Futures for Canada’s main stock index rose on Friday ahead of the crucial U.S. inflation data and domestic GDP numbers that can offer more clarity on the rate-cut outlook in both economies.
The TSX Composite Index gained 100.51 points to close Thursday at 23,227.49.
The Canadian dollar inched up 0.07 cents to 74.20 cents U.S.
September futures were up 0.2% Friday.
Markets on both sides of the border will be closed Monday for Labour Day.
In corporate news, Pluribus Technologies reported a bigger second-quarter net loss, primarily due to an impairment charge taken against the goodwill of Social5, a social media marketing company it acquired in 2022.
On the economic slate, Statistics Canada says gross domestic product increased 0.5% in the second quarter after rising 0.4% in the first quarter. On a per capita basis, GDP fell 0.1% in the second quarter, the fifth consecutive quarterly decline.
ON BAYSTREET
The TSX Venture Exchange inched higher 2.2 points Thursday to 567.92.
ON WALLSTREET
Stock futures climbed Friday as investors prepared for a crucial inflation reading that’s closely watched by the Federal Reserve.
Futures for the Dow Jones Industrials advanced 95 points, or 0.2% to 41,534.
Futures for the S&P 500 grabbed 26.5 points, or 0.5%, at 5,636.
Futures for the NASDAQ leaped 159.25 points, or 0.8%, to 19,552.50.
On the week, the S&P 500 was on pace for a decline of 0.8% and the NASDAQ could slip 2% — the first losing week in three for both indexes.
The Dow is on pace for its third positive week, up 0.4% in the period.
A new catalyst for stocks awaits on Friday at 8:30 a.m. ET: the personal consumption expenditures price index. Economists polled by Dow Jones anticipate a 0.2% monthly increase in July for headline prices, or 2.5% on an annual basis. The core reading is expected to have gained 0.2% from the prior month, or 2.7% from 12 months earlier.
In Japan, the Nikkei 225 gained 0.7% Friday, while in Hong Kong, the Hang Seng index cleared breakeven 1.1%.
Oil prices stayed put at $75.91 U.S. a barrel.
Gold prices were down $7.20 to $2,553.10.
