Toronto's main stock index looked set to open lower as markets remained cautious about the health of the global economy and euro-zone ministers approve a Spanish bank bailout plan.
The S&P/TSX composite index ran up 86.55 points to close Thursday at 11,665.70. Canada stock futures were down 0.8%.
The Canadian dollar dropped half a cent Friday morning to 98.78 cents U.S.
Among stocks to watch this morning, West Fraser Timber Co Ltd reported a second-quarter profit, on high lumber prices and strong demand from Asia.
Stifel cut the price target of Suncor Energy’s U.S.-listed shares to $38 from $42, citing lower price forecast for crude oil, but rates buy on valuation
Economically speaking, Canada's annual inflation sped up in June to 1.5% from 1.2% in May, as higher prices for passenger vehicles and electricity outweighed a drop in gasoline costs, Statistics Canada said on Friday.
ON BAYSTREET
The TSX Venture Exchange added 8.53 points Thursday to 1,190.87. The Nasdaq Canada index picked up 0.97 points to 343.56.
ON WALLSTREET
U.S. stocks head for a weak open Friday, as investors took in a mixed bag of corporate news and results and waited for the latest news out of Europe.
Futures for the Dow Jones erased 69 points, or 0.5%, to 12,811, about 30 minutes before the opening bell. Futures for the S&P 500 ducked back 9.9 points, or 0.7%, to 1,362, and for the Nasdaq, futures lopped off 9.75 points, or 0.4%, to 2,642.50.
General Electric reported earnings ahead of the opening bell that topped estimates but revenue fell short.
Investors had been bracing for a lackluster quarter, but the bulk of corporate results have come in above expectations. Of the 77 S&P 500 companies that had reported earnings through Wednesday, 48 have topped forecasts, according to research from S&P Capital IQ.
Early Friday, entertainment company Viacom reached a "long-term" deal with DirectTV, ending a week-long feud between the two. That means that DirectTV subscribers won't lose access to more than a dozen channels, including MTV, Nick and Comedy Central.
IPOs will also be in focus early Friday. Palo Alto Networks will make its public debut after pricing its initial public offering at $42 U.S. a share -- above its estimated range. Travel site Kayak will also finally start trading. Kayak priced its IPO at $26 U.S. a share.
European stocks were mixed in morning trading. Britain's FTSE 100 and the DAX in Germany each shed 0.8% and France's CAC 40 fell 1.5%.
Asian markets ended mixed. The Shanghai Composite fell 0.7% and Japan's Nikkei dropped 1.4%, while the Hang Seng in Hong Kong added 0.4%.
Oil for August delivery fell 86 cents to $91.80 U.S. a barrel.
Gold futures for August delivery fell $5.50 to $1,574.90 U.S. an ounce.
