Early Signs Mixed For Canadian Stocks -- Canadian Commentary

(RTTNews) - Canadian stocks are likely to waver Friday morning, with investors reacting to employment data from either side of the border.

According to data released by Statistics Canada, unemployment rate in August came in at 7.0 percent, unchanged from the preceding month.

Meanwhile, a report from the U.S. Labor Department said the U.S. economy added a much less than expected 142,000 jobs in August, the smallest increase since December 2014.

Economists expected an addition of 230,000 jobs in the month. However, unemployment edged down to 6.1 percent in August, in line with expectations.

The weak jobs report may well prompt the Federal Reserve to keep the interest at current low levels for an extended period.

Investors continue to monitor the situation in Ukraine. Even as Ukraine and Russia are set to announce a ceasefire, pro-Russian separatists and Ukrainian armed forces are reportedly clashing in Donetsk.

On Thursday, the S&P/TSX Composite Index closed down 80.84 points or 0.52 percent at 15,576.79, after scaling a intraday high of 15,674.23 and a low of 15,541.88.

Stantec Inc. (STN.TO) has announced a two-for-one stock split to be effected by way of a stock dividend. Shareholders of record as at the close of business on October 31 will be entitled to receive the stock dividend on the payment date of November 14, the company said Thursday.

Sierra Metals Inc. (SMT.TO) will be in focus after the company said its Chief Financial Officer, Fernando Piccini, has resigned effective 5 September 2014.

In commodities, crude oil futures for October are down marginally at $94.41 a barrel.

Natural gas is up $0.006 or 0.16 percent at $3.825 per million btu.

Gold futures for December are up $6.20 or 0.50 percent at $1,272.70 an ounce.

Silver for December is up $0.044 or 0.23 percent at $19.182 an ounce. Meanwhile, copper is down $0.006 or 0.21 percent at $3.145 per pound.

In economic news from the eurozone, a report from Eurostat showed eurozone GDP remained flat in the second quarter, expanding just 0.2 percent. Year on year, GDP grew 0.7 percent in the second quarter, after seeing a 1 percent expansion in the previous three months.

According to a report from Destatis, German industrial production grew the most since early 2012 in July, rising by a seasonally adjusted 1.9 percent in June. Economists had forecast production growth of 0.4 percent following the original 0.3 percent gain in June.