Bay Street May Open On Positive Note
(RTTNews) - The Canadian market may open on a positive note on Friday as technology stocks are likely to see some brisk buying thanks to encouraging earnings guidance from U.S. tech majors Apple Inc., and Amazon.
Data from Statistics Canada showed Canadian real gross domestic product dropped 0.3% in August.
According to preliminary estimates, GDP increased to 0.1% in September from -0.3% in August.
TFI International Inc. (TFI.TO) reported a net income of $84.7 million or $1.02 per share for the third quarter, compared to $125.9 million or $1.48 per share in the year-ago quarter.
The Canadian market closed marginally up on Thursday, paring early gains, amid a negative reaction to earnings news from tech giants Meta Platforms and Microsoft.
The benchmark S&P/TSX Composite Index ended up by 34.20 points or 0.1% at 30,178.98.
Asian stocks closed mixed on Friday with investors reacting to data showing a contraction in Chinese factory activity for a seventh straight month in October. Easing U.S.-China trade tensions helped limit market's downside.
The major European markets are showing weakness today with investors largely trimming their positions amid a lack of fresh earnings and economic data.
In commodities trading, West Texas Intermediate Crude oil futures are down $0.16 or 0.25% at $60.41 a barrel.
Gold futures are gaining $20.20 or 0.5% at $4,036.10 an ounce, while Silver futures are up $0.149 or 0.31% at $48.675 an ounce.
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