Canadian stock futures subdued ahead of U.S. and Canada jobs reports

  • Canadian stock futures remained subdued before U.S. and Canadian employment reports.
  • September S&P/TSX futures were muted by 06:36 a.m. ET amid low trading volumes.
  • The TSX was headed for its first weekly gain in three weeks.

Canadian blue-chip stock futures were subdued on Friday as investors awaited crucial U.S. and Canadian employment reports that could influence monetary policy expectations. September futures on the S&P/TSX index were muted by 06:36 a.m. ET, with trading volumes low. The U.S. report was due before markets opened, while Canada was also scheduled to release jobs data. LSEG data showed markets divided between a Federal Reserve rate increase and no change at its September 15-16 meeting. Rate-hike expectations have shifted as mixed U.S. inflation data complicated the outlook, while Fed Chair Kevin Warsh offered no clear forward guidance. Fed Governor Christopher Waller said recent data showed signs of disinflation (slowing inflation) and that he would favor keeping rates steady if the trend continued. Gold and silver prices were stable, while oil edged lower, leaving mining and energy stocks in focus. Renewed strikes in the Middle East had pushed oil prices and bond yields higher during the week, although yields later retreated from recent highs. The benchmark TSX was on track for a weekly gain, its first in three weeks, with energy stocks poised to outperform. Canadian Prime Minister Mark Carney said Thursday that his government was ready to sign a trade deal with the U.S. that benefits both countries.

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