Futures for Canada’s main stock index rose on Friday as oil prices increased, while investors await next week’s domestic economic data and policy changes from U.S. President-elect Donald Trump after he takes office.
The TSX gained 56.9 points to close Thursday at 24,846.20.
The Canadian dollar faded 0.18 cents to 69.29 cents U.S. Friday.
March futures progressed 0.3% Friday.
Canadian stocks are set for slight weekly gains after declining over 1% in the previous week.
Trump’s threats of a 25% tariff on Canadian imports have unnerved investors, as Canada sends 75% of its exports to the U.S.
On the economic front, Statistics Canada reported Canadian investors increased their exposure to foreign securities by $17.8 billion in November, the highest investment since March 2024. Meanwhile, foreign investors acquired $16.4 billion of Canadian securities, led by an unprecedented investment in money market instruments.
ON BAYSTREET
The TSX Venture Exchange eked higher 0.62 points Thursday to 608.44.
ON WALLSTREET
Stock futures ticked higher early Friday, as Wall Street looks complete its first weekly gain of the new year.
Futures for the Dow Jones Industrials zoomed 226 points, or 0.5%, to 43,598.
Futures for the S&P 500 Index grabbed 33 points, or 0.6%, to 6008.50.
Futures for the tech-heavy NASDAQ galloped 160.25 points, or 0.8%, to 21,410.
For the week, the Dow gained 2.9% and the S&P 500 is up 1.9%. That puts them on pace for their biggest weekly advance since the week of the U.S. presidential election in November. The NASDAQ Composite, up 0.9% week to date, is headed for its best one-week performance since early December.
Those gains come after investors received back-to-back reports showing inflationary pressures softening somewhat. The core consumer price index rose less than expected year on year, and the producer price index also had a smaller-than-anticipated increase for December.
J.B. Hunt Transport Services shares fell more than 7% after the company’s fourth-quarter earnings came in weaker than expected. J.B. Hunt earned $1.53 per share, below the LSEG consensus estimate of $1.61 per share. Meanwhile, revenue for the period came in line with expectations at $3.15 billion.
Qorvo rose more than 7% after The Wall Street Journal, citing people familiar with the matter, reported that activist investor Starboard Value has built a 7.7% stake in the company and is looking to make changes to boost the company’s share price.
Investors are also looking ahead to next week, as Donald Trump is set to be inaugurated as president for the second time. Stocks rallied right after his November electoral victory, as investors bet on deregulation and lower taxes.
In Japan, the Nikkei 225 index sank 0.3%, while in Hong Kong, the Hang Seng index gained 0.3%.
Oil prices sagged 46 cents to $78.22 U.S. a barrel.
Gold prices fell $12.00 to $2,738.90 U.S. an ounce.
