Yahoo Finance CANADA STOCKS-TSX futures edge higher ahead of US jobs report
May 3 (Reuters) - Futures for Canada's main stock index inched up on Friday, lifted by positive corporate updates, as investors await a key jobs report from the U.S. Labor Department later in the day to gauge the direction of global interest rates.
June futures on the S&P/TSX index were up 0.2% at 7:14 a.m. ET (11:14 GMT).
The benchmark index ended higher on Thursday but was set to log a weekly loss.
Markets are squarely focused on U.S. non-farm payrolls data, due at 8:30 a.m. ET, that is expected to show the American economy added 243,000 jobs in April, Reuters poll of economist forecasts, down from 303,000 a month ago.
Materials group, which houses Canada's precious and base metal miners, will be in focus as copper prices rebounded supported by a softer dollar and revisions to forecasts showing diminished supply after mine disruptions.
U.S. stock index futures advanced after better-than-expected earnings from Apple Inc and Amgen, while traders braced for the jobs data for a clearer outlook on the labor market and the interest rate path.
In company news, pipeline operator TC Energy beat first-quarter profit estimates, helped by robust demand for liquefied natural gas (LNG).
Magna International missed analysts' estimates for first-quarter profit and cut its full-year overall sales forecast on Friday, as the auto parts supplier navigates headwinds from supply chain snags.
Meanwhile, Greater Toronto area home sales fell in April for a third straight month and prices crept up, as over two-decade high interest rates kept the lid on housing market recovery in Canada's main metropolitan region.
COMMODITIES AT 7:14 a.m. ET
Gold futures: $2,307.6; -0.1%
US crude: $79.2; +0.3%
Brent crude: $83.98; +0.4%
($1= C$1.3664) (Reporting by Shubham Batra in Bengaluru; Editing by Vijay Kishore)
