Canada's main stock index looked set to reverse the previous session's gains and open lower on Friday, with investors cautious following the release of softer-than-expected U.S. payrolls data.
The S&P/TSX Composite Index improved 107.32 points, to end Thursday at 12,593.96
The Canadian dollar dipped 0.43 cents to 96.23 cents U.S. early Friday
Fairfax Financial Holdings Ltd, the property and casualty insurer run by investment guru Prem Watsa, on Thursday reported a second-quarter loss due to losses on its bond portfolio.
Mongolia’s prime minister said Turquoise Hill does not need to seek Mongolian parliamentary approval for a $4-billion financing package to fund development of an underground mine at the Oyu Tolgoi copper project
Markets in Toronto will be shuttered Monday for a holiday.
ON BAYSTREET
The TSX Venture Exchange added 3.68 points Thursday to 921.02
ON WALLSTREET
The U.S. government was set to release its monthly report on the labour market this morning.
Economists forecast that the U.S. economy added 180,000 jobs in July, down from 195,000 in June, with the unemployment rate ticking down 0.1% to 7.5%.
Ahead of the opening bell, futures for the Dow Industrials gained 17 points, or 0.1%, to 15,567. Futures for the S&P 500 added 2.30 points, or 0.1%, to 1,702.50, and futures for the NASDAQ tacked on 9.75, or 0.3%, at 3,122.50
Also this morning, the U.S. government will release its monthly report on personal income and spending. Spending is expected to have increased by 0.4% in July and income is expected to have gone up by 0.5%.
At 10 a.m. ET, the U.S. Census Bureau will publish data on factory orders.
In corporate news, Dell shares rose following news reports saying the PC maker may be near a deal with founder Michael Dell and Silver Lake Management.
On the earnings front, Toyota reported a 94% jump in quarterly profit, helped by a weaker yen.
Chevron and Viacom are set to report quarterly results before the opening bell.
After the closing bell, LinkedIn reported better-than-expected results and boosted its full-year forecast. The stock surged in pre-market trading.
AIG shares rallied in pre-market trading after the insurer announced plans to reinstate a dividend and buy back shares.
In Europe, most of the main market indexes edged up in morning trading, though the gains were very small.
The major Asian markets ended the week with gains. Japan's Nikkei 225 index led the way forward with a 3.3% surge as the yen weakened.
Oil prices gave back 31 cents to $107.58 U.S. a barrel
Gold prices toppled $26.20 to $1,285 U.S. an ounce.
