Futures Static at Friday Open

Futures for equities in Canada’s largest market were flat on Friday, following the release of key employment data due before the market open, while the benchmark index was set to log strong weekly gains on elevated commodity prices. The TSX hiked 106.24 points to end Thursday at 16,534.24. The Canadian […]

Futures for equities in Canada’s largest market were flat on Friday, following the release of key employment data due before the market open, while the benchmark index was set to log strong weekly gains on elevated commodity prices.

The TSX hiked 106.24 points to end Thursday at 16,534.24.

The Canadian dollar climbed 0.11 cents early Friday to 75.91 cents U.S.

December futures inched up 0.02% Friday.

TD Securities raised the target price on Advantage Oil & Gas to $3.00 from $2.75.

JP Morgan established the price target on Canadian National Railway at $154.00

National Bank of Canada raised the rating on Cargojet to outperform from sector perform

On the economic docket, Statistics Canada reported that, following an increase of 246,000, or 1.4% in August, employment rose by 378,000, or 2.1%, in September. The unemployment rate declined 1.2 percentage points to 9.0% in September, down from the peak of 13.7% in May.

ON BAYSTREET

The TSX Venture Exchange added 6.48 points Thursday to 715.34.

ON WALLSTREET

U.S. stock futures rose early Friday as Wall Street continued to search for clarity surrounding a new potential stimulus bill.

Futures for the Dow Jones Industrials jumped 123 points, or 0.4%, to 28.433.

Futures for the S&P 500 advanced 15 points, or 0.4%, at 3,452.

Futures for the NASDAQ Composite gained 38 points, or 0.3%, to 11,577.

House Speaker Nancy Pelosi’s deputy chief of staff tweeted that she and Treasury Secretary Steven Mnuchin spoke for 40 minutes earlier in the day. He noted that the conversation “focused on determining whether there is any prospect of an imminent agreement on a comprehensive bill. The Secretary made clear the President’s interest in reaching such an agreement.”

That tweet came after Pelosi told reporters she would not back aid to U.S. airlines without a broader stimulus package, something Trump hinted earlier in the week he’d support. Meanwhile, Trump told Fox Business on Thursday morning that the administration and Democrats were “starting to have some very productive talks.”

Investors also digested news on the coronavirus treatment front. GenMark Diagnostics said after the close Thursday that the Food and Drug Administration gave the company emergency clearance to run a test that screens for the flu, coronavirus and other viruses.

Overseas, in Japan, the Nikkei 225 faded 0.1% Friday, while in Hong Kong, the Hang Seng index lost 0.3%.

Oil prices slid 42 cents to $40.77 U.S. a barrel.

Gold prices rocketed $26.90 at $1,922.

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