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Higher Open to November

Stock futures pointed to a higher opening for Canada’s main stock index on Friday, supported by gains in oil prices on the back of a surprise bounce in Chinese factory activity.

The TSX Composite Index retreated 18.27 points to close Thursday at 16,483.16

The Canadian dollar edged higher 0.01 cents to 75.95 cents U.S. early Friday

December futures crept up 0.06% early Friday.

An estimated 9,120 barrels of oil have spilled from TC Energy Corp’s Keystone crude pipeline in North Dakota, state authorities said on Thursday, a major leak at a time of increased regulatory scrutiny of oil pipeline expansions.

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Hudson’s Bay Co shareholder Catalyst Capital Group has opposed an agreed deal by the struggling Canadian department store operator with a group led by executive chairman Richard Baker to be taken private.

Enbridge on Thursday won backing from a Michigan state court to permit a 66-year-old crude oil pipeline to continue to run under a state waterway, pushing back authorities’ efforts to have the pipeline decommissioned.

CIBC cut the target price on Bombardier to $3.00 from $3.25

CIBC then raised the target price on SNC-Lavalin Group to $29.00 from $25.00

On the economic calendar, the Markit Purchasing Managers Index for manufacturing is out for October about 9:30 ET this morning.

ON BAYSTREET

The TSX Venture Exchange nosed higher 0.09 points Thursday to 538.34

ON WALLSTREET

U.S. stock index futures moved higher Friday morning ahead of key readings on monthly jobs numbers and the manufacturing sector.

READ: 3 Big Tech Trends To Watch In 2020

Futures for the Dow Jones Industrials grew 28 points, or 0.1%, early Friday to 27,010

Futures for the S&P 500 inched up 3.25 points at 3,039

NASDAQ Composite gathered eight points, or 0.1%, to 8,098.25

The corporate earnings season continued on Friday, with Exxon Mobil reporting earnings that topped analyst expectations. Exxon Mobil shares climbed 1.2% in the pre-market.

U.S. Steel shares rose around 5% after the company posted Thursday afternoon a smaller-than-expected quarterly loss. Qorvo also reported better-than-expected results and issued strong guidance for the current quarter, sending its stock up more than 10%.

Around 70% of S&P 500 companies have reported quarterly numbers thus far. Of those companies 75% have reported better-than-expected earnings.

The U.S. Labor Department told investors that the economy created 128,000 jobs in October, causing the unemployment rate to tick higher to 3.6%. Economists polled by Dow Jones expected a gain of 75,000 jobs for the previous month.

At 10 a.m. ET, the Institute for Supply Management is expected to release data on U.S. manufacturing activity for October. U.S. manufacturing fell to its lowest level in a decade in September amid lingering worries around U.S.-China trade talks.

Overseas, in Japan, the Nikkei 225 index sagged 0.3% Friday, while in Hong Kong, the Hang Seng Index gained 0.7%,

Oil prices gained 38 cents to $54.56 U.S. a barrel.

Gold prices sank $1.30 to $1,513.30 U.S. an ounce.