CANADA STOCKS-TSX futures slip as tech jitters linger ahead of employment data

By Reuters News14 hours ago Updated

Nov 6 (Reuters) - Futures tracking Canada's blue-chip stocks slipped on Friday, as traders remained wary following a sharp technology-led selloff in the previous session, while awaiting key employment data later in the day.

December futures on the S&P/TSX 60 index fell 0.3% at 5:42 a.m. ET (10:42 GMT).

Brent crude fell 0.4% and was set for a sharp weekly fall after the US midterms results raised hopes of easing Middle East conflict O/R
However, Democrats' control of the US Congress fueled fears of tougher oversight of AI and data centers, which wiped nearly $3 trillion off the market value of S&P 500 companies on Thursday MKTS/GLOB
Traders also digested Canada's Prime Minister Mark Carney's second budget, under which windfall oil revenues could be invested in infrastructure and productivity projects over the next five years, while preserving fiscal targets and reducing reliance on the US
The government trimmed its budget deficit forecasts for every fiscal year until 2030/31 and said 2027 growth would be slightly less than initially expected
Separately, the Bank of Canada on Thursday unveiled a new five-year monetary policy framework with the federal finance ministry, which keeps its inflation target unchanged at 2%
Meanwhile, investors are looking ahead to Canada's employment report due later in the day, with a Reuters poll indicating the economy likely added 13,600 jobs last month while the unemployment rate held at 6.5%
Traders are also awaiting US payroll data for further clues on the Federal Reserve's monetary policy path
Canada's main stock index .GSPTSE posted its biggest one-day decline in five months on Thursday as the selloff in US technology shares spilled over to the Canadian market