Before the Bell: Canadian investors watch jobs reports and U.S. tariff ruling.

Global markets were cautiously higher as investors awaited Canadian and U.S. jobs reports and a U.S. Supreme Court ruling on the legality of President Trump’s global tariffs.

Global markets were cautiously higher ahead of December jobs reports in Canada and the United States. Investors were also watching a U.S. Supreme Court decision on the legality of President Donald Trump’s global tariffs, which market participants viewed as a potential influence on trade policy. Oil prices were rising amid concerns about supply from Venezuela and unrest in Iran, and the Canadian dollar was trading weaker against the U.S. dollar. Key points: - The U.S. Supreme Court ruling on the global tariffs was highlighted as a key market focus; the article reports legal experts expect the administration might seek other legal routes if the policy is struck down. - Canada employment data for December was scheduled for 8:30 a.m. ET with the article citing consensus forecasts of a net loss of 5,000 jobs, an unemployment rate of 6.7% and average hourly wages up 3.5% year over year. - The U.S. nonfarm payrolls report for December was also due at 8:30 a.m. ET, with consensus cited at about 55,000 new jobs and the unemployment rate expected to tick down to 4.5%. - Brent and WTI crude were reported up about 1.3%, and the Canadian dollar traded near 72.04–72.15 US cents in early trading. Summary: Markets were described as cautious because both the employment reports and the Supreme Court decision could affect sentiment and policy paths. The immediate items to watch were the scheduled December jobs reports for Canada and the U.S. at 8:30 a.m. ET and the court ruling on tariffs; further outcomes were undetermined at this time.