Futures to Take Off Friday on Trade Momentum

Aurora, Dollarama in Focus

Futures for Canada's main stock index jumped on Friday as investors cheered signs of progress in U.S.-China trade talks.

The S&P/TSX Composite gained 32.14 points to conclude trading Thursday at 16,643.28

The Canadian dollar docked 0.10 cents to 75.60 cents U.S. early Friday

September futures vaulted 0.5% early Friday.

Eight Capital cut the price target on Aurora Cannabis to $12.00 from $15.00

Scotiabank raised the price target on Dollarama to $55.00 from $52.50

Scotiabank raised the price target on Empire Company to $42.00 from $38.00

ON BAYSTREET

The TSX Venture Exchange added three points to close Thursday at 589.16

ON WALLSTREET

U.S. stock index futures were slightly higher Friday amid improving sentiment around U.S.-China trade relations, with the Dow Jones Industrial Average and S&P 500 on the brink of registering all-time record highs.

Futures for the Dow leaped 114 points, or 0.4%, early Friday to 27,298

Futures for the S&P 500 gained 9.75 points, or 0.3%, at 3,023.50

NASDAQ Composite futures advanced 29.75 points, or 0.4%, to 7,972.25

Trade bellwethers Caterpillar headed higher 0.6%, and Boeing rose 0.9% in the pre-market. Chipmakers Applied Materials and NXP Semiconductors both rose at least 1%.

The Dow — which is riding a seven-day winning streak — is looking to surpass an intraday record high of 27,398.68, while the S&P 500 is closing in on its previous record of 3,027.98 points. Each index finished the previous session only slightly higher, short of their respective records.

On the data front, retail sales for August and import prices for August will be released at around 8:30 a.m. ET. Consumer sentiment for September and business inventories for July will follow slightly later in the session.

Market focus is largely attuned to global trade developments, as the world’s two largest economies continued to prepare for talks in early October aimed at breaking their trade war impasse.

The New York Times reported Friday that China will exempt some U.S. agricultural products, including soybeans and pork, from additional tariffs.

Overseas, in Japan, the Nikkei 225 vaulted 1.1% Friday, while in the Hong Kong, the Hang Seng index gained 1%

Oil prices were unchanged at $55.09 U.S. a barrel.

Gold prices jumped $6.30 to $1,513.70 U.S. an ounce.