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.