Futures for stocks in Canada’s biggest market rose on Friday, with a weaker U.S. dollar supporting a rise in crude prices.
The S&P/TSX Composite Index docked 80.2 points to finish Thursday at 16,204.01
The Canadian dollar spiked 0.37 cents to 81.15 cents U.S. Friday morning.
March futures picked up 0.2% Friday.
National Bank of Canada cut the rating on First Majestic Silver to sector perform from outperform
National Bank of Canada cut the rating on Rogers Communications to sector perform rating from outperform
RBC cut the rating on TSO3 Inc. to sector perform from outperform
On the economic front, Statistics Canada revealed that this country’s consumer price index rose 1.9% on a year-over-year basis in December, following a 2.1% increase in November.
On a seasonally-adjusted monthly basis, the Consumer Price Index was up 0.2% in December.
Annually, the increase in the Consumer Price Index (CPI) was 1.6% in 2017. This increase followed gains of 1.4% in 2016 and 1.1% in 2015.
The TSX Venture Exchange slumped 7.47 points to conclude Thursday at 886.12
U.S. stock index futures rose ahead of the open Friday.
Futures for the Dow Jones Industrials gained 51 points, or 0.2%, to 26,427
S&P 500 futures picked up nine points, or 0.3%, to 2,850.25, while futures on the NASDAQ Composite increased 33 points, or 0.5%, at 6,964.50
On the last trading day of the week, earnings and data are expected to move sentiment. AbbVie, Colgate-Palmolive, Honeywell and Rockwell Collins are set to publish their latest financial figures.
U.S. gross domestic product (GDP) data is set to keep investors on edge.
With the GDP data set to come out at 8:30 a.m. ET, along with the durable goods orders data, investors will be poring over the figures to see if it provides any clues as to how the U.S. economy is faring.
U.S. President Donald Trump is scheduled to speak at the World Economic Forum (WEF) in Davos, Switzerland, on Friday.
While it is not known what Trump will discuss at the annual meeting, analysts have suggested he could mention topics including terrorism, trade, the economy and the "America First" strategy.
Overseas, Japan’s Nikkei 225 index slipped 0.2%, while in Hong Kong, the Hang Seng Index gained 1.5%.
Oil prices dipped two cents to $65.49 U.S. per barrel.
Gold prices fell $13.20 to $1,349.70 U.S. an ounce.