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Toronto, New York markets set to head higher again ahead of jobs reports(Canadian Press DataFile Via Acquire Media NewsEdge) TORONTO - The Toronto stock market looks set to continue its string of positive sessions ahead of a private-sector report on U.S. employment later in the day and government jobs statistics on Friday. The Canadian dollar is up slightly at 90.73 cents US. It closed Tuesday at 90.65 cents US after climbing 0.19 of a cent. U.S. futures indicate the major indexes are heading up. The Dow Jones industrial futures were up 20 points at 16,469.0, the Nasdaq futures rose 10.5 points to 3,660.8 while the S&P 500 futures were ahead 1.8 points to 1,879.6. Toronto's S&P/TSX composite index ended the Tuesday session ahead 45.24 points to 14,380.55. Markets have been rising since U.S. Federal Reserve chief Janet Yellen indicated the U.S. central bank will keep interest rates low. The S&P 500 ended Tuesday's session at a record 1,885.52 in New York. Investors will be looking for guidance on U.S. and Canadian employment statistics that will be released at the end of the week. The ADP payroll processing firm will release its report on private-sector employment in March before markets open Wednesday. Yellen's statements have apparently outweighed weak manufacturing reports from China, a major customer for many of Canada's commodities. On commodity markets early Wednesday, crude continued to trade below US$100 per barrel. Oil for May delivery traded Wednesday morning at US$99.62, down 12 cents. May copper contracts were ahead three cents at US$3.06 a pound while June bullion contracts were up $3.80 at US$1,283.60 an ounce. In corporate developments, BlackBerry Ltd. (TSX:BB) says it won't renew a licensing agreement with U.S. telecom giant T-Mobile when it expires on April 25. The Waterloo, Ont.-based company says customers network should not see any difference in their service or support but T-Mobile won't sell BlackBerry products after inventories run out. MacDonald, Dettwiler and Associates Ltd. (TSX: MDA) says it has suspended work on ground infrastructure for its communication satellite program in Ukraine due to the country's political instability. MDA expects the work to be delayed from four to six months. Costs associated with the stoppage are yet to be determined. European bourses have also gained ground overnight. London's FTSE 100 index is up 0.23 per cent and the Paris CAC 40 is up 0.02 per cent. In Asia, Tokyo's Nikkei 225 gained 1.04 per cent, Hong Kong's Hang Seng advanced 0.34 per cent and China's Shanghai Composite Index rose 0.56 per cent. © 2014 The Canadian Press. All rights reserved. |