Dec 13, 2024 (Baystreet.ca via COMTEX) --
Futures linked to Canada's main stock index rose on Friday, lifted by crude prices, after the benchmark index saw a wider selloff in the previous session.
The TSX dumped 246.99 points, or 1%, to close Thursday at 25,410.71
December futures hiked 0.2% Friday.
The Canadian dollar eked higher 0.02 cents to 70.36 cents U.S.
In corporate news, the U.S. Federal Reserve said on Thursday it had approved an application by Scotiabank to buy up to 14.99% of the voting shares in U.S. regional lender KeyCorp, as the Canadian bank looks to boost its exposure to developed markets.
In economic news, motor vehicle sales registered at 163,600 in October, less than the 166,600 figures from August. Manufacturing numbers increased 2.1% in October, mainly on higher sales of petroleum and coal products as well as of transportation equipment. Sales in the paper subsector declined the most. Wholesale sales rose 1.0% to $83.7 billion in October.
ON BAYSTREET
The TSX Venture Exchange slid 4.72 points Thursday to 611.88.
ON WALLSTREET
Stock futures were higher Friday morning following a losing session on Wall Street.
Futures for the Dow Jones Industrial average grabbed 55 points, or 0.1%, to 44,032.
Futures for the S&P 500 moved up 21.75 points, or 0.4%, to 6,082.50
Futures for the tech-heavy NASDAQ pumped higher 179.25 points, or 0.8%, to 21,830.50.
Broadcom gained more than 17% after posting fiscal fourth quarter adjusted earnings that beat estimates and reporting that artificial intelligence revenue soared 220% for the year. Micron, Nvidia and AMD followed Broadcom higher in early trading.
The moves come on the heels of a losing session on Wall Street. The 30-stock Dow dropped 234 points, or about 0.5%, falling for a sixth consecutive day and marking its longest losing streak since April. The NASDAQ Composite fell nearly 0.7% and broke below the 20,000 mark as technology stocks such as Nvidia slumped, while the S&P 500 edged down about 0.5%.
For the week, the Dow is heading for a 1.6% decline, while the S&P 500 is on pace for slide of 0.6%. The NASDAQ has outperformed, on track for a 0.2% advance for the period.
Friday marks a light day for economic data, with November import and export data due out.
In Japan, the Nikkei 225 dropped 1% Friday, while in Hong Kong, the Hang Seng subtracted 2.1%
Oil prices gained 25 cents to $70.27 U.S. a barrel.
Gold prices slid $21.70 to $2,687.70 U.S. an ounce.
COMTEX_460812342/2559/2024-12-13T08:42:18
