Futures for Canada's main stock index rose on Friday, indicating a positive start to the day after a sharp selloff in the previous session, as precious metals rebounded and oil prices climbed ahead of U.S.–Iran negotiations in Oman.
The TSX folded 576.95 points, or 1.8%, to conclude trading Thursday at 31.994.60.
March futures rallied 0.5% Friday.
In corporate news, Saputo reported third-quarter revenue after the bell on Thursday that missed analysts' estimates, while energy firm Arc Resources' fourth-quarter revenue beat estimates.
Capstone Copper said on Friday that full operations have resumed at Chile's Mantoverde mine following an end to a labour strike.
On the economic front, Statistics Canada says Employment edged down in January by 0.1% and the unemployment rate fell by 0.3 percentage points to 6.5%, as fewer people searched for work.
Moreover, the IVEY PMI for January was due about 10 a.m. EST.
ON BAYSTREET
The TSX Venture Exchange vaulted 22.05 points, or 2.1%, to 1,052.72.
ON WALLSTREET
Stock futures rose on Friday, putting the market on track to put a positive end to a volatile week that saw investors left disappointed over tech stocks and fearing a cryptocurrency collapse.
Futures for the Dow Jones Industrials popped 241 points, or 0.5%, to 49,239.
Futures for the S&P 500 progressed 36.75 points, or 0.5%, at 6,857.50.
Futures for the NASDAQ leaped 151.5 points, or 0.6%, to 25,802.50.
The gains came even as Amazon shares sank 7% after the ecommerce giant posted earnings per share slightly under analyst expectations and told investors to expect $200 billion in capital expenditures this year.
On the other hand, Reddit popped 9% after the social media platform announced an earnings beat, strong guidance and a stock buyback program.
Despite the issues with Amazon, other tech shares popped: Nvidia rose 3% and Microsoft gained nearly 1% after both companies saw close to double-digit percentage drops this week.
Bitcoin tumbled 16% overnight, briefly sinking below $61,000. However, the crypto leader recouped some losses Friday, adding 4% to climb back above $66,000.
The action followed a rough day on Wall Street, with the market once again bogged down by technology stocks. The tech-focused NASDAQ Composite sank roughly 1.6%, hampered in particular by Qualcomm’s 8.5% post-earnings drop.
Markets in Japan revived with the Nikkei 225 index gaining 0.8% Friday, while the Hang Seng in Hong Kong sank 1.2%.
Oil prices sifted off 20 cents to $63.09 U.S. a barrel.
Gold prices gained $16.00 to $4,905.50 U.S an ounce.
Futures Rebound After 3-Day Skid
