Aug 08, 2025 (Baystreet.ca via COMTEX) --
Futures tied to Canada's main stock index edged higher on Friday, as investors monitored corporate earnings and U.S. President Donald Trump's nomination for the open spot on the Federal Reserve's governing board.
The TSX Composite Index docked 159.6 points to conclude Thursday at 27,761.27.
Futures gained 0.2% Friday.
The Canadian dollar dipped 0.03 cents to 72.79 cents U.S.
Trump said he would nominate Council of Economic Advisers Chairman Stephen Miran to serve out the final months of the newly vacant seat while the White House looks for a permanent addition to the governing board and a new Fed Chair.
In the macroeconomic world, Statistics Canada reported the economy lost 41,000 jobs in July and the unemployment rate was unchanged at 6.9%.
ON BAYSTREET
The TSX Venture Exchange regained 2.44 points Thursday to 789.05.
ON WALLSTREET
U.S. stock futures ticked higher on Friday after the Dow Jones Industrial Average logged its second losing day in the past three.
Futures for the 30-stock index grew 124 points, or 0.3%, to 44,202.
Futures for the S&P 500 obtained 22 points, or 0.4%, to 6,388.50
Futures for the NASDAQ jumped 79.5 points, or 0.5%, to 23,618.50.
In Thursday's regular trading, the 30-stock Dow closed down about 224 points, or 0.5%, while the S&P 500 ended the session off 0.08%. The NASDAQ outperformed and added nearly 0.4%. The blue-chip Dow saw some sharp swings during the day, up 305 points at its high and down nearly 394 points at its low.
The major averages are on pace for weekly gains, with the S&P 500 up 1.6% and the Dow on pace for a 0.9% advance. The NASDAQ is poised for a 2.9% climb.
Wendy's shares fell almost 1% in early trading Friday after the fast-food restaurant chain slashed its forecast for the full year.
President Donald Trump's "reciprocal" tariffs took effect at midnight on Thursday, with some of the steepest duties including Syria's 41% and the 40% rate facing Laos and Myanmar.
Stocks initially rose Thursday morning after Trump announced a day earlier that his 100% tariff on imported semiconductor chips would not affect companies that are "building in the United States."
On Thursday afternoon, the president announced that he has selected Stephen Miran, chair of the Council of Economic Advisors, as his pick to replace Adriana Kugler on the Federal Reserve Board of Governors. Miran will serve out the rest of Kugler's term, which expires in January, following her resignation last Friday.
In Japan, the Nikkei 225 index gained 1.9% Friday, while in Hong Kong, the Hang Seng stepped back 0.9%.
Oil prices captured 21 cents to $64.09 U.S. a barrel.
Gold prices hiked $22.09 at $3,476.50 U.S. per ounce.
COMTEX_467885613/2559/2025-08-08T08:42:12
