TSX to Gain Friday - InvestingChannel

TSX to Gain Friday

Canada’s resource-heavy main stock index was set to extend gains on Friday as commodity prices firmed, with investor focus on a slew of results and economic growth data that could influence the central bank’s rate-hike plans.

The TSX barreled ahead 202.15 points, or 1.1%, to close Thursday at 19,456.71.

Futures for the TSX jumped 0.5% Friday.

The Canadian dollar bowed 0.2 cents to 77.88 cents U.S.

On the economic calendar, Statistics Canada reported real gross domestic was essentially unchanged in May as growth in services-producing industries was offset by declines in goods-producing industries.

ON BAYSTREET

The TSX Venture Exchange rocketed 15.65 points, or 2.5%, to 635.41.

ON WALLSTREET

Stock futures rose Friday as Wall Street looked to finish the week and the month higher.

Futures for the Dow Jones Industrials gathered 84 points, or 0.3%, early Friday to 32,574.

Futures for the S&P 500 gained 27.75 points, or 0.7%, to 4,101.25.

Futures for the NASDAQ Composite zoomed 127 points, or 1%, to 12,864.50.

Wall Street was set to post strong weekly gains. The Dow is now up nearly 2% for the week, while the S&P 500 the NASDAQ Composite are up 2.8%.

Futures Thursday were supported by gains from two of the market’s biggest stocks. Amazon shares popped 12% after the e-commerce giant reported stronger-than-expected sales for the previous quarter, while Apple climbed 2.6% after posting better-than-expected iPhone revenue.

Chevron and Exxon Mobil also posted better-than-expected results for the previous quarter, sending their shares higher.

However, the latest batch of corporate results has been mixed.

Shares of Roku sank more than 20% after the company missed estimates and warned of a slowdown in advertising. Chipmaker Intel dropped 7% after its quarterly results fell short of expectations.

These moves come after a three-quarters of a percentage point hike from the Federal Reserve on Wednesday and a negative GDP reading on Thursday.

In Japan, the Nikkei 225 dipped 0.1% Friday. In Hong Kong the Hang Seng fumbled 2.3%

Oil prices gushed $2.24 to $98.66 U.S. a barrel.

Gold prices brightened $6.80 to $1,757.10 U.S. an ounce.

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