Futures on Canada’s stock markets pointed to a higher start on Friday as investors digested the release of data on inflation and retail sales.
The S&P/TSX Composite gained 32.26 points to close Thursday at 14,565.83, with September futures shooting up 0.3%
The Canadian dollar faded 0.09 cents to 76.32 cents U.S. early Friday
Husky Energy, Canada's number-three integrated oil company, reported a second-quarter loss compared with a year-earlier profit as production fell due to planned maintenance and the Fort McMurray wildfire in Alberta.
Valeant Pharmaceuticals International said U.S. regulators have raised concerns over a new eye drop manufactured at a Bausch + Lomb facility in Florida.
Barclays raises the price target on Loblaw Companies to $78.00 from $77.00
Canaccord Genuity raised the price target on Rogers Communications to $55.00 from $50.00
Raymond James raised the price target on Westjet Airlines to $22.25 from $20.50
On the economic slate, Statistics Canada reported that consumer price index figures rose 1.5% in the 12 months to June, matching the gain in May. On a seasonally-adjusted monthly basis, the CPI increased 0.2% in June, matching the gain in May.
Moreover, retail sales rose 0.2% to $44.3 billion in May, following a 0.9% increase in April. Sales were up in six of 11 sub-sectors, representing 51% of retail trade
ON BAYSTREET
The TSX Venture Exchange popped 11.44 points Thursday to 766.2
ON WALLSTREET
U.S. stock futures are holding steady, just slightly below record-high levels that were set earlier this week.
Ahead of the opening bell, futures for the Dow Jones Industrials advanced 24 points, or 0.1%, to 18,460, while futures for the S&P 500 gained 4.25, or 0.2%, to 2,162.25. NASDAQ futures hiked 6.25 points, or 0.1%, to 4,644.5.
Shares in Starbucks were slipping pre-market after the popular coffee chain reported slower sales growth in the latest quarter. The company's sales grew 7.3% to $5.2 billion U.S., missing Wall Street expectations.
Meanwhile, shares in Chipotle swung between gains and losses in extended trading after the company reported that quarterly profits were down 82% from last summer due to high-profile E. coli problems.
Shares in Vodafone are rising by about 5% in London after the European mobile operator reported better-than-expected quarterly results.
Southwest Airlines shares were holding steady ahead of the open after the airline canceled 1,150 flights in 24 hours. The trouble was initially caused by a "system outage." Shares in Southwest dropped 11% on Thursday.
Many companies are reporting quarterly results on Friday morning, including American Airlines, General Electric, Honeywell and Moody's.
Looking overseas, European markets were mixed in early trading. A new economic report from IHS Markit has shown a sharp drop in post-Brexit business activity among U.K. service providers and manufacturers.
This raises hopes that the Bank of England will cut interest rates in August. The pound dropped sharply in the wake of the report.
In Asia, most markets closed the week with modest losses.
Oil prices took on 16 cents to $44.91 U.S. a barrel
Gold prices slumped $7.80 at $1,323.20 U.S. an ounce.
