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Petroleum news boost Canadian futures

Baystreet.ca
Stock futures pointed to a higher opening for Canada's main stock index on Friday, as oil prices gained ...

Stock futures pointed to a higher opening for Canada's main stock index on Friday, as oil prices gained on supply concerns ahead of a November deadline for U.S. sanctions on Iranian oil.

The S&P/TSX Composite Index fell 46.89 points to wrap up Thursday at 16,002.13

The Canadian dollar faded 0.07 cents to 76.87 U.S. early Friday

September futures moved higher 0.2% Friday

Prime Minister Justin Trudeau said on Thursday he wanted a good North American Free Trade Agreement as soon as possible, but did not answer directly when asked if he agreed with Washington that the end of September was the final deadline for talks.

Lundin Mining is searching for copper mines and projects and willing to spend up to $3 billion on mergers and acquisitions, its incoming chief executive officer said in an interview on Thursday.

Canaccord Genuity cut the target price on Altagas to $24.00 from $26.00

Barclays cut the target price on Dollarama to $44.00 from $53.00

National Bank of Canada cut the rating on Transat AT to sector perform from outperform

ON BAYSTREET

The TSX Venture Exchange lost 12.26 points, or 1.7%, Thursday, to 714.24

ON WALLSTREET

U.S. stock index futures rose ahead of Friday's open as investors awaited several pieces of economic data.

Futures for the Dow Jones Industrials perked 40 points, or 0.2%, to 26,224

S&P 500 futures gained 4.5 points, or 0.2%, to 2,914.75, while futures for the NASDAQ composite picked up 26.75 points, or 0.4%, to 7,619.75

Dave & Buster's Entertainment is among the few firms announcing earnings today.

Economic data due Friday includes retail sales and import and export price indexes at 8:30 a.m. ET, followed by industrial production figures at 9:15 a.m. ET and consumer sentiment and business inventories data at 10 a.m. ET.

The future of trade relations between the U.S. and China continues to occupy investors' time. Earlier this week, sources told various media that Washington was seeking to restart trade discussions with Beijing. However, President Donald Trump said Thursday that there is no pressure to strike a trade deal with China, adding an air of caution to markets

Overseas, in Japan, the Nikkei 225 rocketed 1.2% while in Hong Kong, the Hang Seng index jumped 1%

Oil prices increased 31 cents to $68.90 U.S. a barrel.

Gold prices added two dollars to $1,210.20 U.S. an ounce.