Markets in Canada’s largest centre were headed for a slow beginning to Friday’s session, as investors hoped for a strong end to a somewhat wobbly week, as health-care issues have ebbed and flowed.
The S&P/TSX Composite Index stayed negative 23.26 points to close Thursday’s session at 16,082.09
The Canadian dollar poked ahead 0.07 cents at 78.94 cents U.S. Friday morning.
December futures fell short 0.2% Friday.
TMX Group, Canada’s biggest stock exchange operator, reported a better-than-expected third-quarter profit on Thursday, as cutting costs helped lower operating expenses.
Cameco Corp is not planning further cuts to uranium output “right now” but has the option of lowering production again without jeopardizing supply contracts, its chief executive said on Thursday.
Azeri state oil company Socar’s North American trading division will close its Calgary office in Canada and move all commercial and support functions to Houston in the next three to four months
CIBC cut the rating on Cervus Equipment to neutral from outperformer
CIBC cut the rating on Gibson Energy to underperformer rating
JP Morgan raised the price target on Telus Corp. to $53.00 from $49.00
ON BAYSTREET
The TSX Venture Exchange retreated 1.8 points Wednesday to 794.79
ON WALLSTREET
U.S. stock index futures pointed to a lower open Friday, as investors digested the latest news surrounding the U.S. economy.
Futures for the Dow Jones Industrials faded 30 points, or 0.1%, to 23,386
S&P 500 futures sifted off 6.75 points, or 0.3%, to 2,577.25, while futures on the NASDAQ Composite index dipped 12 points, or 0.2%, to 6,302.50
After a bumper week of corporate earnings, Friday delivered a lighter load than usual. JC Penney released quarterly results that were better than expected, sending the stock 7% higher before the bell.
Meanwhile in data news, consumer sentiment data is set to be released at 10:00 a.m. ET.
A proposed plan by Senate Republicans would push chopping the corporate tax rate from 35% to 20% until 2019. Republicans argue that the reduction will assist in motivating firms to keep their operations within the U.S., boost salaries and be able to employ more people.
Overseas, European stocks were dipped lower, approaching noon on the continent, while Japan’s Nikkei 225 shed 0.8%, while in Hong Kong, the Hang Seng Index hiked 0.9%.
Oil prices inched up two cents at $57.19 U.S. per barrel.
Gold prices slid $2.20 to $1,285.30 U.S. an ounce.
Related Stories
