Futures Gain over China-U.S. Uncertainty

BlackBerry, Bombardier in Focus

Futures for Canada's main stock index moved upward on Friday on an uncertainty over the upcoming trade talks between China and the United States.

The S&P/TSX Composite Index struggled into the green 11.76 points to conclude Thursday at 15,144.88

The Canadian dollar slipped 0.06 cents at 75.85 U.S. early Friday

December futures stepped up 0.3% Friday.

BlackBerry said on Friday it will acquire Cylance, an artificial intelligence and cybersecurity company, for $1.4 billion in cash to help expand its QNX unit that makes software for next-generation autonomous cars.

Quebec's securities watchdog said on Thursday it asked Bombardier to halt stock trades under a plan set up to facilitate share sales by certain senior executives at the company.

U.S. automakers and parts suppliers on Thursday warned that President Donald Trump's steel and aluminum tariffs and threatened car tariffs would undermine the benefits of the new deal to modernize the North American Free Trade Agreement, causing widespread job losses.

Barclays cut the target price on Bank of Montreal to $105.00 from $110.00

Barclays cut the target price on Canadian Imperial Bank of Commerce to $130 from $137

Barclays cuts the target price on National Bank of Canada to $65.00 from $69.00

Credit Suisse raised the rating on Pembina Pipeline to outperform from neutral

U.S. Trade Representative Robert Lighthizer on Thursday denied a report that he had told some industry executives that another round of tariffs on Chinese imports had been put on hold as the two nations pursue talks.

On the economic front, Statistics Canada reported that foreign investment in Canadian securities totalled $7.7 billion in September, mainly acquisitions of money market instruments.

At the same time, Canadian investment in foreign securities resumed to reach $10.6 billion, led by purchases of non-US instruments.

Moreover, the agency said, manufacturing sales edged up 0.2% in September to $58.5 billion, following a 0.5% decrease in August.
Sales increased in eight of 21 industries, led by higher sales in the transportation equipment industry.

ON BAYSTREET

The TSX Venture Exchange gained 5.13 points, Thursday to 624.34

ON WALLSTREET

U.S. stock index futures indicated a lower open Friday a decline in semiconductor stocks pressured the overall technology sector.

Futures for the Dow Jones Industrials slid 129 points, or 0.5%, to 25,176

S&P futures dumped 16.5 points, or 0.6%, to 2,718, while the NASDAQ Composite dropped 73.5 points, or 1.1%, to 6,842.

Techs were promised a rough day, after Nvidia reported weaker-than-expected revenue for its previous quarter. The company also posted disappointing guidance, sending the stock down nearly 18% before the bell.

In the previous session, major stock indexes snapped multi-day losing streaks as J.P. Morgan Chase led banks higher and iPhone maker Apple rebounded after dipping into bear market territory earlier this week.

A number of economic data are expected on Friday. Industrial production numbers are expected to be released at 9:15 a.m. ET, followed by a Quarterly Services Report at 10 a.m. ET, a Kansas City Fed Manufacturing Index at 11 a.m. ET and the Baker-Hughes Rig Count at 1:00 p.m. ET.

Investors also fretted over political developments overseas amid heightened fears the U.K. could soon crash out of the European Union without a divorce deal. The British pound suffered its biggest one-day loss against the euro since October 2016 on Thursday, as a flurry of resignations rocked the government of U.K. Prime Minister Theresa May.

Overseas, in Japan, the Nikkei 225 slumped 0.6% Thursday, while in Hong Kong, the Hang Seng index gained 0.3% higher.

Oil prices gained 93 cents to $57.39 U.S. a barrel.

Gold prices poked up $1.20 to $1,216.20 U.S. an ounce.