Futures tracking Canada's commodity-heavy stock index edged higher on Friday as gold rose, while investors awaited domestic retail sales data and assessed lingering stress in global bond markets.
The TSX turned downward 36.37 points to close Thursday at 36,365.42
September futures strengthened 0.3% Friday,
The Canadian dollar surged 0.24 cents to 72.80 cents U.S.
In corporate news, Fairfax Financial, a frontrunner to acquire the government's IDBI Bank stake, is set to be allowed up to two years to consolidate its Indian bank holdings to smooth the acquisition.
On the economic calendar, Statistics Canada says June retail trade increased 0.6% to $74.3 billion in June. Sales were up in seven of nine subsectors, led by increases at general merchandise retailers.
ON BAYSTREET
The TSX Venture Exchange pointed upward 1.31 points Thursday to 973.09.
ON WALLSTREET
Stock futures rose early Friday, as investors tried to find their footing following a steep selloff driven by rising Treasury yields.
Futures for the Dow Jones Industrials gained 199 points, or 0.4%, to 53,048.
Futures for the S&P 500 hiked 26 points, or 0.3%, to 7,688.50.
Futures for the NASDAQ Composite leaped 178 points, or 0.6%, to 29,478.50.
During Thursday’s session, the S&P 500 and NASDAQ dropped 0.9% and 1%, respectively. That pullback left the S&P 500 down 1.9% for the week, and the NASDAQ off by 2.5% — putting them on pace to snap a three-week winning streak.
The Dow has fallen 1.8% week to date, on track for back-to-back weekly losses.
In Japan, the Nikkei 225 index slid 0.3% Friday, while in Hong Kong, the Hang Seng rambled ahead 1.2%.
Oil prices took on 30 cents to $87.13 U.S. a barrel.
Gold prices shot higher $78.10 to $4,649.50 U.S an ounce.
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