Futures tied to Canada's main stock index ticked down on Friday following a record rally and a quarter point interest rate cut by the Bank of Canada this week.
The TSX Composite Index barreled ahead 131.87 points to close Thursday at 29,453.43.
The Canadian dollar inched lower 0.08 cents to 72.43 cents U.S.
Futures moved lower 0.1% Friday.
The TSX has been on a record-setting run this year and has gained over 19% year-to-date, outpacing the U.S. S&P 500 index's almost 13% rise.
On the economic beat, Statistics Canada reported retail sales decreased 0.8% to $69.6 billion in July. Sales were down in eight of nine subsectors and were led by decreases at food and beverage retailers.
ON BAYSTREET
The TSX Venture Exchange recovered 4.38 points Thursday to 879.51.
ON WALLSTREET
Stock futures were little changed Friday following a winning session that sent indexes to new records as the Federal Reserve’s decision to cut interest rates set in investors’ minds.
Futures for the Dow Jones Industrials progressed 12 points to 46,528.
Futures for the S&P index gained 4.75 points, or 0.1%, at 6,698.25
Futures for the NASDAQ added 24.25 points, or 0.1%, to 24,729.75.
The three major averages closed at all-time highs and notched fresh intraday records on Thursday.
Thursday’s moves come a day after the Fed lowered its benchmark overnight lending rate by a quarter percentage point, cutting rates for the first time since December.
The move was widely expected by markets, but stocks had a volatile session on the back of the decision after Fed Chair Jerome Powell in his press conference characterized the decision as a “risk management cut.”
FedEx shares popped 5.8% following a better-than-expected earnings report for the fiscal first quarter. FedEx earned an adjusted $3.83 per share on $22.24 billion in revenue. Analysts polled by LSEG forecasted $3.59 per share and $21.66 billion.
With Thursday’s gains, the Dow and S&P 500 are both on track to finish the week 0.7% higher. The tech-heavy NASDAQ Composite has climbed 1.5%.
In Japan, the Nikkei 225 docked 0.6%, while in Hong Kong, the Hang Seng lost a quarter of one point.
Oil prices dipped 17 cents to $63.40 U.S. a barrel.
Gold prices nosed ahead five dollars at $3,683.30 U.S. per ounce.
