Futures for Canada’s main stock index rose on Friday, mirroring upbeat global sentiment on optimism over a potential diplomatic resolution to the Russia-Ukraine standoff, although weaker crude prices limited gains.
The S&P/TSX Composite stumbled 207.31 points, or 1%, to wrap up Thursday at 21,176.33.
The Canadian dollar squeaked up 0.03 cents to 78.72 cents U.S.
March futures were better by 0.3% Friday.
Markets are to be closed Monday in Canada for Family Day.
RBC raised the target price on Home Capital Group to $56.00 from $54.00
RBC raised the target price on MTY Food Group to $66.00 from $62.00
Canaccord Genuity cuts the rating on Superior Plus to hold from buy.
On the economic slate, Statistics Canada said retail sales fell 1.8% to $57.0 billion in December. Lower sales at clothing and clothing accessories stores (-9.5%) and furniture and home furnishings stores (-11.3%) led the decline, which coincided with concerns over the spread of the COVID-19 Omicron variant in December.
The agency also said In January, new home prices for Canada grew by 0.9% compared with December, slightly up after the market had a brief slowdown in December. Prices were up in 15 of the 27 census metropolitan areas surveyed, and unchanged in 12.
ON BAYSTREET
The TSX Venture Exchange collapsed 10.53 points, or 1.2%, Thursday to 859.53.
ON WALLSTREET
Stock futures are little changed in pre-market trading Friday following the Dow Jones Industrial Average’s worst day of 2022 as investors dumped risk assets amid geopolitical concerns.
Futures for the 30-stock index descended 89 points, or 0.3%, to 34,142.
Futures for the S&P 500 dropped 7.25 points, or 0.2%, to 4,367.25
Futures for the NASDAQ fell 11.75 points, or 0.1%, to 14,153.
Major averages are on pace for their second negative week in a row. The Dow is down 1.2% week to date, while the S&P 500 has fallen 0.9% and the NASDAQ declined 0.5% this week.
Roku shares dropped as much as 12% in extended trading after the video-streaming company reported a revenue miss and issued a weaker-than-expected guidance.
Investors continue to be on edge about the ongoing tensions between Russia and Ukraine. The Ukrainian government and Russian state-controlled media on Friday exchanged fresh accusations of cease-fire violations at the border.
Ukraine on Thursday accused pro-Russian separatists of attacking a village near the border. In the U.S., meanwhile, Secretary of State Antony Blinken spoke to the United Nations and warned that the situation is at a “moment of peril.”
Overseas, in Japan, the Nikkei 225 lost 0.4 while in Hong Kong, the Hang Seng retreated 1.9%
Oil prices chucked $1.87 to $89.89 U.S. a barrel.
Gold prices forked over a dollar to $1,901 U.S. an ounce.