Stock markets in Toronto looked set open lower, hurt by a drop in oil and gold prices, as investors cautiously awaited comments from U.S. Federal Reserve Chairman Ben Bernanke on the possibility of continued monetary easing.
The S&P/TSX composite index fell 41.15 points to end Thursday at 12,543.90, with Friday morning futures off 0.3%.
The Canadian dollar lost 0.07 cents to 99.61 cents U.S. early Thursday.
TMX Group LTD reported a better-than-expected profit for the first quarter and said revenue rose 6%.
Canaccord Genuity raised Algonquin Power & Utilities Corp. to buy from hold and ups target price to $8.50 from $8 citing valuation and dividend yield after the company reported solid first-quarter results.
RBC raised the price target on BCE Inc. to $48 from $47 after the company posted in-line first-quarter operating results, says the company is on track to meet the high-end of consolidated EBITDA outlook for 2013.
On the economic agenda, Statistics Canada reported this morning that employment was little changed in April and the unemployment rate remained at 7.2%.
ON BAYSTREET
The TSX Venture Exchange found its way higher Thursday 0.41 points to 969.73.
ON WALLSTREET
U.S. stock futures were clearly pointing to early gains Friday after a modest pullback during the previous session.
Futures for the Dow Industrials roared ahead 64 points, or 0.4%, to 15,108. Futures for the S&P 500 regained 0.9 points, or 0.1%, to 1,625.50, and futures for the NASDAQ gained 2.5 points, or 0.1%, to 2,960.50.
One expert said that investors will be watching Federal Reserve Chairman Ben Bernanke closely Friday for talk about stimulus as he delivers a speech in Chicago at 9:30 a.m. ET.
Meanwhile, Dell edged up in pre-market trading after investor Carl Icahn and Southeastern Asset Management sent an alternative buyout offer to the PC maker. Icahn also disclosed a 4.52% stake in Dell.
Priceline shares fell after the online travel booker issued a worse-than-expected forecast for second-quarter earnings.
Gap shares rose nearly 5% after the apparel retailer issued strong quarterly guidance.
European markets are firmly in positive territory in midday trading, following strong gains in Asian markets.
In China, Hong Kong's Hang Seng index pushed ahead by 0.5% and Shanghai's composite index added 0.6%
Japan's Nikkei 225 ended the session with a near 3% gain as the Japanese yen fell to a four-year low against the U.S. dollar. Investors continue to welcome moves by the Bank of Japan to boost the nation's economy.
Oil prices dipped $1.86 to $94.53 U.S. a barrel
Gold prices fell $37.70 to $1,430.90 U.S.
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