Stock futures pointed to a higher opening for Canada's main stock index on Friday ahead of Donald Trump's inauguration as U.S. President and his speech that could shed some light on economic policy.
The S&P/TSX Composite improved 11.96 points to close Thursday at 15,409.81. Futures poked ahead 0.1%.
The Canadian dollar sank 0.32 cents to 74.74 cents early Friday.
Canadian Pacific Railway on prospects of consolidation in the railroad industry as well as a rebound of uranium producer Cameco Corp.
On the economic calendar, the Consumer Price Index rose 1.5% on a year-over-year basis in December, following a 1.2% increase in November.
On a seasonally-adjusted monthly basis, inflation was up 0.3% in December, after decreasing 0.1% in November.
The agency also said retail sales rose for the fourth consecutive month, edging up 0.2% to $45.2 billion in November.
StatsCan attributes the jump to higher sales at motor vehicle and parts dealers and building material and garden equipment and supplies dealers
ON BAYSTREET
The TSX Venture Exchange eked up 1.46 points Thursday to 793.14
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Friday as traders eyed the inauguration of President-elect Donald Trump, which is now just hours away.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 15 points, or 0.1%, at 19,709. Futures for the S&P 500 picked up 4.75 points, or 0.2%, to 2,266.25. NASDAQ futures acquired 13.5 points, or 0.3%, at 5,067.
Trump will deliver his inauguration speech later today and traders will be keenly anticipating what he will say — and how he says it — as he speaks to the nation as president for the first time.
On the earnings front, General Electric posted mixed quarterly results. SunTrust also posted fourth-quarter results.
European markets were slightly lower while Asian stocks were mixed.
Oil prices hiked 81 cents to $52.18 U.S. a barrel
Gold prices took on 90 cents to $1,202.40 U.S. an ounce.
