Stock futures pointed to a lower opening for Canada's main stock index on Friday after U.S. President Donald Trump rattled global markets with fresh tariff threats on China.
The S&P/TSX Composite surrendered most of its earnings acquired during the day, and lost 29.52 points to conclude Thursday at 16,377.04
The Canadian dollar dipped 0.2 cents to 75.62 cents U.S. early Friday
September futures sank 0.3% Friday.
Restaurant Brands International's quarterly profit beat analysts' expectations on Friday, as more diners visited its Burger King outlets, and investments made in international expansion paid off.
The Ontario Securities Commission has opened an investigation into CannTrust Holdings Inc, the cannabis producer said on Thursday, less than a month after the health regulator found unlicensed pot cultivation by the company.
Barrick Gold said on Thursday it conveyed the need for a "partnership approach" for the future of the Porgera gold mine in Papua New Guinea, as the Pacific nation wants more benefits from the mine, for which Barrick is seeking a lease extension.
Brookfield Asset Management is in talks to acquire a 30% stake in Brazilian sanitation company Brookfield Ambiental from the workers severance fund FGTS.
JPMorgan raised the price target on Air Canada to $50.00 from $42.00
CIBC cut the price target on Bombardier to $3.25 from $3.75
On the economic front, Statistics Canada said Canada's exports were down 5.1% in June, while imports fell 4.3%. As a result, Canada's merchandise trade balance remained in a surplus position of $136 million after posting a $556-million surplus in May.
ON BAYSTREET
The TSX Venture Exchange gained 4.9 points to close Thursday at 596.56
ON WALLSTREET
Futures south of the border dropped sharply Friday, as investors digest news of an additional 10% tariff on Chinese imports from the U.S. ahead of a key jobs report.
Futures for the Dow Jones Industrials doffed 63 points, or 0.2%, to 26,480
Futures for the S&P 500 dropped 10.75 points, or 0.4%, at 2,941.25
NASDAQ futures stepped back 56.25 points, or 0.7%, to 7,752
Exxon Mobil and Ruth’s Hospitality Group are among the firms reporting earnings Friday.
In a series of tweets on Thursday, President Donald Trump said the 10% charge would be imposed on $300 billion worth of Chinese goods. The levy will take effect starting September 1.
China’s foreign ministry pushed back against Trump’s latest tariff threat on Friday morning, reportedly saying the world’s largest economy should give up its illusions, shoulder some responsibility and come back to the right track on resolving the trade war.
On the data front, investors will be closely monitoring the latest reading of non-farm payrolls this morning. Average hourly wages and unemployment rate figures for July will be released at the same time.
The jobs report comes after the Federal Reserve cut rates earlier this week by 25 basis points.
Overseas, in Japan, the Nikkei 225 index tumbled 2.1% Friday, while in the Hong Kong, the Hang Seng index plunged 2.4%,
Oil prices gained $1.23 to $55.18 U.S. a barrel.
Gold prices Hiked $17.30 to $1,449.70 U.S. an ounce.
