Stock futures pointed to a lower opening for Canada's main stock index as oil prices slipped on concerns that a persistent global glut of crude oil and refined products will impede any recovery
The S&P/TSX Composite gained 20.72 points to close Thursday at 14,514.52
The Canadian dollar gained 0.15 cents to 77.73 cents U.S. early Friday
Brazil may launch a trade challenge against Canada over state funding to Bombardier Inc. that could hurt Brazilian rival Embraer, Foreign Minister Jose Serra said on Thursday.
Serra, a former presidential candidate who took over the ministry two months ago, said a $1-billion investment in Bombardier from the province of Quebec was a "subsidy" and gave the company an unfair advantage against Embraer.
CIBC raises price target on Kirkland Lake Gold Inc to $13 from $12.50 as the company reported second-quarter 2016 production of gold in line with the estimates.
Destiny Media Technologies is out today with Q3 earnings, expecting to break even.
Shaw Communications expects Q3 earnings of 35 cents per share
Economically speaking, Statistics Canada reported manufacturing sales declined 1.0% to $49.9 billion in May, the third decrease in five months.
Meanwhile, the Canadian Real Estate Association was also due out this morning with national home sales for June.
ON BAYSTREET
The TSX Venture Exchange gained 8.1 points Thursday to 757.69
ON WALLSTREET
U.S. stock futures are near breakeven, following a five-day rally, which sent the Dow Jones Industrials and S&P 500 to record highs.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 16 points, or 0.1%, to 18.443, while futures for the S&P 500 eked up 1.75 points, or 0.1%, to 2,159. NASDAQ futures eked up 1.75 points to 4,591.75
Citigroup, Wells Fargo and Infosys are set to report earnings before the open.
The U.S. Census Bureau will release its retail sales report for June this morning.
At the same time, the U.S. Bureau of Labor Statistics is releasing inflation data for June. The May report showed consumer prices were barely rising, up just 0.2%.
European markets are mostly down in early trading, with travel and airline stocks getting hit hard as investors worry that the attack in Nice Thursday night will further deter tourists. Dozens were killed when a truck crashed into a crowd, before the driver emerged and started shooting.
Asian markets mostly closed the day with muted gains.
China's National Bureau of Statistics reported the economy grew 6.7% in the second quarter compared with the same period last year. That is a hair better than the 6.6% forecast in a survey of economists, and unchanged from the first quarter.
However, growth has now slowed to levels last seen during the dark days of the global financial crisis in early 2009.
Oil prices moved ahead 15 cents to $45.83 U.S. a barrel
Gold prices gained $2.70 at $1,334.90 U.S. an ounce.
