Stocks Set to Slump into Month’s End

Futures for Canada's main stock index fell on Friday, as gold lost ground and downbeat mood on Wall Street after disappointing overnight forecasts spilled over.

The TSX leaped 155.92 points to adjourn Thursday at 20,522.64.

June futures on the S&P/TSX index declined 0.4% Friday morning.

The Canadian dollar stepped bank 0.02 cents to 73.27 cents U.S.

TC Energy beat analysts' estimate for first-quarter profit as elevated energy prices boosted demand for the pipeline operator's services.

National Bank of Canada upgraded Bombardier to "outperform" from "sector perform."

On the economic slate, Statistics Canada reported Gross Domestic Product edged up 0.1% in February as both services-producing industries and goods-producing contributed to the increase.

ON BAYSTREET

The TSX Venture Exchange regained 3.70 points Thursday to 606.28.

ON WALLSTREET

U.S. stock futures fell Friday as investors digested the latest round of corporate earnings, including results from Amazon.

Futures for the Dow Jones Industrials retreated 105 points, or 0.3%, at 33,824.

Futures for the S&P 500 faltered 12 points, or 0.3%, to 4,141.75.

Futures for the NASDAQ Composite sank 30.5 points, or 0.2%, to 13,200.75.

Amazon shares were down more than 2% after initially rising. The online retailer said its cloud business decelerated when reporting first-quarter results, though it did beat Wall Street’s expectations for revenue for the quarter.

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Meanwhile, Snap tumbled 18% in extended trading following a revenue miss. Pinterest shares fell almost 14% after issuing disappointing second-quarter revenue growth expectations.

The earnings season has been better than expected. Of the 261 S&P 500 companies that have reported earnings, about 80% have reported positive surprises.

On the more positive side, Intel shares climbed more than 5% after the semiconductor firm beat estimates on the top and bottom lines.

Investors are coming off a strong trading session for the major averages, with the Dow Jones Industrial Average and S&P 500 notching their best day since January. Meanwhile, the NASDAQ Composite jumped 2%, posting its best day since March.

Those gains come after a better-than-expected report from Meta fueled a rally in tech stocks. Investors appeared to shake off light GDP data that could signal the Federal Reserve’s rate-hiking campaign may soon come to an end.

On the economic front, traders will watch for the latest personal income and spending data, due out Friday before the open. Economists polled by Dow Jones are expecting core prices to have risen 0.3% in March from the prior month. That’s in line with the prior reading.

The final reading of the April consumer sentiment data is also set to be released Friday at 10 a.m. ET. It’s expected to show a reading of 63.5, which is the same as the previous readout.

In Japan, the Nikkei 225 picked up 1.4% Friday, while in Hong Kong, the Hang Seng advanced 0.3%.

Oil prices took on 32 cents to $75.08 U.S. a barrel.

Gold prices spiked $6.60 to $1,992.40 U.S. an ounce.