Futures for Canada’s main stock index fell on Friday, as oil prices slipped and on concerns over delays to a new U.S. stimulus package.
The TSX recovered 33.48 points to end Thursday at 17,593.34.
The Canadian dollar forefeited 0.16 cents to 78.32 cents U.S.
December futures dumped 0.8% Friday.
The Bank of Zambia will begin buying gold from First Quantum Minerals and the state mining firm as it resumes holding the precious metal as part of its foreign reserves, the central bank governor said on Friday.
Canaccord Genuity raised the price target on Acuityads Holdings to $9.50 from $7.50
TD Securities raised the rating on Dexterra Group to buy from hold.
RBC raised the rating on Scotiabank to outperform from sector perform.
ON BAYSTREET
The TSX Venture Exchange gained 4.79 points to wind up Thursday at 775.34.
ON WALLSTREET
Stock futures were lower early Friday as the outlook for additional fiscal stimulus remained uncertain.
Futures for the Dow Jones Industrials were off 170 points, or 0.6%, at 29.742.
Futures for the S&P 500 dropped 25.75 points, or 0.7%, at 3,635.
Futures for the NASDAQ Composite tumbled 89.25 points, or 0.7%, to 12,311.50.
The Dow has lost 0.7%, and the S&P 500 is down 0.8% this week, on pace for their first negative week in three. The tech-heavy NASDAQ Composite has dipped 0.5% during the same period, headed for its first losing week in four.
The S&P 500 was set to fall for a third day on Friday as negotiations over a coronavirus relief deal dragged on. Lawmakers seek to pass a bill before lifelines expire at the end of 2020, but disagreements over state and local stimulus, unemployment assistance and stimulus checks still exist.
Bucking the trend in early trading was Disney. On Thursday, the company said its Disney+ service has 86.8 million subscribers and expects have between 230 million to 260 million subscribers by 2024. The stock rose 7% in pre-market trading.
Media outlets say Senate Majority Leader Mitch McConnell’s staff informed congressional leadership offices that Senate Republicans likely would not support a $908-billion bipartisan proposal. Earlier on Thursday, House Speaker Nancy Pelosi said that bipartisan negotiations were leading to “great progress.”
The House has passed a one-week federal spending extension to avoid a shutdown through Dec. 18 to buy more time to reach a stimulus agreement.
Without fresh stimulus, millions of Americans could lose unemployment benefits in the New Year. Meanwhile, weekly jobless claims jumped last week to 853,000, the highest total since Sept. 19, as new lockdown restrictions weighed on businesses amid rising coronavirus cases.
Overseas, in Japan, the Nikkei 225 dipped 0.4% Friday, while in Hong Kong, the Hang Seng index gained 0.4%.
Oil prices gained seven cents to $46.85 U.S. a barrel.
Gold prices were unchanged at $1,837.40 U.S.