Futures for Canada's main stock index inched lower on Friday, following the release of Canada’s gross domestic product data.
The TSX Composite Index gained 13.95 points to close Thursday at 17,114.52, a new all-time high.
The Canadian dollar let go of 0.11 cents to 75.19 cents U.S. early Friday
December futures dipped 0.1% Friday.
Scotiabank raised the target price on Exco Technologies to $8.00 from $7.75
TD Securities raised target price on GDI Integrated Facility Services to $41.00 from $38.00
On the economic slate, Statistics Canada reported that our economy fought its way up in the third quarter. Real gross domestic product grew 0.3%, following a 0.9% increase in the second quarter.
Third-quarter growth was led by higher business investment and increased household spending, boosting final domestic demand by 0.8%. For the individual month of September, GDP edged up 0.1%, as 13 out of 20 industrial sectors increased.
The agency’s industrial product price index edged up by 0.1% in October, primarily due to higher prices for energy and petroleum products.
The raw material price index was down 1.9% during the same month, primarily due to lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange sank 1.5 points to conclude Thursday at 532.31
ON WALLSTREET
U.S. stock index futures were lower Friday morning ahead of a shortened trading session as investors wrapped up a banner month for stocks.
Futures for the Dow Jones Industrials retreated 49 points, or 0.2%, Friday to 28,099.
Futures for the S&P 500 faded 5.25 points, or 0.2%, at 3,148.50.
The NASDAQ Composite docked 20.75 points, or 0.3%, to 8,434.
Friday’s session will end at 1 p.m. EST after the market was closed Thursday due to the Thanksgiving holiday.
The major averages, however, were headed for strong monthly gains despite Friday’s losses. The S&P 500 is up 3.8% through Wednesday’s close and is on pace for its biggest one-month gain since June, when it rallied more than 6%. The Dow is up 4.1%, and NASDAQ has grown 5% for November.
Meanwhile, there’s a focus on the retail sector due to Black Friday sales. Analytics firm ShopperTrak said Black Friday will be the busiest shopping day of the year in the United States.
Such retail giants as Macy’s and Best Buy should command the lion’s share of attention.
Stocks have been on fire this month in large part because of optimism around the U.S.-China trade negotiations. Back in October, President Donald Trump said the two sides had reached a "phase one" trade deal to be signed this month.
But that optimism has taken some hits recently, particularly this week after Trump signed a bill signed legislation supporting protesters in Hong Kong. China’s foreign ministry claimed the U.S. has "sinister intentions" after Trump signed the bill into law.
Overseas, in Japan, the Nikkei 225 dipped 0.5% Friday, while in Hong Kong, the Hang Seng Index plunged 2%.
Oil prices fell four cents at $58.07 U.S. a barrel.
Gold prices slid 60 cents to $1,460.20 U.S. an ounce.
