(CHANGES REFLECT CREA NUMBERS FOR SEPTEMBER)
Futures for Canada's main stock index were higher on Friday, tracking its U.S. peers, while investors awaited manufacturing and trade data for August.
The TSX Composite popped 407.35 points, or 2.2%, to close Thursday at 18,613.63.
December futures gathered 0.2% on Friday.
The Canadian dollar dipped 0.24 cents to 72.42 cents U.S.
Among single stocks, Turquoise Hill Resources said its fifth-biggest investor, SailingStone Capital Partners, said that it will vote against Rio Tinto Group's $3.3-billion bid for the company, during a shareholder meeting on Nov. 1.
Friday’s macroeconomic slate is a busy one, with August wholesale trade up 1.4% for August, while manufacturing sales declined 2.0% mainly on lower sales of petroleum and coal, chemical and primary metal products industries.
The Canadian Real Estate Association reported National home sales were down 3.9% on a month-over-month basis in September. Actual (not seasonally-adjusted) monthly activity came in 32.2% below September 2021.
ON BAYSTREET
The TSX Venture Exchange eked higher 1.38 points Thursday to 586.39.
ON WALLSTREET
Stock futures rose Friday as investors turned their attention to big bank earnings after the major averages staged a historic turnaround rally.
Futures the Dow Jones Industrials pushed up 50 points, or 0.2%, to 30,141.
Futures for the S&P 500 eked ahead 4.25 points, or 0.1%, to 3,686.
Futures for the NASDAQ Composite gained 4.75 points to 11,088.50.
JPMorgan Chase and Wells Fargo gained after revenue topped expectations. Morgan Stanley reported a profit miss, sending shares down more than 2% in premarket trading. Citigroup also reported a miss in third-quarter profits.
Dow member UnitedHealth also reported results that beat Wall Street expectations on Friday, sending shares higher.
The outlook for this earnings season is not good. Profit for S&P 500 companies increased a measly 2.4% in the third quarter, according to the latest analyst estimates collected by FactSet, the worst growth since third quarter 2020, the heart of the pandemic.
There’s still more economic data this week, too. September’s retail sales will come out this morning. Later on, investors are looking forward to the latest consumer sentiment figures from the University of Michigan.
In Japan, the Nikkei 225 moved up 3.3% Friday, while in Hong Kong, the Hang Seng Index was positive 1.2%.
Oil prices sank $1.79 to $87.32 U.S. a barrel.
Gold prices dropped $16.60 to $1,660.40 U.S. an ounce.
