Critical Materials & Supply Chain▲
Canadian Stocks Set for Positive Open on Strong Jobs Data
Canadian stocks are poised for a positive open on Friday, buoyed by strong domestic and U.S. employment figures and firm precious metals prices. Statistics Canada reported that employment rose by 75,100 jobs in July, while the unemployment rate edged down to 6.4% from 6.5%. In the U.S., non-farm payrolls unexpectedly fell by 23,000 jobs, but the unemployment rate dipped to 4.1% from 4.2%. Canadian Natural Resources posted second-quarter net income of C$4.503 billion, or C$2.15 per share, up from C$2.459 billion a year earlier, while Lundin Gold reported net income of $219.87 million, or $0.91 per share, compared with $196.73 million in the prior-year quarter. Gold futures surged $73.30 to $4,372.90 an ounce, and silver futures gained $2.749 to $64.355 an ounce, though oil prices slipped amid renewed Middle East tensions after Houthi attacks on Saudi Arabia.