Futures tracking Canada's main stock index were subdued on Friday as investors refrained from making big bets ahead of domestic and U.S. jobs data that will likely offer clues on the path of interest rate hikes by central banks.
The TSX Composite swooned 256.08 points, or 1.3%, to end Thursday at 18,979.01. December futures eked up 0.1% on Friday.
The Canadian dollar acquired 0.16 cents to 72.92 cents U.S.
On the economic slate, Statistics Canada says employment grew but 21,000 in September. The unemployment rate fell 0.2 percentage points to 5.2% as fewer people searched for work.
Elsewhere, Danielle Smith was elected leader of the ruling United Conservative Party in Canada's oil-rich Alberta province on Thursday, after running on promises of greater autonomy, in particular pushing back against federal government policies.
ON BAYSTREET
The TSX Venture Exchange slipped 0.74 points to close Thursday’s session at 621.88.
ON WALLSTREET
Stock futures were mostly weak on Friday morning as investors looked ahead to September’s jobs report for further clues into the Federal Reserve’s tightening campaign.
Futures the Dow Jones Industrials moved ahead 45 points, or 0.2%, to 30,027.
Futures for the S&P 500 eked lower 0.25 points to 3,756.50.
Futures for the NASDAQ Composite fell 39.75 points, or 0.3%, to 11,502.
Advanced Micro Devices’ stock fell in overnight trading after the chipmaker warned its third-quarter revenue would be lower than anticipated. Levi Strauss shares slipped following a cut to its guidance.
Shares of Goldman Sachs rose slightly in Friday pre-market trading after Keefe, Bruyette & Woods upgraded the stock to outperform from market perform. The firm said the Goldman Sachs’ valuation based on tangible book value looks attractive.
The U.S. traded shares of Credit Suisse rose 6% in premarket trading after the investment bank offered to buy back roughly $3 billion of its debt. Credit Suisse is also selling the Savoy Hotel in Zurich.
Thursday’s downdraft comes as investors remain on edge ahead of September’s jobs report slated for release Friday.
The findings could offer further certainty into the Fed’s tightening cycle, with a strong jobs market or upside surprise signaling that the Fed may need a tougher stance to slow the economy and tame surging prices.
Economists surveyed by Dow Jones expect the data to show a 275,000 increase in non-farm payrolls and unemployment to hover at 3.7%.
In Japan, the Nikkei 225 retreated 0.7%, while in Hong Kong, the Hang Seng Index moved backward 1.7%.
Oil prices gained $1.42 to $89.87 U.S. a barrel.
Gold prices flopped $3.30 to $1,717.50 U.S. an ounce.
