Futures Rise Ahead of Jobs Numbers

Futures tied to Canada's main stock index rose on Friday as investors awaited domestic employment figures and monthly payrolls data from the U.S., while signs of easing tensions between Washington and China fueled trade optimism.The TSX Composite Index gained 13.29 points to conclude Thursday at 26,342.29. Futures took on 0.2% Friday. The Canadian dollar demurred 0.15 cents to 73.02 cents U.S. This week, U.S. President Donald Trump doubled tariffs on imports on steel and aluminum; Canada is the largest seller of the metals to the U.S.Canada's Industry Minister Melanie Joly said on Thursday that Prime Minister Mark Carney and Trump are in direct communication as part of Ottawa's bid to persuade Washington to lift tariffs.Meanwhile, a highly-anticipated phone call between Trump and Chinese President Xi Jinping on Thursday, which Trump said led to "a very positive conclusion," offered hope the trade war between the world's two largest economies might start to de-escalate.On the economic slate, Statistics Canada reported Friday the economy created a mere 8,000 jobs last month, raising the unemployment rate 0.1% percentage points to 7.0%. ON BAYSTREET The TSX Venture Exchange sagged 1.16 points to 718.27.ON WALLSTREET Stock market futures rose Friday ahead of a key jobs report that is expected to shed light on the health of the U.S. economy.Futures for the 30-stock index charged ahead 164 points, or 0.4%, to 42,533.Futures for the S&P 500 index took on 25.75 points, or 0.4%, to 5,971.75.Futures for the NASDAQ surged 91.75 points, or 0.4%, to 21,674. The move in futures comes as the major indexes are holding on to modest gains for the week. The S&P 500 has gained 0.5% and Dow is up 0.1%, week to date, while the NASDAQ is up nearly 1%.The May non-farm payrolls report is due out before the opening bell on Friday. Economists expect growth of 125,000 jobs, according to Dow Jones, which would represent a decline from the prior month but likely not enough of one to cause a surge in recession fears.Some recent economic data has pointed to a slowdown in the U.S., raising questions about the impact of the multi-front tariff negotiations and the next steps for the Federal Reserve.Earnings reports could also be a key theme on Friday. Broadcom, Lululemon and Docusign all moved lower in extended trading after releasing their quarterly reports.In Japan, the Nikkei 225 index gained 0.5% Friday, while in Hong Kong, the Hang Seng sank 0.5% Oil prices dipped 0.03 cents to $63.34 U.S. a barrel. Gold prices gained $6.30 to $3,381.40 U.S. an ounce.