Bay Street Likely To Open On Mixed Note

(RTTNews) - Canadian shares are likely to see a mixed start Friday morning, tracking slightly higher commodity prices and weak Asian and European markets.

Canadian jobs data is likely to make a significant impact on sentiment.

Canadian jobs data for the month of August is due at 8:30 AM ET. A report on average hourly wages in Canada is also due at 8:30 AM ET.

Employment in Canada decreased by 6,400 jobs in July. Full-time employment in Canada rose by 1,700 jobs in July following a five-month high of a 109,600 increase in June.

The unemployment rate in Canada edged higher to 5.5% in July from 5.4% in the previous month.

The Canadian stock market ended weak on Thursday, weighed down by losses in consumer staples, technology and communications sectors.

Financials, materials and consumer discretionary stocks declined as well, while shares from utilities sector posted strong gains.

The mood remained cautious amid lingering concerns about global economic slowdown and inflation.

The benchmark S&P/TSX Composite Index ended down 94.88 points or 0.47% at 20,132.08, settling lower for the third consecutive day. The index, which dropped to a low of 20,119.40 around mid morning, stayed in negative territory right through the day's session.

Asian stocks fell on Friday amid lingering worries about tighter U.S. Federal Reserve policy and slowing global growth.

The U.S. dollar edged lower in Asian trading but was on track to post its eighth weekly gain. Oil prices were muted but headed for another weekly gain on signs of tight supply.

Chinese shares fell slightly, weighted down by the gloomy trade data released the previous day and escalating Sino-U.S. tensions as Beijing eyed broadening the iPhone ban to state firms and agencies.

Japanese shares tumbled after government data showed Japan's GDP grew less than earlier estimated in the last quarter and wages slumped in July, underscoring the fragile state of the country's economy.

European stocks are weak, extending recent losses amid concerns over increasing Sino-U.S. tensions, slowing global growth and uncertainty over the path of U.S. monetary policy.

In commodities, West Texas Intermediate Crude oil futures are up $0.71 or 0.82% at $87.58 a barrel.

Gold futures are up $4.90 or 0.25% at $1,947.40 an ounce, while Silver futures are up $0.040 or 0.17% at $23.280 an ounce.