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Futures Fall Heading into Weekend

Stock futures pointed to a lower opening for Canada's main stock index on Friday ahead of a key U.S. payrolls report, which will shed light on the health of the world's largest economy.

The TSX Composite Index gained 58.06 points to end Thursday at 16,369.03

The Canadian dollar gained 0.14 cents to 75.04 cents U.S. early Friday

December futures were down 0.2% early Friday.

Economically speaking, Statistics Canada reported that Canada's exports rose 1.8% in August, while imports were up 1.0%. As a result, Canada's merchandise trade deficit narrowed from $1.4 billion in July to $955 million in August.

Later this morning (10 a.m. ET), Western University's IVEY School of Business is slated to come with its Purchasing Managers' Index for September.

ON BAYSTREET

The TSX Venture Exchange gained 2.94 points to 557.78

ON WALLSTREET

U.S. stock index futures indicated a lower open on Friday morning as investors digested the release of the latest monthly U.S. jobs report.

Futures for the Dow Jones Industrials shed 73 points, or 0.3%, early Friday to 26,107

Futures for the S&P 500 fell 10.5 points, or 0.4%, at 2,901.25

NASDAQ Composite slid 19.25 points, or 0.3%, to 7,636.75

The report from the U.S. Labor Department showed the economy added 136,000 jobs in September. Economists polled by Dow Jones expected payrolls to have risen by 145,000 jobs.

Disappointment aside, the unemployment rate south of the border fell to a 50-year low of 3.5%.

Investors searched for clues on whether the Federal Reserve will cut rates later this month. Expectations for the Fed to cut rates by 25 basis points are at 87%

Rate-cut expectations surged on Thursday following the release of disappointing data on the U.S. services sector. The increasing hope of lower Fed rates led to a sharp rebound on Wall Street as the Dow recovered from a 335-point deficit to close higher.

Overseas, in Japan, the Nikkei 225 gained 0.3% Friday, while in Hong Kong, the Hang Seng Index lost 1.1%.

Oil prices added 27 cents to $52.72 U.S. a barrel.

Gold prices dropped $1.40 to $1,512.40 U.S. an ounce.

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