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Futures Improve Friday



Futures tied to Canada’s main stock index were marginally higher on Friday as investors looked forward to more data to gauge the state of the economy, though the index is set to log weekly losses.

The TSX Composite managed to hang onto 2.7 points to complete Thursday at 20,116.06.

December futures poked upward 0.1% early Friday.

The Canadian dollar improved 0.09 cents to 73.10 cents U.S.

Among individual stocks, Panama’s top court is expected to start deliberations on Friday to rule on several constitutional challenges to First Quantum Minerals’ contract for the Cobre Panama mine.

On the economic calendar, Statistics Canada said retail sales increased 0.6% to $66.5 billion in September. Sales were up in four of nine subsectors and were led by increases at motor vehicle and parts dealers.

ON BAYSTREET

The TSX Venture Exchange picked up 1.97 points to 529.91.

ON WALLSTREET

Futures tied to the Dow Jones Industrial Average rose slightly Friday ahead of a shortened trading session, as the major averages aimed for a four-week winning streak.

Futures for the 30-stock index gained 67 points, or 0.2%, to 35,385.

Futures for the S&P 500 four points, or 0.1%, at 4,571.25.

Futures for the NASDAQ deducted 6.5 points to 16,042.75.

For the week, the Dow and S&P 500 are up 0.9% each. The NASDAQ Composite is up 1% in that time. It would be the longest weekly winning streak for the S&P 500 and NASDAQ since June. The Dow, meanwhile, hasn’t posted a weekly run this long since April.

The U.S. stock market closes at 1 p.m. EST after being closed Thursday due to the Thanksgiving holiday. On Wednesday, the major averages closed higher after the 10-year Treasury yield fell to levels not seen since September. The benchmark rate was up five basis points at around 4.47% on Friday.

In Japan, the Nikkei 225 returned from holiday to gain 0.5%, while in Hong Kong, the Hang Seng Index stepped back 2%.

Oil prices fell 60 cents to $76.50 U.S. a barrel.

Gold prices brightened $4.20 to $1,997 U.S. an ounce.



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