Stock futures pointed to a lower opening for equities in Toronto on Friday, with the U.S. dollar holding on to this week's gains on growing speculation that the U.S. Federal reserve would raise interest rate this month.
The S&P/TSX Composite ended Thursday negative 63.03 points at 15,536.65, with March futures trailing Thursday’s close 0.5%.
The Canadian dollar was unchanged at 74.69 cents U.S. early Friday.
BlackBerry Ltd's head of corporate development and strategy left the technology company in mid-February, the company revealed on Thursday, leaving a leadership gap as it transitions to software from smartphone hardware.
CIBC raised the target price on Canadian Western Bank to $32.00 from $31.00
National Bank Financial raised the target price on Cascades to $13.50 from $12.50
National Bank Financial starts coverage on NewCastle Gold with an outperform rating and a $1.70 target price
ON BAYSTREET
The TSX Venture Exchange collapsed 12.19 points, or 1.5%, Thursday to 809.87
ON WALLSTREET
U.S. stock index futures pointed to a mixed open on Friday as traders looked ahead to comments from Federal Reserve Chair Janet Yellen.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 10 points, or 0.1%, to 21,016. Futures for the S&P 500 docked 3.75 points, or 0.2%, to 2,378.25. NASDAQ futures doffed 9.75 points, or 0.2%, at 5,355.
Yellen is set to speak on the economic outlook at the Executives Club of Chicago at 1:00 p.m. ET.
The likelihood of a rate hike this month has increased dramatically in recent weeks amid improving economic data and hawkish Fed rhetoric.
According to media outlets, market expectations for a rate hike in March were around 77%.
On the data front Markit services PMI is due at 9:45 a.m. ET, with the Institute for Supply Management’s non-manufacturing index set to come out at 10:00 a.m. ET.
In Europe, stocks were appreciably lower on Friday morning, while the Nikkei 225 in Japan turned lower 0.5%.
Oil prices gained 26 cents to $52.87 U.S. per barrel.
Gold prices settled lower $2.40 to $1,230.50 U.S. an ounce.
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