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Futures Improve to End Week

Gildan in Picture

Futures for Canada's main stock index edged higher on Friday, supported by a rise in gold prices, while investors awaited retail sales data due later in the day for more clues on the strength of the Canadian economy.

The TSX backtracked 145.97 points to close Thursday at 22,200.79.

The Canadian dollar nicked ahead 0.01 cents at 72.92 cents U.S.

June futures were up 0.2% Friday.

In company news, Gildan Activewear said its board of directors resigned, and chief executive Vince Tyra stepped down to be replaced by former top boss Glenn Chamandy.

In matters economic, retail sales decreased 0.2% to $66.4 billion in March.


The TSX Venture Exchange slid 9.49 points, or 1.6%, Thursday to 601.83.


Stock futures were slightly higher on Friday, following the worst session in more than a year for the Dow Jones Industrial Average.

Futures for the Dow Jones Industrials gained 55 points, or 0.1%, to 39,208.

Futures for the S&P 500 gained 16.5 points, or 0.3%, at 5,301.75.

Futures for the NASDAQ Composite tacked on 62 points, or 0.3%, to 18,758.25.

The S&P 500 is tracking for a weekly loss of 0.7%, while the Dow is on pace to drop about 2.4%. The NASDAQ is the outperformer, with a modest gain of 0.3%.

During Thursday’s session, chipmaker Nvidia added more than 9%, propelled by strong guidance in addition to an earnings beat and a 10-for-1 stock split. Nvidia has become a key bellwether for the broader market, and it is the de facto leader of the so-called “Magnificent Seven.”

On Friday, traders will be watching for April’s durable goods report and May’s reading of the University of Michigan’s consumer sentiment index.

In Japan, the Nikkei 225 eased 1.2%, while in Hong Kong, the Hang Seng index lost 1.4%.

Oil prices fell 24 cents to $76.03 U.S. a barrel.

Gold prices brightened $2.50 to $2,339.76 U.S. an ounce.