Futures up Slightly on Trade Optimism

Lundin Gold, CI in Focus

Futures for Canada's main stock index edged up on Friday, as comments from U.S. President Donald Trump that trade talks with China were "moving right along" lifted investor sentiments.

The TSX Composite Index dropped 42.42 points to conclude Thursday at 16,854.92

The Canadian dollar was unchanged at 75.90 cents U.S. early Friday

December futures improved 0.2% Friday.

Australia's Newcrest Mining it had raised its stake in Lundin Gold to 32% with an additional $79.6-million investment as it looks to increase its exposure in Ecuador.

RBC raised the rating on CI Financial Corp to sector perform from underperform

Canaccord Genuity cut the target price on Canadian Western Bank to $34.00 from $36.00

Canaccord Genuity raised the rating on Detour Gold to buy from hold

On the economic slate, Statistics Canada said Canada’s economy lost 71,000 jobs in November, boosting the unemployment rate by 0.4 percentage points to 5.9%. Employment had held steady during October.

ON BAYSTREET

The TSX Venture Exchange docked 2.6 points Thursday to 537.10

ON WALLSTREET

U.S. stock index futures jumped on Friday on the back of U.S. jobs growth that easily topped expectations.

Futures for the Dow Jones Industrials gained 51 points, or 0.2%, Friday to 27,729.

Futures for the S&P 500 tacked on 5.75 points, or 0.2%, at 3,123.50

The NASDAQ Composite acquired 24 points, or 0.3%, to 8,333.25.

The U.S. Labor Department released figures saying the economy added 266,000 jobs in November. Economists polled by Dow Jones expected a gain of 187,000.

Other data slated for release Friday includes consumer sentiment for December, wholesale trade figures for October and the latest reading of consumer credit will all follow slightly later in the session.

Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump.

On Thursday, Trump said the world’s two largest economies were inching closer to a trade deal. His comments come as investors continue to closely monitor the prospect of a so-called phase one trade agreement, with less than 10 days to go before Washington is poised to impose even more tariffs on Chinese goods. Tariffs on another $156 billion in Chinese goods are set to go into effect on Dec. 15.

Overseas, in Japan, the Nikkei 225 gained 0.2% Friday, while in Hong Kong, the Hang Seng Index vaulted 1.1%.

Oil prices slipped 28 cents at $58.15 U.S. a barrel.

Gold prices fell $1.80 to $1,481.30 U.S. an ounce.

Dow Futures Leap on Blockbuster Jobs Report