Futures for Canada's main stock index rose on Friday tracking U.S. peers after falling for two straight sessions, while investors awaited data on domestic producer prices.
The TSX Composite folded 73.38 points to close Thursday at 19,884.58.
December futures on the S&P/TSX index were up 0.5%.
The Canadian dollar dipped 0.14 cents to 74.93 cents U.S.
Among stocks, Rio Tinto Ltd said it would plow ahead with a $3.3-billion bid to buy the 49% of Canada's Turquoise Hill Resources it does not already own, after it ended talks with dissenting minority shareholders.
It’s a full macroeconomic day, as Statistics Canada said its raw materials price index increased 1.3% on a monthly basis in October, and posted a 9.0% year-over-year increase, while its industrial product price index rose 2.4% on a monthly basis in October, and increased 10.1% year over year
What’s more, the agency said non-resident investors reduced their exposure to Canadian securities by $22.3 billion in September, mainly in the form of federal government debt securities and Canadian shares. Meanwhile, Canadian investors acquired $9.6 billion of foreign securities, led by an unprecedented investment in foreign bonds.
ON BAYSTREET
The TSX Venture Exchange lost 7.73 points, or 1.3%, to 582.57.
ON WALLSTREET
Stock futures rose Friday as investors continued evaluating earnings reports and tougher language from Federal Reserve speakers.
Futures for the Dow Jones Industrials muscled higher 167 points, or 0.5%, to 33,748.
Futures for the S&P 500 advanced 28.25 points, or 0.7%, to 3,983.50.
Futures for the NASDAQ Composite jumped 104.5 points, or 0.9%, to 11,815.
Ross Stores and Palo Alto Networks popped after the two companies posted their latest quarterly results. Investors also appeared to cheer Gap’s most recent results.
JPMorgan analyst Lisa Gill upgraded Walgreens to overweight from neutral, citing optimism around the company’s shift toward a larger health care operation.
Foot Locker shares soared 14% in the premarket after the apparel and footwear retailer beat top and bottom line estimates for its latest quarter, raised its full-year forecast and reported an unexpected rise in comparable store sales.
JD.com reported better than expected quarterly results, as the COVID-related lockdowns in China prompted more consumers to shop online.
Applied Materials beat top and bottom line estimates for its latest quarter, and the maker of semiconductor manufacturing equipment also issued upbeat current quarter guidance. Shares gained 4.4% in the premarket.
Friday’s moves come after a down session on Wall Street after comments from Federal Reserve officials raised concern over tighter U.S. monetary policy.
St. Louis Federal Reserve President James Bullard said Thursday that “the policy rate is not yet in a zone that may be considered sufficiently restrictive.” He suggested that the appropriate zone for the federal funds rate could be in the 5% to 7% range, which is higher than what the market is pricing.
In Japan, the Nikkei 225 dipped 0.1% Friday, while in Hong Kong, the Hang Seng Index fell 0.3%.
Oil prices lost $1.04 to $80.60 U.S. a barrel.
Gold prices dipped 50 cents to $1,762.50 U.S. an ounce.
