Futures tied to Canada's main stock index edged lower on Friday as investors paused after two weeks of record rallies and turned their focus to a potential interest-rate cut by the Bank of Canada next week.
The TSX Composite Index leaped 228.5 points to close Thursday to 29,407.80.
The Canadian dollar backed off 0.05 cents to 72.24 cents U.S.
Futures stepped back 0.1% Friday.
The odds that the BoC will also resume its easing cycle on September 17 rose after data released last Friday showed that Canada's economy shed 65,500 jobs in August, while the unemployment rate climbed to 7.1%.
Additionally, Prime Minister Mark Carney's announcement of five major projects aimed at diversifying the economy and reducing reliance on the U.S., as tariffs take a toll, contributed to Thursday's gains.
The projects will be eligible for fast-track approvals as part of a broader campaign.
Staying in the macroeconomic realm, Statistics Canada reported in July, the total value of building permits issued in Canada edged down $10.8 million (-0.1%) to $11.9 billion.
ON BAYSTREET
The TSX Venture Exchange acquired 8.24 points, or 1%, Thursday to 875.77.
ON WALLSTREET
S&P 500 futures fell slightly on Friday after the market surged to fresh records as investors took signs of weakening jobs and tame inflation to mean the Federal Reserve will lower interest rates next week.
Futures for the Dow Jones Industrials slid 113 points, or 0.2%, to 46,028.
Futures for the much-broader index fell 3.5 points at 6,589.
Futures for the NASDAQ gained 22.5 points, or 0.1%, to 24,040.25.
The NASDAQ is on track for its second winning week in a row, while the Dow is poised to post its first positive week in three.
All three major averages are up about 1.6% week to date. The S&P 500 is on pace for its best weekly performance since early August and its fifth positive week in six.
Shares of Warner Bros. Discovery rose more than 5% in the pre-market on Friday, a day after the stock saw its best day on record.
Futures markets are pricing in a quarter-percentage-point drop at the conclusion of Fed’s Sept. 17 meeting with near certainty.
In Japan, the Nikkei 225 leaped 0.9% to a new record high Friday, while in Hong Kong, the Hang Seng popped 1.2%.
Oil prices strengthened $1.15 to $63.52 U.S. a barrel.
Gold prices brightened $12.60 at $3,686.20 U.S. per ounce.
