Futures tracking Canada's resources-heavy stock index inched lower on Friday as investors turned cautious ahead of key jobs reports and a U.S. Supreme Court ruling on the legality of U.S. President Donald Trump's tariffs.
The TSX climbed 243.15 points to end Thursday’s session at 32,378.64.
The Canadian dollar settled 0.1 cents to 72.03 cents U.S.
March futures inched back 0.1% Friday.
U.S. jobs data for December, also due at 8:30 a.m. ET, is expected to show hiring slowed last month.
Among companies, Aritzia and Tilray Brands reported strong quarterly results on Wednesday.
On the economic beat, Statistics Canada reported employment was little changed, adding 8,200 jobs and the unemployment rate rose 0.3 percentage points to 6.8%, as more Canadians searched for work.
ON BAYSTREET
The TSX Venture Exchange moved up 2.6 points Thursday to 1,038.78.
ON WALLSTREET
Stock futures were near flat on Friday ahead of a key jobs report and a potential U.S. Supreme Court ruling on tariffs.
Futures for the Dow Jones Industrials gained 59 points, or 0.1%, to 49,552.
Futures for the S&P 500 index grabbed 11
points, or 0.2%, at 6,973.
Futures for the NASDAQ gained 51.75 points, or 0.2%, to 25,739.25.
Shares of Generac advanced more than 2% in premarket trading after the name was upgraded to outperform at Baird, with the firm saying that the company has a number of “unique” catalysts ahead, including the opportunity presented from commercial and industrial diesel generator sets.
That marks its second upgrade in wo days, as Citi upgraded it to buy on Thursday.
Investors are awaiting two key catalysts. First, the Supreme Court could issue a ruling on the legality of President Donald Trump’s tariffs, which could have an impact on trade policy and the nation’s fiscal situation. To be sure, it’s uncertain if the high court will make its ruling Friday.
Second, the December jobs report showed improvement of 50,000, less than expected.
Separately, investors will watch for developments on Trump’s directive “to his Representatives” to buy $200 billion in mortgage bonds, which he claimed will drive rates and monthly payments down.
In Japan, the Nikkei 225 regained 1.6% Friday, while in Hong Kong, the Hang Seng rose 0.3%.
Oil prices added 43 cents to $58.19 U.S. a barrel.
Gold prices increased $12.00 at $4,472.70 U.S. per ounce.
