Markets in Toronto saw futures pointing to a higher open on Friday, after investors took comfort in the expectation of extended U.S. monetary stimulus.
The S&P/TSX composite index gathered 60.72 points to close out Thursday at 13,431.38, with futures up 0.2%.
The Canadian dollar edged up 0.01 cents to 95.56 cents U.S. early Friday
Saputo Inc raised its takeover offer for Australia's Warrnambool Cheese and Butter Factory Co Holdings Ltd by 12.5%, and Warrnambool's board unanimously recommended it.
CIBC raised the target price on Aimia to $20 from $17, says 2014 will be a transition year and investors should focus on free cash flow
CIBC also raised the target price on Barrick Gold to $21 from $20 to reflect the company's recapitalization of its balance sheet
In the economic docket, Statistics Canada reported September manufacturing sales rose 0.6% to $49.9 billion, mostly due to higher sales in the motor vehicle assembly and food industries.
The Canadian Real Estate Association was due out with Multiple Listings Service sales figures for October this morning.
ON BAYSTREET
The TSX Venture Exchange gained 5.75 points Thursday to 931.63
ON WALLSTREET
Stocks continue to run in record territory, and with just another little leg up, the three major indexes could surpass some big milestones.
Ahead of the opening bell, futures for the Dow Jones Industrials hiked 32 points, or 0.2%, to 15,871. Futures for the S&P 500 picked up 3.6 points, or 0.2%, to 1,791.30, and futures for the NASDAQ gained 4.75 points, or 0.1%, to 3,415.25
The Dow is closing in on 16,000, while the S&P 500 is inching toward 1,800, both of which would be reached for the first time. The tech-heavy Nasdaq is nearing 4,000, a level not seen since September 2000, just months before the collapse of the dotcom bubble. All three indexes are within 1% of the psychologically-important mileposts.
Shares in Exxon Mobil were higher in pre-market trading after it was revealed that Warren Buffett's Berkshire Hathaway made a big bet on the company, buying roughly 40 million Exxon shares -- worth $3.74 billion U.S. at Thursday's closing price.
Credit rating agency Moody's downgraded four of the biggest U.S. banks, saying that it was now less likely the federal government would bail them out in the case of a crisis.
Shares of the four - JPMorgan Chase, Goldman Sachs, Morgan Stanley and Bank of New York Mellon -- were not yet trading early Friday.
Moody's reaffirmed its ratings on four other major banks -- Bank of America, Citgroup, State Street and Wells Fargo and their shares were either little changed or not yet trading.
European markets were mixed in midday trading, with London's FTSE 100 index edging higher while the main indexes in France and Germany moved slightly lower.
All the main Asian markets ended with solid gains. The main indexes in Tokyo, Hong Kong and Shanghai all pushed up by nearly 2%, in part bolstered by the dovish talk from Fed chair wannabe Janet Yellen
Oil prices eked up 16 cents to $93.92 U.S. a barrel
Gold prices slid three dollars to $1,283.30 U.S. an ounce.
