Flat start Friday

Equities in Toronto opened flat on Friday, as gains in energy shares offset losses in the financial sector.

The S&P/TSX Composite Index dropped 8.98 points to 16,400.18

The Canadian dollar recovered 0.14 cents at 76.93 cents U.S.

Canadian markets are closed on Monday for Civic Holiday.

Enbridge's quarterly profit rose 16.5%, driven by tight leash on costs and strong growth in its oil transportation business.

Enbridge shares gained 59 cents, or 1.3%, to $46.78.

Telus reported a marginal rise in quarterly profit on Friday, helped by higher average monthly bills in its wireless business.

Telus shares docked 60 cents, or 1.3%, to $46.91.

RBC raised the target price on CRH Medical to $5.00 from $4.75. CRH lost six cents, or 1.3%, to $4.41.

Canaccord Genuity raised the target price on Kinaxis to $100.00 from $96.00. Kinaxis shares fell 44 cents to $88.78.

RBC raised the target price on Pembina Pipeline to $54.00 from $52.00. Shares in Pembina nicked ahead three cents to $46.83.

On things macroeconomic, Statistics Canada revealed that this country's merchandise trade deficit with the world narrowed from $2.7 billion in May to $626 million in June, the smallest deficit since January 2017. Exports increased 4.1%, while imports edged down 0.2%

ON BAYSTREET

The TSX Venture Exchange gained 0.64 points to 701.57

Eight of the 12 subgroups were lower, as telecoms, industrials and health-care stocks each lost 0.5%.

The four gainers were led by gold, up 0.4%, information technology, ahead 0.2%, and utilities, inching forward 0.1%.

ON WALLSTREET

American stocks were slightly in the green, as Apple shares declined, pushing the company's market cap below $1 trillion.

The Dow Jones Industrials added on 57.75 points to 25,383.91, as WalMart and DowDuPont outperformed.

The S&P 500 picked up 3.78 points to 2,831, with consumer staples as the best-performing sector.

The NASDAQ gained 5.65 points to 7,808.34, as Apple fell 0.6%. The tech giant rose nearly 3% on Thursday, lifting its market cap above $1 trillion. Apple's gains Thursday lifted the broader market as the S&P 500 closed higher.

The U.S. Labor Department said the stateside economy added 157,000 jobs last month. Economists expected a gain of 190,000.

The headline jobs growth number for July missed expectations, but past months' figures were revised substantially higher. Plus, wage growth met expectations. Jobs growth for June was revised up to 248,000 from 213,000, while wages grew by 2.7% in July on a year-over-year basis.

Investors take a close look at the jobs report every month as they look for clues regarding the pace of the Federal Reserve's future interest rate hikes. The Fed kept interest rates unchanged after a meeting this week, but market expectations for a rate hike in September are at 93.6%.

China said Friday it will slap tariffs on $60 billion in U.S. goods, with charges ranging from 5% to 25%. Many of the goods are agricultural-related, with others on various metals and chemicals.

Prices for the benchmark for the 10-year U.S. Treasury inched up, lowering yields to 2.97% from Thursday’s 2.99%. Treasury prices and yields move in opposite directions

Oil prices docked 24 cents to $68.72 U.S. a barrel.

Gold prices gained $4.40 to $1,224.50 U.S. an ounce.

Related Stories