North American stock markets headed for calmer day of trading

TORONTO - North American investors appear headed for a calmer Friday after days of upheaval spurred by events surrounding China's currency and two of its major stock markets.

See Full Article

Several major Asian stock indexes including the Shanghai Composite closed slightly higher Friday, after China's central bank issued a statement promising it would aim for currency stability and China's stock regulator suspended a new "circuit breaker" system that were triggered on Monday and Thursday -- upsetting securities markets around the world.

In Europe, market indexes were slightly up or slightly down before the North American trading day began and before the release of unemployment reports in Canada and the United States at 8:30 a.m. ET.

The Dow Jones index futures were modestly higher, up 92 points or 0.56 per cent at 16,511.0. Similar small gains were seen with S&P 500 futures, up 11 points at 1,944.0, and Nasdaq futures were up 33 points at 4,322,25 about an hour before the jobs reports.

The Canadian dollar remained below 71 cents US near 12 1/2-year lows but slightly higher. It was at 70.95 cents US, up 0.01 from Thursday's close at 70.94 cents US.

On the commodity markets, the February gold contract fell $7.70 to US$1,100.10 an ounce and the February crude contract was up 29 cents at US$33.56 per barrel.



Advertisements

Latest Economic News

  • U.S. economic growth weakened to 0.7 per cent in first quarter

    Economic CBC News
    The U.S. economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result underscores the challenge facing President Donald Trump in achieving his ambitious economic growth targets. Source
  • Trump tower fated not to rise in Indonesian isle of the gods

    Economic CTV News
    TANAH LOT, Indonesia -- Thousands of people flock daily to the centuries-old, sacred Hindu temple at Tanah Lot, a rock formation that juts into the Indian Ocean. An island at high tide and flanked by sheer cliffs, it's among Bali's most photographed sites, particularly for the mesmerizing sunsets that transform the waters into a shimmering orange vista. Source
  • Exxon's 1Q profit more than doubles on higher oil prices

    Economic CTV News
    IRVING, Texas -- Exxon more than doubled its profit in the first quarter as rising crude prices magnified the cost cuts made by the company as energy prices tumbled. The Irving, Texas, company earned $4.01 billion, or 95 cents per share, for the three month period, up from $1.81 billion, or 43 cents per share, a year earlier. Source
  • Imperial Oil reports $333M Q1 earnings, raises dividend to 16 cents

    Economic CTV News
    CALGARY - Imperial Oil (TSX:IMO) is reporting first-quarter earnings that reversed a loss in the same period of last year but fell short of analyst expectations. The Calgary-based oil producer and refiner says net income was $333 million or 39 cents per share in the three months ended March 31, boosted by a gain of $151 million on the sale of former refinery lands in Mississauga, Ont. Source
  • Home Capital director quits, citing potential conflict

    Economic CTV News
    TORONTO -- The chief executive of HOOPP has resigned as a director of Home Capital Group and its subsidiaries, citing a potential conflict of interest following the pension fund's decision to provide $2 billion of credit to the mortgage company. Source
  • German airlines to scrap requirement for 2 people in cockpit

    Economic CTV News
    BERLIN -- Germany's aviation association says the country's airlines have decide to scrap rules requiring two people in the cockpit at the same time, implemented after a Germanwings pilot is believed to have crashed his own plane in France two years ago. Source
  • Apple cuts off payments, Qualcomm slashes expectations

    Economic CTV News
    NEW YORK -- Qualcomm slashed its profit expectations Friday by as much as a third after saying that Apple is refusing to pay royalties on technology used in the iPhone. Its shares hit a low for 2017. Source
  • Canadian GDP flat in February after hot start to 2017

    Economic CTV News
    OTTAWA - Canadian economic growth took a pause in February after the break-neck pace seen at the start the year. Statistics Canada says gross domestic product was unchanged in February. The result matched the expectations of economists, according to Thomson Reuters. Source
  • Trump seeks to expand offshore drilling

    Economic CTV News
    WASHINGTON -- Working to dismantle his predecessor's environmental legacy, U.S. President Donald Trump plans to sign an executive order Friday that could lead to the expansion of drilling in the Arctic and Atlantic oceans. With one day left to rack up accomplishments before he reaches his 100th day in office, Trump will order his interior secretary to review an Obama-era plan that dictates which locations are open to offshore drilling, with the goal of the new administration to expand…
  • Trump signs order to expand ocean oil drilling

    Economic CTV News
    U.S. President Donald Trump has signed an executive order that will roll back restrictions on oil drilling in the Arctic. Trump says at a White House signing ceremony, "Today, we're unleashing American energy and clearing the way for thousands and thousands of high-paying energy jobs. Source