Canadian stock markets looked to enjoy a slightly higher open, with investors encouraged by Spain's efforts to cut spending in anticipation of an international sovereign aid package.
The S&P/TSX composite index was down 26.91 points to close Thursday at 12,409.25.
The Canadian dollar pulled ahead 0.25 cents Friday morning to 102.62 cents U.S.
Research In Motion Ltd suffered service problems in Europe, just as its key rival Apple Inc started sales of its new iPhone around the world.
The Canadian Auto Workers union said it reached a tentative four-year contract with General Motors Co, after a day of fighting words from union leader Ken Lewenza and hours of grueling negotiations.
The U.S. Committee on Foreign Investment on Thursday approved Loral Space and Communications Inc's move to sell its satellite manufacturing business to rival MacDonald, Dettwiler and Associates Ltd.
On the economic slate, Statistics Canada told us that inflation gained less than many experts projected last month. The Consumer Price Index rose 1.2% in the 12 months to August, following a 1.3% increase in July. The agency also said that, on a seasonally adjusted monthly basis, the Consumer Price Index increased 0.4% in August after decreasing 0.1% in July.
What’s more, wholesale sales fell 0.6% to $49.5 billion in July, following a 0.3% decline in June. Among the seven sub-sectors, five sub-sectors, representing 85% of total sales, reported declines.
ON BAYSTREET
The TSX Venture Exchange weakened 8.63 points to 1,334.89
ON WALLSTREET
A third straight week of gains is in the balance Friday as U.S. investors keep tabs on the global economy and the iPhone 5 launch.
Futures for the Dow Jones Industrials sprang back to life 50 points, or 0.4%, to 13,565, about 30 minutes before the opening bell.
Futures for the S&P 500 gained back 4.70 points, or 0.3%, to 1,458.50, and for the Nasdaq, futures rocketed 11.75 points, or 0.4%, to 2,865
It's been a sluggish week as investors worry about a global growth slowdown. Trading activity has been largely muted as a string of reports signal slowing growth in all parts of the world.
Early Friday, World Trade Organization economists scaled back their forecasts for world trade expansion, though recent moves by central banks around the world to take action were cheered.
In the United States, Friday also marks "quadruple witching," when four types of contracts expire -- market index futures, market index options, stock options and stock futures. While many traders settle out those contracts in the days leading up the expiration, there is still some volatility on the actual day.
Otherwise, investors have little domestic economic data to digest. The day's only report, data on state and regional unemployment for August, is due this morning from the U.S. Bureau of Labor Statistics.
Apple's iPhone 5 goes on sale in U.S. stores Friday and is almost sure to be the company's best seller yet. Apple shares were up slightly in pre-market trading and may open at a new all-time high.
Early in the day, KB Home shares dropped more than 2% even though the home builder reported quarterly earnings of four cents U.S. per share that were contrary to anticipated losses. Shares of Darden Restaurants, which operates chains including Red Lobster and Olive Garden, were up less than 1% after it reported earnings of 85 cents U.S. per share, near expectations.
Shares of business software maker Oracle were up less than 1% a day after the company reported quarterly earnings in line with expectations.
McDonald's shares were also slightly higher early Friday, a day after the fast food company promised to raise its dividend 10% for the fourth quarter.
The Shanghai Composite ended the day 0.1% higher, the Hang Seng in Hong Kong finished up 0.7%, and Japan's Nikkei rose 0.3%.
In Europe, talk that Spain may be gearing up to ask for a bailout kept investors on edge. Britain's FTSE 100 was flat, the DAX in Germany gained 0.3% and France's CAC 40 rose 0.5%.
Oil for October delivery rose 69 cents to $93.12 U.S. a barrel.
Gold futures for December delivery rose $5.60 to $1,775.80 U.S. an ounce.
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