The Toronto stock market was poised for a weak start, and the U.S. futures markets continued to fall following a U.S. report on GDP that came in below expectations.
The S&P/TSX index advanced 59.08 points to finish Thursday at 12,329.51. Futures traded down 0.4% Friday
The Canadian dollar dipped 0.07 cents to 97.95 cents U.S. early Friday.
Barrick Gold Corp. said the head of its South American operations has resigned, adding the company is shaking up its troubled Pascua-Lama mine with the aim of meeting Chilean regulatory requirements to unfreeze the project.
No major Canadian economic data is scheduled for release today.
ON BAYSTREET
The TSX Venture Exchange gained 12.97 points Thursday to 964.67
ON WALLSTREET
Investors were disappointed by the latest reading on the U.S. economy, which showed the economy grew slower than expected in the first quarter.
Futures for the Dow Industrials faded 47 points, or 0.3%, to 14,606. Futures for the S&P 500 gave up five points, or 0.3%, to 1,576.70, and futures for the NASDAQ fell 10.50 points, or 0.4%, to 2,833.50
Investors continue to parse through mixed earnings reports.
Chevron reported better-than-expected earnings, but revenue fell short of forecasts.
D.R. Horton's stock price surged in pre-market trading after the home builder reported a near doubling of quarterly net income on Friday, riding the wave of the recovering housing market.
Burger King Worldwide reported a slump in revenue, including same-store sales, but an increase in net income.
Starbucks came under pressure after issuing downside guidance for the current quarter and reaffirming its revenue outlook for the year.
J.C. Penney shares surged after hedge fund mogul George Soros said late Thursday that he had taken a 7.9% stake in the ailing retailer.
Amazon shares dipped after the online retailer reported a profit decline.
The U.S. government said GDP grew at an annual pace of 2.5% in the first quarter. That fell short of the 2.8% economists were predicting and up from a measly 0.4% in the fourth quarter of 2012.
European markets were easing back in midday trading, on the heels of three consecutive trading days of significant gains. The Euronext 100 index declined by roughly 1%.
Asian markets ended mixed. The Shanghai Composite declined 1.0% and the Hang Seng added 0.7%.
The Nikkei 225 lost 0.3% after the Bank of Japan said it would maintain its stimulus program. A separate report showed prices fell 0.5% last month in Japan, underscoring the monumental task facing policymakers as they attempt to reverse 15 years of deflation
Oil prices dipped 57 cents to $93.07 U.S. a barrel
Gold prices added $1.10 to $1,463.10 U.S.
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