Futures for stocks in Canada’s busiest market fell on Friday, as investors digested key domestic employment and wage inflation data for cues on the strength of the labour market that could determine the Bank of Canada's interest rate hike path.
The TSX dumped 81.79 points to close Thursday at 20,597.75.
March futures on the S&P/TSX index slipped 0.3% Friday morning.
The Canadian dollar eked up 0.07 cents to 74.42 cents U.S.
In earnings, Magna International reported a near 80% slump in its quarterly profit, as the auto parts maker struggled with higher costs for labour, energy and from higher engineering costs related to its electrification and self-driving businesses.
Fortis forecast an increase in its five-year capital plan to $46.1 billion in 2027 from $34.1 billion in 2022 and beat analysts' estimates for fourth-quarter profits.
Silvercorp Metals reported a 1% drop in its third-quarter revenue compared to the year earlier, due to a decrease in net realized selling prices for silver, zinc and lead.
On the economic calendar, Statistics Canada said the economy created 150,000 jobs in January, keeping the unemployment rate at 5%.
ON BAYSTREET
The TSX Venture Exchange skidded 7.04 points, or 1.1%, Thursday to 616.41.
ON WALLSTREET
U.S. stock futures were lower Friday morning after a batch of disappointing quarterly reports, as Wall Street heads for a weekly loss.
Futures for the Dow Jones Industrials lost 175 points, or 0.5%, early Friday to 33,559.
Futures for the S&P 500 dipped 28.5 points, or 0.7%, to 4063.25.
Futures for the NASDAQ Composite dropped 132.25 points, or 1.1%, to 12,293.25.
All major averages are on track to end the week with losses. Down 1.3% this week, the S&P 500 is poised to snap its two-week winning streak and post its worst weekly performance since December. The Dow looks to lots 0.7%, and the NASDAQ is on pace to chuck 1.8%.
Ride-hailing platform Lyft tanked more than 30% in premarket trading after a disappointing fiscal fourth-quarter report. Expedia also saw its shares fall by 2% after its earnings and revenue fell below analysts’ expectations.
In Japan, the Nikkei 225 index gained 0.3%, while in Hong Kong, the Hang Seng ditched 2%.
Oil prices pumped $1.41 higher to $79.47 U.S. a barrel.
Gold prices shed $4.40 to $1,894.30 U.S. an ounce.
