Canadian Stocks Poised For Positive Open On Jobs Data

(RTTNews) - Canadian stocks are likely to open on a positive note on Friday, tracking firm precious metals prices and some encouraging earnings updates. Strong Canadian and U.S. jobs data may also significantly impact the mood.

Data from the Labor Department showed U.S. non-farm payroll employment dropped by 23,000 jobs in July. The economy was expected to add 70,000 jobs in July.

Meanwhile, the unemployment rate edged down to 4.1% in the month from 4.2% in June. The rate was expected to remain unchanged.

Data from Statistics Canada showed employment in Canada climbed by 75,100 jobs in July. The unemployment rate edged down to 6.4% in July, from 6.5% a month earlier.

The Ivey PMI reading for the month of July is due out at 10 AM ET.

Middle East tensions flared again following attacks by the Iran-aligned Houthis on a military camp in Yemen and in Saudi Arabia, a major oil supplier.

Canadian Natural Resources Limited reported a net income of C$4.503 billion, or C$2.15 per share, for the second-quarter, higher than C$2.459 billion, or C$1.17 per share in the same period last year. Excluding items, net income was C$4.568 billion, or C$2.19 per share, compared with C$1.496 billion, or C$0.71 per share a year ago.

Lundin Gold Inc. said it posted a net income of $219.87 million or $0.91 per share, in the second-quarter, compared with $196.73 million or $0.81 per share in the year-ago quarter.