Futures Dip on U.S. Fed Remarks

Futures for Canada’s main stock index slipped on Friday, as U.S. Federal Reserve Chair Jerome Powell’s hawkish remarks refueled rate hike worries, while a slip in prices of most metals also weighed on investor sentiment.

The TSX Composite gained 57.2 points to close Thursday at 19,587.41.

December futures declined 0.4% early Friday.

The Canadian dollar was flat at 72.41 cents U.S.

In corporate news, pot producer Canopy Growth reported a smaller second-quarter adjusted core loss on Thursday on the back of cost cuts.


The TSX Venture Exchange lost 0.89 points Thursday to 514.94.


S&P 500 futures were little changed Friday as traders kept an eye on Treasury yields after the broad-market index ended an eight-day run of gains.

Futures for the Dow Jones Industrials picked up 90 points, or 0.3%, to 34,034.

Futures for the S&P 500 cleared breakeven eight points, or 0.1%, at 4,370.25.

Futures for the NASDAQ moved higher 3.5 points to 15,259.50, after ending a nine-day string of wins — also its lengthiest run of gains in two years.

As the week winds down, the S&P 500 is poised for a modest loss of 0.3% and the Dow is looking at a decline of 0.5%. The NASDAQ has a modest gain of 0.3% week to date.

Trade Desk swooned nearly 30% after the digital ad company offered weak revenue guidance for the fourth quarter. Elsewhere, hydrogen fuel cell company Plug Power cratered 25% on a wider-than-expected third quarter loss and a miss on revenue.

In Japan, the Nikkei 225 settled 0.2%, while in Hong Kong, the Hang Seng fell 1.8%.

Oil prices gathered 92 cents to $76.60 U.S. a barrel.

Gold prices dulled $18.80 to $1,951.00 U.S. an ounce.

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