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%
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($1 = 1.3761 Canadian dollars)