Canada's main stock index is set to bounce back on Friday, after two straight sessions of losses, tracking a marginal uptick in crude oil prices.
The TSX was in the red 81.7 points to conclude Thursday at 20,417.61.
June futures on the S&P/TSX index had vaulted 0.5% Friday morning.
The Canadian dollar inched up 0.02 cents to 74.09 cents U.S.
Among company news, Air Canada reported a smaller-than-expected quarterly loss as the country's largest airline benefited from resilient travel demand.
Sun Life Financial Inc reported first-quarter profit above analysts' estimates as the country's second-biggest life insurer benefited from strong sales at home and in the U.S.
Oil and gas producer Crescent Point Energy Corp reported a sharp drop in its first-quarter profit.
ON BAYSTREET
The TSX Venture Exchange decreased 5.12 points Thursday to 616.65.
ON WALLSTREET
U.S. stock futures were higher Friday as regional banks rebounded and traders tried to end a volatile week on a high note.
Futures for the Dow Jones Industrials rallied 128 points, or 0.4%, at 33,499.
Futures for the S&P 500 progressed 14.25 points, or 0.3%, to 4,158.
Futures for the NASDAQ Composite strengthened 20 points, or 0.2% to 13,466.50.
As of Thursday’s close, the Dow had dived 1.1%, and the S&P 500 had lost 0.14% this week, each staring down its second straight loss.
However, the NASDAQ is on pace for its third straight positive week, up 0.8%.
Regional banks rose broadly after declining in the previous session. Western Alliance advanced 2.4%, and PacWest gained 3.4%. On Thursday, regional banks dropped broadly after PacWest said its deposits fell sharply last week.
Tesla shares rose 1.7% after Elon Musk said Thursday that he’s stepping down as chief executive at Twitter. He will oversee product at the social media firm.
Investors are also keeping an eye on Washington as concern around debt ceiling negotiations persisted. One outlet reported that a debt ceiling meeting between President Joe Biden and congressional leaders that was set for Friday was postponed to next week.
Investors are anticipating preliminary consumer sentiment data on Friday, set to release after the open. Economists polled by the Dow Jones are expecting a May reading of 63.0, which would be lower than the level of 63.5 in the previous reading.
April import prices are also due out before the open on Friday. Economists are expecting a 0.3% rise last month, compared to the decline of 0.6% the prior month.
In Japan, the Nikkei 225 gained 0.9%, while in Hong Kong, the Hang Seng sank 0.6%.
Oil prices acquired 38 cents to $71.25 U.S. a barrel.
Gold prices dulled $10.80 to $2,009.70 U.S. an ounce.
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