Stock futures pointed to a higher opening for markets in this country on Friday as strong U.S. economic data eased growth concerns, while a payrolls report threw cold water on hopes.
The S&P/TSX Composite Index leaped 120 points to close the month’s first session at 15,469.91. June futures nicked up 0.1% early Friday.
The Canadian dollar gave back 0.07 cents to 73.95 cents U.S. early Friday.
Canada Goose, which went public in March, reported a bigger fourth-quarter loss as expenses rose.
Athletic apparel maker Lululemon Athletica Inc on Thursday said it would close most of its money-losing Ivivva girls stores and boost investment in its online business as it reported quarterly profit that beat analysts' forecasts.
Canadian auto sales hit a record high in May, with General Motors and Ford on Thursday reporting double-digit increases, fueled by demand for crossovers and light trucks.
CIBC raised the rating on Canadian Western Bank to outperform from neutral
Desjardins raised the rating on Saputo to buy from hold
CIBC raised the target price on BRP to $42.00 from $34.00
On the economic front, Statistics Canada reported that our trade balance with the rest of the world narrowed to a $370 million deficit in April. The agency reports exports rose 1.8% while imports were up 0.6%.
ON BAYSTREET
The TSX Venture Exchange gained 0.55 points Thursday to 800.45
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Friday, even as traders’ hopes of robust hiring in the latest jobs report fizzled.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 67 points, or 0.3%, to 21,199. Futures for the S&P 500 picked up 4.75 points, or 0.2%, to 2,434.25. NASDAQ futures moved ahead 17.75 points, or 0.3%, to 5,803.50.
Figures released by the U.S. Labor Department showed that non-farm payrolls gained only 138,000 in May, far short of the 185,000 projected.
Meanwhile, trade deficit data for April was also expected to be released at the same time.
European markets had climbed by noon on the continent, while the Nikkei 225 in Japan rocketed 1.6%, while Shanghai’s CSI 300 faded 0.3%
Oil prices collapsed 99 cents to $47.37 U.S. per barrel.
Gold prices lost five dollars to $1,265.10 U.S. an ounce.
