(Reuters) – Futures for Canada’s main stock index were higher on Friday, tracking its U.S. peers, while investors awaited manufacturing and trade data for August.
December futures on the S&P/TSX index were up 0.2% at 07:27 a.m. ET.
U.S. stock index futures reversed earlier losses as JPMorgan Chase & Co and Wells Fargo & Co rose after reporting third-quarter earnings, kicking-off big U.S. bank results. [.N]
Canadian manufacturing sales contracted further in August, data due at 08:30 a.m. ET is expected to show.
On Thursday, the Toronto stock index closed 2.2% higher to snap a five-day losing streak. Short-covering helped a rebound from 20-month lows hit after hot U.S. inflation data fanned fears of a super-sized U.S. Federal Reserve rate hike. [.TO]
Thursday’s rally pushed the index into positive territory for the week.
Gold and oil stocks were seen weakening as the bullion and crude fell on a stronger U.S. dollar and prospects of more steep rate hikes from the Fed. [GOL/][O/R]
Among single stocks, Turquoise Hill Resources Ltd’s fifth-biggest investor, SailingStone Capital Partners, said that it will vote against Rio Tinto Group’s $3.3 billion bid for the company, during a shareholder meeting on Nov. 1.
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
($1= C$1.37)
(Reporting by Johann M Cherian in Bengaluru; Editing by Savio D’Souza)
