May 5 (Reuters) - Futures for Canada's main stock index
rose on Friday as crude prices firmed and investors tracked
upbeat sentiment on Wall Street, outweighing spillover worries
from the U.S. regional bank sell-off.
June futures on the S&P/TSX index were up 0.7% at
7:02 a.m. ET.
U.S. stock index futures rose as upbeat results from Apple
Inc underscored corporate earnings resilience despite a
slowing U.S. economy. Oil prices gained after four sessions of losses, with
expectations of potential supply cuts at the OPEC+ producer
group's next meeting in June providing some price support. The Toronto Stock Exchange's S&P/TSX composite index closed at its four-week low on Thursday, as pressure
on U.S. bank stocks spilled over to the financials sector.
Investors will watch out for domestic employment change and
unemployment data for April due at 8:30 a.m. ET, hoping for more
clues on the impact of monetary tightening.
In company news, Canada's federal environment ministry
opened a formal investigation into a months-long tailings leak
at Imperial Oil Ltd's Kearl oil sands mine in northern
Alberta, signalling a potential prosecution.
Magna International Inc slightly raised its
full-year sales forecast as the Canadian auto parts maker
expects light vehicle production to improve in its two biggest
markets of North America and Europe.
COMMODITIES AT 7:02 a.m. ET
Gold futures : $2,046.6; -0.44% US crude : $70.32; +2.57% Brent crude : $74.27; +2.44% U.S. ECONOMIC DATA DUE ON FRIDAY
Non-farm payrolls data for April at 8:30 a.m. ET
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report Canadian dollar and bonds report Reuters global stocks poll for Canada Canadian markets directory ($1 = 1.3500 Canadian dollars)
(Reporting by Shristi Achar A in Bengaluru; Editing by Shilpi
Majumdar)
