Stock futures pointed to a lower opening for Canada's main stock index on Friday as oil prices tumbled after International Energy Agency warned that global oversupply will continue.
The Toronto Stock Exchange's S&P/TSX composite index gained 79 points to close Thursday at 13,016.59. Futures Friday slid 0.8%.
The Canadian dollar skidded 0.23 cents to 73.17 cents U.S. early Friday
ON BAYSTREET
The TSX Venture Exchange retreated 0.96 points Thursday to 504.28.
ON WALLSTREET
U.S. stock futures are dipping Friday morning, indicating Wall Street may be set for its fourth negative trading day of the week.
Ahead of the opening bell, futures for the Dow Jones shot lower 180 points, or 1%, to 17,386, futures for the S&P 500 tumbled 18 points, or 0.9%, to 2,031.25. NASDAQ futures were unchanged at 5,045.17
Ford will be in the spotlight after the American automaker announced it was making a big push into electric vehicles, investing another $4.5 billion by 2020. The company said more than 40% its models will come in electrified versions by the end of the decade.
Shares in Adobe look set to surge Friday after the company issued a better-than-expected earnings report.
Also, investors are expected to warm to the specialty tea company DAVIDsTEA, after the young firm reported results that exceeded Wall Street expectations. The Canadian-based company reported double-digit sales growth in the third quarter, but sustained a small loss.
The U.S. Census Bureau will report November retail sales figures this morning. The University of Michigan Consumer Sentiment Index for December is scheduled for release at 10 a.m.
European markets are looking weak in morning trading, and most Asian markets ended in the red.
Shares in two Hong Kong companies linked to a Chinese conglomerate were halted on Friday after its chairman was reported to be missing. Fosun International and Fosun Pharmaceutical said trading was suspended "pending the release of an announcement containing inside information."
Chinese business news site Caixin reported Thursday that Fosun Group had been unable to contact its chairman, Guo Guangchang.
Several corporate executives and senior government officials have disappeared lately, and some never return to their posts.
Oil prices slid 32 cents to $36.24 U.S. a barrel
Gold prices were lower by $6.76 to $1,064.82 U.S. an ounce.
