Stock futures pointed to slightly lower opening for stocks in Canada’s largest centre on Friday, as investors awaited inflation data and as criticism of rising prices by U.S. President Donald Trump weighed on oil.
The S&P/TSX Composite Index dropped 75.55 points to conclude Thursday at 15,454.42
The Canadian dollar inched up 0.09 cents to 79.05 cents U.S. early Friday
June futures retreated 0.1% Friday.
Rogers Communications’ first-quarter profit topped analysts’ forecasts as it signed up more wireless postpaid and internet customers. Canaccord Genuity raised the target price on Rogers stock to $69.00 from $66.00
JPMorgan Chase has tested a new blockchain platform for issuing financial instruments with the National Bank of Canada and other large firms, they said, seeking to streamline origination, settlement, interest rate payments and other processes.
Proxy advisory firm Institutional Shareholder Services on Thursday recommended the Crescent Point Energy Corp shareholders vote for activist investor Cation Capital’s two nominations to the oil and gas producer’s board.
On the economic front, Statistics Canada reported that retail trade increased 0.4% in February to $49.8 billion, mostly due to higher sales at new car dealers and general merchandise stores.
The Consumer Price Index rose 2.3% on a year-over-year basis in March, following a 2.2% increase in February. On a seasonally-adjusted monthly basis, the Consumer Price Index was up 0.1% in March, after increasing 0.2% in February.
ON BAYSTREET
The TSX Venture Exchange settled 0.5 points Thursday to 802.10
ON WALLSTREET
Futures were slightly down Friday, after the release of General Electric's quarterly numbers.
Futures for the Dow Jones Industrial Average were negative 30 points, or 0.1%, to 24,607
S&P 500 futures dipped 1.25 points, or 0.1%, to 2,691.75, while futures for the NASDAQ composite index went south 12.75 points, or 0.2%, to 6,767.25
General Electric reported a better-than-expected quarterly profit, sending the stock higher by more than 5%. The company also reaffirmed its 2018 outlook. Honeywell also posted stronger-than-expected earnings on Friday. Its stock rose nearly 2%.
In Japan, the Nikkei 225 dipped 0.1%, but in Hong Kong, the Hang Seng Index skidded 0.9%.
Oil prices slipped 47 cents to $67.86 U.S. per barrel.
Gold prices slumped $4.10 to $1,344.70 U.S. an ounce.
