Canada's main stock index looked set to open higher on Friday after better-than-expected Chinese GDP data eased concerns of a sharp slowdown in the world's second largest economy and lifted investor sentiment.
The S&P/TSX Composite Index gained 65.91 points to end Thursday at 12,674.73
The Canadian dollar sifted off 0.45 of a cent to 101 cents U.S. Friday morning.
Saskatchewan Premier Brad Wall joined 10 U.S. state governors in urging U.S. President Barack Obama to approve TransCanada Corp's contentious and long-delayed Keystone XL oil pipeline, citing energy-security benefits in both countries.
Australia's Qantas Airways Ltd has placed firm orders for three of Bombardier Inc.’s Q400 NextGen turboprop airplanes.
On the economic beat, Statistics Canada reported this morning that manufacturing sales hiked 1.7% in November to $49.9 billion, a peak that figure hasn’t seen since last May. Sales rose in 12 of 21 industries, representing about two-thirds of the manufacturing sector in this country.
What’s more, there were fewer of us on the pogey in November. StatsCan reported that the number of people receiving regular Employment Insurance benefits in November edged down 4,500, or 0.8%, to 528,000, after little change in October.
ON BAYSTREET
The TSX Venture Exchange recovered 2.95 points Thursday to 1,233.15
ON WALLSTREET
Investors appeared to be taking a step back early Friday amid signs of a rebound in China's economy and ahead of more corporate earnings.
Futures for the Dow Industrials took on seven points to 13,549. Futures for the S&P 500 eked higher 0.80 points to 1,476.50, and futures for the Nasdaq decreased 6.25 points, or 0.2%, to 2,734.25
Investors are still focused on earnings. Shares of General Electric rose more than 3% after the conglomerate issued an upbeat outlook and reported better-than-expected earnings and revenue ahead of the opening bell.
Schlumberger, a major oilfield services provider, reported profit that beat analysts' estimates. Shares ticked up slightly.
Morgan Stanley shares rose 6% after the bank reported earnings that narrowly beat expectations.
It's been a mixed bag for earnings this week, with most of the big banks reporting. JPMorgan Chase and Goldman Sachs issued strong reports, while investors were disappointed by Citigroup and Bank of America
Intel shares sank 6% in premarket trading Friday, a day after the chip maker reported that quarterly profit fell 27% from a year earlier.
Capital One shares fell 7% in premarket trading, following the financial firm's earnings report, which fell short of forecasts.
AT&T shares were down 1% in premarket trading following the company's announcement that it will take a charge of $10 billion U.S. in the fourth quarter related to its pension plan.
Overall, S&P 500 companies are expected to report earnings growth of 3.8% for the last three months of 2012, according to S&P's Capital IQ.
Investors will also be monitoring the ongoing troubles at Boeing, which has been in focus this week due to problems with its new 787 Dreamliners that have prompted authorities around the planet to ground the planes.
In economic news, the University of Michigan will release its consumer sentiment index at 10 a.m. ET.
Asian stocks rallied after China posted stronger-than-expected growth figures, showing its economy expanded at a 7.9% annual rate in the final three months of 2012. The Nikkei surged nearly 3%, helped by a weaker yen.
European markets were mixed in afternoon trading.
Oil prices faded 13 cents to $95.36 cents U.S. a barrel
Gold prices gained 40 cents an ounce to $1,691.20 U.S.
