Bay Street Likely To Open On Mixed Note; Jobs Data In Focus
(RTTNews) - It's likely to be a mixed start for stocks on Bay Street Friday morning, with investors digesting the nation's employment data, and reacting to news about Middle East war, the upcoming diplomatic talks and the trend in the commodities market.
Canada's employment data for the month of March is due at 8:30 AM ET. A report on average hourly wages is also due at 8:30 AM ET.
In earnings news, Cogeco Cable reported EPS of $1.96 for the second quarter, compared with $1.90 in the previous quarter.
Richelieu Hardware reported earnings per share of $0.26 for the first quarter, compared with $0.25 in the previous quarter
The Canadian market ended weak on Thursday, as crude oil prices climbed higher due to renewed supply disruption concerns after Iran restricted vessel traffic through the Strait of Hormuz.
The benchmark S&P/TSX Composite Index gained ground early in the session but lost momentum to trade lower throughout the rest of the session before settling at 33,477.71, down by 142.86 points or 0.42%.
Asian stocks ended mixed on Friday amid lingering tensions around Israeli strikes across Lebanon and the blockade of the Strait of Hormuz, despite the ceasefire agreement.
According to ship-tracking data, just seven ships passed through the strait in the past 24 hours against a normal daily flow of around 140.
The major European markets are up in positive territory today with investors hoping for a positive outcome from the upcoming U.S.-Iran diplomatic talks this weekend.
Still, with the Strait of Hormuz largely closed, and Israel continuing to launch strikes in Lebanon, the mood in the markets remain largely subdued.
In commodities trading, West Texas Intermediate Crude oil futures are up $0.14 or 0.14% at $98.01 a barrel.
Gold futures are down $27.60 or 0.57% at $4,790.40 an ounce, while Silver futures are down $0.648 or 0.85% at $75.790 an ounce.
