In corporate news, Canadian fashion company Aritzia ( ATZAF )

late Thursday reported second-quarter revenue that beat

analysts' expectations.

COMMODITIES

Gold: $2,637.4; +0.3%

US crude: $75.05; -1.1%

Brent crude: $78.57; -1.1%

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 = 1.3761 Canadian dollars)

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