Futures pointed to a lower opening for Canada's main stock index on Friday, as investors took in gross domestic product (GDP) data that will shed light on the health of the economy.
The S&P/TSX Composite Index gained 19.97 points to conclude Thursday trading at 15,191.36. September futures slid 0.45% Friday.
The Canadian dollar eked higher 0.04 cents to 79.71 U.S. early Friday
Bombardier posted a surprise quarterly profit on Friday and said it expected 2017 earnings before interest and taxes to be at the higher end of its forecast.
Hudson's Bay is planning to open its first namesake department store in Canada in at least five years, the company confirmed on Thursday, even as other competitors are shuttering stores in a brutal retail market.
Goldcorp’s CEO said Thursday the company is looking to sell royalties it owns on a number of mining projects it has sold in recent years, its chief executive said on Thursday, as the Canadian gold miner nears the end of a series of non-core asset sales.
RBC cut the rating on Tembec Inc. to sector perform from outperform
Desjardins raised the rating on Uni Select to buy from hold
RBC raised the rating on Vermilion Energy to outperform from sector perform
On things macroeconomic, Statistics Canada reported that GDP grew 0.6% in May, with 14 of 20 industrial sectors increasing. This was the seventh consecutive monthly increase.
ON BAYSTREET
The TSX Venture Exchange slid 0.97 points Thursday to 769.23.
ON WALLSTREET
Futures for equities in the U.S. pointed to a lower open on Friday, as the earnings overload and the Gross Domestic Product data release continues to keep investors busy.
Ahead of the opening bell, futures for the Dow Jones Industrials doffed 33 points, or 0.2%, to 21,710. Futures for the S&P 500 deleted 6.75 points, or 0.3%, to 2,465.25. NASDAQ futures fell 39.5 points, or 0.7%, to 5,870.
ExxonMobil, Merck, and American Airlines Group are among the companies that reported quarterly results.
On the data front, GDP data for the second quarter will be the talk of the town on Friday, with the data due to come out at 8.30 a.m. ET.
The Employment Cost Index was also slated to come out at 8:30 a.m. ET, followed by consumer sentiment at 10 a.m. ET.
European markets were in the red approaching noon Thursday on the continent, while the Nikkei 225 in Japan lost 0.6%, and Shanghai’s CSI 300 gained 0.3%.
Oil prices gained six cents to $49.10 U.S. per barrel.
Gold prices slid 30 cents to $1,259.70 U.S. an ounce.
