Stocks Flat to End Holiday-Shortened Week

Futures for Canada’s main stock index retreated on Friday as a record surge in COVID-19 cases in the United States raised fears of another round of lockdowns, overshadowing early signs of an economic rebound from the pandemic-driven slump.

The S&P/TSX Composite Index leaped 107.18 points to conclude the session Thursday at 15,622.40.

September futures dipped 0.1% Friday.

The Canadian dollar dipped 0.05 cents to 73.68 cents U.S.

Canada’s Supreme Court removed an obstacle to the expansion of the Trans Mountain oil pipeline on Thursday, dismissing an appeal of a lower court decision that had backed Ottawa’s approval of the project.

Overseas, in Tokyo, the Nikkei 225 gained 0.7% Friday, while in Hong Kong, the Hang Seng index gathered 1%.

Oil prices gave back 51 cents at $40.14 U.S. a barrel.

Gold prices slipped $2.90 to $1,787.10.

ON BAYSTREET

The TSX Venture Exchange gained 7.38 points, or 1.2%, Thursday to 627.51.

ON WALLSTREET

Markets are shuttered Friday for the Fourth of July holiday.