Futures for Canadian main stock index fell on Friday on rising fears of a global trade war after U.S. President Donald Trump announced tariffs on Chinese goods.
The S&P/TSX Composite Index was roughed up 275.35 points, or 1.8%, to end Thursday at 15,399.93
The Canadian dollar nicked up 0.08 cents to 77.41 cents U.S. early Friday
June futures slumped 0.3% Friday.
Malaysia's Petronas said it is one of the producers involved in TransCanada's proposal to expand a pipeline system that would open up more markets for the energy company's gas produced in Western Canada.
Boeing Co said it will not appeal against the U.S. trade commission ruling that allows Canada's Bombardier to sell its newest jets to U.S. airlines without heavy duties.
Trump signed a presidential memorandum on Thursday that could impose tariffs on up to $60 billion U.S. of imports from China, but only after a 30-day consultation period that starts once a list is published.
On the economic front, Statistics Canada reported that the cost of living rose 2.2% on a year-over-year basis in February, following a 1.7% increase in January.
On a seasonally adjusted monthly basis, the Consumer Price Index was up 0.2% in February after increasing 0.5% in January.
Elsewhere, retail sales increased 0.3% in January to $49.9 billion. General merchandise stores were the largest contributors to the increase
ON BAYSTREET
The TSX Venture Exchange stumbled 14.07 points, or 1.7%, Thursday to 817.08
ON WALLSTREET
U.S. stock index futures cut their sharp overnight losses on Friday despite China responding with retaliatory measures to President Donald Trump's intensifying war on Beijing's trade practices.
Futures for the Dow Jones Industrial Average moved higher 17 points, or 0.1%, to 23,980
S&P 500 futures gained 3.5 points, or 0.1%, to 2,646.75, while futures on the NASDAQ Composite doffed 8.75 points, or 0.1%, to 6,683.25
Thursday, the Dow slipped more than 700 points, with Caterpillar, 3M and Boeing the biggest decliners.
Trump pressed ahead with long-promised anti-China charges on Thursday. The U.S. president signed an executive memorandum that will impose tariffs on up to $60 billion in Chinese imports.
In response, China's commerce ministry proposed a list of 128 U.S. products as potential retaliation targets, according to a statement on its website posted Friday morning.
Beijing's ministry said it will take measures against the 128 U.S. goods in two stages if it cannot reach an agreement with Washington, adding that it could also take legal action under World Trade Organization rules.
On the data front, Friday will see durable goods and new home sales data for February released during mid-morning deals.
Meanwhile, European stocks were about 1.1% lower approaching noon on the continent. In Japan, the Nikkei 225 floundered 4.5%, while in Hong Kong, the Hang Seng Index fell 2.5%.
Oil prices gained 36 cents to $64.66 U.S. per barrel.
Gold prices vaulted $18.90 to $1,346.30 U.S. an ounce.
