Stock futures for Canada's main index edged higher on Friday, tracking upward movement in global shares, as U.S. President Donald Trump fueled hopes of a renewed dialogue between Washington and China for resolving their bilateral trade issues.
The S&P/TSX Composite Index ended Thursday ahead 122.87 points at 15,150.15
The Canadian dollar gained 0.0015 cents to 76.54 U.S. early Friday
December futures climbed 0.5% Friday.
Enbridge reported a third-quarter loss on Friday as it recorded several charges.
JP Morgan raised the price target on Air Canada to $34.00 from $30.00
CIBC cut the rating on Saputo to neutral from outperform
CIBC cut the rating on Source Energy Services to underperform from neutral
On the economic ledger, Statistics Canada says employment was little changed in October. The unemployment rate decreased 0.1 percentage points to 5.8% as fewer people searched for work.
The agency also reported that this Canada's merchandise trade deficit with the world narrowed to $416 million in September from $551 million in August. Imports fell 0.4%, while exports edged down 0.2%.
ON BAYSTREET
The TSX Venture Exchange recovered 3.59 points Thursday to 644.95
ON WALLSTREET
U.S. stock index futures pointed to a sharply higher open Friday as investors cheered potential progress on U.S.-China trade relations.
Futures for the Dow Jones Industrials rocketed 335 points, or 1.3%, to 25,660
S&P futures leaped 25.5 points, or 0.9%, to 2,763.50, while the NASDAQ Composite acquired 20.75, or 0.3%, to 7,098.50
Futures surged after a Bloomberg News report said President Donald Trump asked officials to start drafting a potential trade deal with China.
The report comes after Trump said on Thursday that trade talks with China "are moving along nicely." Trump's comment pushed stocks higher on Thursday.
Shares of Apple fell more than 5% in the pre-market after the company's iPhone shipments missed estimates, offered light guidance and announced major changes to its reporting structure.
Wall Street also looked ahead to the monthly jobs report due at 8:30 a.m. ET. Economists expect the headline jobless rate to hold at 3.7%, a near 50-year low. Total non-farm payroll growth is projected at 190,000, after September's disappointing 134,000.
Overseas, in Japan, the Nikkei 225 vaulted 2.6% Friday, while in Hong Kong, the Hang Seng index jumped a sharp 4.2%.
Oil prices sank 21 cents to $63.48 U.S. a barrel.
Gold prices were down a dollar to $1,237.60 U.S. an ounce.
