Markets in Toronto looked set to follow global markets higher as oil prices rose and investors focused on a meeting of G-20 leaders that kicked off in Shanghai on Friday.
The S&P/TSX Composite Index eked higher 13.33 points to close Thursday at 12,753.60, with March futures up 0.7%.
The Canadian dollar hesitated 0.1 cents to 73.81 cents U.S. early Friday.
Husky Energy Inc posted a smaller-than-expected quarterly loss as cost cuts help cushion the impact from slumping crude oil prices.
Magna International Inc reported a rise in quarterly sales, excluding the impact of a strong U.S. dollar, helped by healthy demand in Europe and North America.
Goldcorp forecast 2016 gold production of 2.8-3.1 million ounces, lower than its 2015 output, and reduced its dividend.
RBC cut the target price on Loblaw Companies to $76.00 from $78.00 with a sector perform rating.
RBC cut the target price on Stantec to $34.00 from $3.00
China reassured global finiancial leaders at the meeting that it would not devalue its currency again but look at other means to support its economy.
Oil prices gained more than 1% as hopes of OPEC action outweighed concerns over fundamental oversupply.
ON BAYSTREET
The TSX Venture Exchange found its way upward 0.57 points Thursday to 534.31
ON WALLSTREET
U.S. stock futures are pointing up and nearly all global markets are posting strong gains.
Ahead of the opening bell, futures for the Dow Jones Industrials skyrocketed 80 points, or 0.5%, to 16,752, futures for the S&P 500 moved up nine points, or 0.5%, to 1,959.50. NASDAQ futures gained 27.5 points, or 0.7%, to 4,271.75.
Shares in Weight Watchers may come under pressure after the company reported worse-than-expected earnings. Weight Watchers has been an incredibly volatile stock since Oprah Winfrey took a 10% stake in the company back in October.
Shares in Baidu are set to surge Friday as investors cheer its latest quarterly results. Shares in Kraft Heinz are also set to rise based on earnings.
Companies including Magna, Hilton Hotels, Sotheby's and Foot Locker are due to report ahead of the open.
After the close, Warren Buffett's Berkshire Hathaway will release its fourth-quarter results. The firm's annual report, along with a yearly shareholder note from Buffett, will be released on Saturday. Buffett's annual letter is a favourite among investment buffs.
On the economic slate, the U.S. Bureau of Economic Analysis will release its latest Gross Domestic Product data. It will also issue a monthly personal income and spending report at the same time.
The University of Michigan will post its consumer sentiment index for February at 10 a.m.
Chinese stock markets were calm Friday following a sharp, unexpected drop on Thursday.
Investors may have been eased by comments from the head of China's central bank, Zhou Xiaochuan, who said the bank still has the ability and tools to support the nation's economy.
His remarks, reported by local media, came as G20 finance ministers and central bankers began a two-day meeting.
Oil prices poked ahead 37 cents to $33.44 U.S. a barrel
Gold prices gained 85 cents to $1,233.76 U.S. an ounce.
