Futures pointed to a higher opening for Canada’s main stock index on Friday tracking gains in oil prices, which rose on concerns that Hurricane Harvey could disrupt U.S. oil supplies.
The S&P/TSX Composite Index gained 13 points to close Thursday at 15,076.16. September futures galloped 0.3% on Friday morning.
The Canadian dollar gained 0.07 cents to 79.97 cents U.S. Friday morning.
The hurricane, which may become the biggest storm to hit the U.S. mainland in more than a decade, is forecast to make landfall late Friday or early Saturday between Corpus Christi and Houston - both important oil refining centres.
Unifor and the United Auto Workers said they will meet Foreign Affairs Minister Chrystia Freeland to discuss plans about the next round of North American Free Trade Agreement renegotiations in Mexico.
Canaccord Genuity cut the price target on Canadian Imperial Bank of Commerce to $116.00 from $117.00, with a buy rating
PI Financial cut the target price on Corby Spirit and Wine to $24.00 from $25.50
ON BAYSTREET
The TSX Venture Exchange edged up 1.07 points to 765.35.
ON WALLSTREET
U.S. stock index futures pointed to a slightly higher open on Friday, as investors continued to focus their attention on the monetary policy symposium at Jackson Hole.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 48 points, or 0.2%, to 21,834. Futures for the S&P 500 picked up 7.25 points, or 0.3%, to 2,448. NASDAQ futures picked up 23.75 points, or 0.4%, to 5,864.25
Friday marks the second day of the 2017 Economic Policy Symposium on "Fostering a Dynamic Global Economy" at Jackson Hole, where leading central bankers are meeting.
On the earnings front, Big Lots is set to report its latest figures before the bell.
In data news on Friday, durable goods were set to come out this morning.
In Europe, stocks were posting solid gains in early trade, Japan’s Nikkei 225 catapulted 0.5% and the CSI 300 in Shanghai leaped 1.6%
Oil prices gained 31 cents to $47.74 U.S. per barrel.
Gold prices doffed $1.10 to $1,290.90 U.S. an ounce.
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