Futures pointed to a higher opening for Canada's main stock index on Friday on hopes that Washington and Beijing are on course to resolve their trade dispute.
The S&P/TSX Composite Index ended Thursday down 30.38 points to 16,000.86
The Canadian dollar notched up 0.02 cents to 75.63 cents U.S. early Friday
March futures gained 0.2% Friday.
The Globe and Mail reported Friday morning that Barrick Gold is considering a hostile bid for Newmont Mining for about $19 billion in stock, in what would potentially be one of the largest-ever mining deals.
Royal Bank of Canada reported a 7% rise in earnings in the first quarter, with growth in personal and commercial banking partially offset by lower earnings at its capital markets division.
Magna International beat analysts' estimates for quarterly profit as the auto parts maker assembled more vehicles, benefiting from new launches by car makers Jaguar Land Rover and Daimler AG.
CIBC cut the rating on Altus Group to underperform from neutral.
Canaccord Genuity cut the price target on Finning International to $29.00 from $33.00
CIBC raised the price target on Loblaw Companies to $76.00 from $70.00
On the economic calendar, Statistics Canada reported retail sales as edged down 0.1% to $50.4 billion in December. Lower sales at gasoline stations (-3.6%) were partly offset by higher sales at motor vehicle and parts dealers (+1.0%). Excluding gasoline stations, retail sales increased 0.4%
ON BAYSTREET
The TSX Venture Exchange eased 0.72 points Thursday to 621.61.
ON WALLSTREET
U.S. stock futures were higher on the final trading day of the week, as market participants closely monitor trade talks between the world's two largest economies.
Futures for the Dow Jones Industrial Average spiked 122 points, or 0.5%, at 25,955.
Futures for the S&P 500 picked up 11.25 points, or 0.4%, to 2,785.50
NASDAQ futures added 34.75 points, or 0.5%, to 7,069.25
Wayfair and Auto Nation are among the companies reporting earnings Friday.
Optimism has risen over the chances of both countries securing a deal to end their protracted trade war, but some experts say the most difficult part is yet to come as high level talks continue into Friday. President Donald Trump is scheduled to meet with Chinese Vice Premier Liu He later on Friday.
One of Trump's biggest contentions with Beijing is the claim that the country has stolen intellectual property and trade secrets from American companies. Both nations are a week away from a March 1 deadline to secure a trade deal, however speculation has risen there may be an extension to that target.
Overseas, in Japan, the Nikkei 225 dipped 0.2% Friday, while in Hong Kong, the Hang Seng climbed 0.7%.
Oil prices took on 81 cents to $57.77 U.S. a barrel.
Gold prices sank $3.10 to $1,324.70 U.S. an ounce.
