Baystreet.ca - Futures tied to Canada's main stock index were subdued on Friday, as cautious investors awaited more details on U.S. tariff plans.
The TSX Composite Index plowed ahead 135.4 points Thursday to 25,698.51.
Futures were up 0.1% early Friday.
The Canadian dollar gained 0.3 cents to 70.49 cents U.S. early Friday.
U.S. President Donald Trump has instructed his economic team to create plans for reciprocal tariffs on countries that tax U.S. imports, heightening the risk of a global trade war with American friends and foes.
This directive, issued on Thursday, starts a potentially lengthy investigation into tariffs on U.S. goods by other nations, rather than immediate new tariffs.
In corporate news, pipeline operator TC Energy (TSX:TRP) beat estimates for fourth-quarter profit on Friday.
On the economic front, motor vehicle sales are on investors’ radar screens. That figure declined to 135,500 in December from 161,500 in November. As well, wholesale sales fell 0.2% to $83.6 billion in December.
Manufacturing sales rose 0.3% in December, driven primarily by higher sales of petroleum and coal as well as food products.
Markets on both sides of the border are closed Monday, for Family Day in Canada, for Presidents Day in the States.
ON BAYSTREET
The TSX Venture Exchange grabbed 6.3 points, or 1% Thursday, to 647.92
ON WALLSTREET
Stocks futures were slightly lower on Friday as investors weighed the latest on global trade after President Donald Trump held off on imposing new reciprocal tariffs.
Futures for the Dow Jones Industrials dropped 112 points, or 0.3%, to 44,698
Futures for the S&P 500 lost 11.25 points or 0.2%, to 6,124.75.
Futures for the tech-heavy NASDAQ fell 53.75 points, or 0.2%, to 22,059.50.
For now, the major averages are all on pace to end the week higher. The S&P 500 is set to pick 1.5% and the Dow is set for a gain of about 0.9%. The NASDAQ is 2.2% higher week to date.
On Thursday, Trump signed a memorandum on laying out a plan to impose levies on goods from countries with duties on U.S. products. The new tariffs on take effect immediately.
Instead, Trump tasked Commerce Secretary nominee Howard Lutnick to lead studies on the appropriate levies for each country.
In Japan, the Nikkei 225 backtracked 0.8%, while in Hong Kong, the Hang Seng ballooned 3.7%.
Oil prices gained 39 cents to $71.68 U.S. a barrel.
Gold prices gained $7.60 to $2,953 U.S. an ounce.