Futures for Canada’s main stock index rose on Friday as copper prices surged on a potential output cut by China, while investors awaited domestic housing starts data to gauge the strength of the Canadian economy.
The TSX Composite finished Thursday in the red 140.26 points to 21,829.85
March futures picked up 0.3% Friday.
The Canadian dollar was better by 0.02 cents to 73.88 cents U.S.
TC Energy agreed to sell its Prince Rupert natural gas pipeline project to two partners in Ksi Lisims LNG, a proposed Canadian export terminal, the North American pipeline operator said on Thursday.
On matters economic, foreign investment in Canadian securities amounted to $8.9 billion in January, led by acquisitions of government debt securities. Meanwhile, Canadian investors reduced their holdings of foreign securities by $7.6 billion, led by sales of equity securities.
Moreover, Canada Mortgage and Housing Corporation said housing starts totaled 253,000 in February, compared to 223,200 in the same month last year.
Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) grew 0.1% to $82.4 billion in January.
Finally, the Canadian Real Estate Association was due out with its report this morning on MLS house sales for February.
ON BAYSTREET
The TSX Venture Exchange lost 5.61 points, or 1%, Thursday to 549.47.
ON WALLSTREET
S&P 500 futures edged higher Friday as investors tried to wrap up a big week of inflation data on a strong note.
Futures for the Dow Jones Industrials rose 65 points, or 0.2%, to 39,412.
Futures for the S&P 500 acquired five points, or 0.1%, to 5,223.
Futures for the NASDAQ Composite settled 3.75 points to 18,268.
Software provider Adobe dropped 11% on weak sales guidance. Beauty stock Ulta slid more than 6% after its full-year earnings forecast largely underwhelmed analysts.
Those moves follow a losing day on Wall Street. The Dow slipped more than 100 points, or about 0.4%, to snap a three-day winning streak. The S&P 500 and NASDAQ each fell around 0.3%.
Investors will watch Friday morning for economic data on topics such as consumer sentiment, import prices and industrial production.
In Japan, the Nikkei 225 skidded 0.3% Friday, while in Hong Kong, the Hang Seng index gained 1.4%.
Oil prices dropped 62 cents to $80.64 U.S. a barrel.
Gold prices gained $1.10 to $2,168.60 U.S. an ounce.
