Stock futures pointed to a higher opening for Canada's main stock index in the aftermath of U.S. non-farm payrolls data on Friday
The S&P/TSX composite index lost 44.80 points to close a rollercoaster Thursday at 14,760.64. Futures were up 0.4% shortly before 8:30 am ET.
The Canadian dollar fell 0.24 cents to 89.40 cents U.S. early Friday.
Iamgold said it would sell its Niobec rare earths mine in Quebec to a group of companies led by investment company Magris Resources Inc for $500 million in cash, to focus on its core gold mining business.
Sears Holdings Corp is turning to its chief executive for cash for the second time in three weeks in a sign that its efforts to sell off assets are coming up short.
Canaccord Genuity raised the rating on Capstone Mining to buy from hold
In the economic docket, Prime Minister Stephen Harper said Thursday that Canada's budget deficit for the 2013/14 fiscal year is likely to be $5.2 billion, rather than the $16.6 billion forecast in February.
Moreover, Canada's merchandise imports rose 3.9% in August, while exports shrank 2.5%. Statistics Canada also said that, as a result, Canada's trade balance with the world went from a surplus of $2.2 billion in July to a deficit of $610 million in August.
ON BAYSTREET
The TSX Venture Exchange tumbled 18.80 points Thursday to 877.55.
ON WALLSTREET
Whether the markets will prosper today depends largely on reaction to the U.S. jobs report.
Ahead of the opening bell, futures for the Dow Jones Industrials bolted 82 points, or 0.5%, to 16,806. Futures for the S&P 500 gained 11 points, or 0.5%, to 1,949.50, and futures for the NASDAQ picked up 20 points, or 0.5%, to 3,998.
The major U.S. indexes have fallen by about 2% since the start of the week.
RadioShack was one of the biggest movers in pre-market trading Friday, jumping after Bloomberg reported that the troubled electronics retailer had reached a refinancing deal with Standard General.
In the agreement, about $590 million U.S. of loans would be refinanced for the company to re-stock ahead of the holiday season, Bloomberg reported. RadioShack last month said it may need to file for bankruptcy protection if its cash situation worsens.
The stock advanced nearly 60% to $1.57, putting it on track for its biggest one-day advance in a history that goes back to 1980. It has lost about 62% this year.
U.S. shares of Tekmira Pharmaceuticals Corp were also higher before the bell, up 7% to $27.25 U.S. a day after it said it had achieved a $1.5-million development milestone. In addition, Maxim raised its price target on the stock to $31 from $23.00 U.S.
The stock is up 17% this week, moving in heavy volume after the first diagnosis of a patient with Ebola in the United States. The company has an Ebola treatment in its pipeline.
The U.S. Labor Department reported at 8:30 am ET that the economy created 248,000 jobs in September, lowering the unemployment rate to 5.9%.
Economists were predicting that 215,000 jobs were created last month, up from 142,000 in August. The unemployment rate is expected to hold steady at 6.1%.
Investors will likely warm to the fact that more than 200,000 jobs were created last month, since the number fell below this mark in August, breaking a six-month streak. They'll also be looking for wage growth, which is a key metric the Federal Reserve uses to decide when to raise interest rates.
Most Asian markets were firmer Friday, including the main index in Hong Kong.
The Hang Seng gained 0.6%, recovering from losses earlier in the week when investors pulled money out of the market as pro-democracy protests swelled.
Friday's bounce was driven by Chinese real estate stocks, which were rallying after the central bank said it would loosen some mortgage rules.
Oil prices dipped 51 cents to $90.50 U.S. a barrel
Gold prices slipped $8.80 to $1,206.30 U.S. an ounce.
