Bay Street May Open With Slightly Negative Bias

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(RTTNews) - Canadian shares may open with a negative bias Friday morning as energy and materials stocks are likely to be under some pressure due to lower commodity prices. Canadian retail sales data may provide some direction.

Final report on Canadian retail sales for the month of December, and preliminary Canadian retail sales numbers for the month of January are due at 8:30 AM ET.

In earnings news, Emera Incorporated (EMA.TO) reported fourth-quarter net income of $154 million, or $0.52 per common share, compared with net income of $289 million, or $1.04 per common share, in the year-ago quarter.

Onex Corporation (ONEX.TO) reported net loss of $2 million for the quarter ended December 2024, compared to net earnings of $373 million in the year-ago quarter.

Iamgold Corporation (IMG.TO) reported fourt-quarter net earnings of and adjusted net earnings per share of $0.15 and $0.10, respectively.

Canadian stocks closed weak on Thursday, weighed down by fears of fresh levies by the Trump administration on more goods sometime soon.

The U.S. President, who previously announced duties on cars, semiconductors and pharma products imported into America, has announced plans to unveil fresh tariffs on lumber and forest products, which could significantly hurt Canada.

Investors reacted to a slew of corporate earnings updates and digested the nation's producer prices data.

The benchmark S&P/TSX Composite Index ended with a loss of 112.08 points or 0.44% at 25,514.08, nearly 80 points off an early low of 25,436.88.

Asian stocks ended mixed on Friday as tariff worries offset investor optimism over China's artificial intelligence potential. Also, U.S. President Donald Trump's comments have raised hopes of a de-escalation in the trade war between the world's two largest economies.

Trump told reporters that a trade deal with China "is possible" in an interview aboard Air Force One.

European stocks are up in positive territory with investors digesting the regional PMI data, and reacting to more quarterly earnings updates.

In commodities, West Texas International Crude oil futures are down $0.74 or 1.02% at $71.83 a barrel.

Gold futures are down $9.70 or 0.33% at $2,946.40 an ounce, while Silver futures are lower by $0.141 or 0.42% at $33.345 an ounce.

U.S. Consumer Confidence Deteriorates For Fifth Straight Month In December

Consumer confidence in the U.S. deteriorated for the fifth consecutive month in December, according to a report released by the Conference Board on Tuesday. The Conference Board said its consumer confidence index slid to 89.1 in December from an upwardly revised 92.9 in November.

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U.S. Industrial Production Rises 0.2% In November, Slightly More Than Expected

A report released by the Federal Reserve on Tuesday showed industrial production in the U.S. increased by slightly more than expected in the month of November. The Fed said industrial production rose by 0.2 percent in November after edging down by 0.1 percent in October. Economists had expected industrial production to inch up by 0.1 percent.

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U.S. Economy Grows Much More Than Expected In Q3

A report released by the Commerce Department on Tuesday showed the U.S. economy grew by much more than expected in the third quarter of 2025. The Commerce Department said real gross domestic product spiked by 4.3 percent in the third quarter after surging by 3.8 percent in the second quarter. Economists had expected GDP to jump by 3.3 percent.

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U.S. Durable Goods Orders Plunge 2.2% In October, More Than Expected

Reflecting a steep drop in orders for transportation equipment, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured durable goods fell by more than expected in the month of October. The report said durable goods orders tumbled by 2.2 percent in October after climbing by an upwardly revised 0.7 percent in September.

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U.S. Industrial Production Rises Slightly More Than Expected In November

A report released by the Federal Reserve on Tuesday showed industrial production in the U.S. increased by slightly more than expected in the month of November.

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Gold Rises To Fresh Record High On Safe-haven Buying

Gold prices surged to fresh record highs Tuesday morning on safe-haven buying amid escalating US-Venezuela tensions, and somewhat fading possibility of any quick end to the Russia-Ukraine war. A weak dollar contributed as well to the yellow metal's rise.

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TSX May Climb To Fresh Record Highs

Canadian shares look set to extend recent gains, and the benchmark S&P/TSX Composite is seen climbing to new highs Wednesday morning as metal stocks may see another round of buying, tracking firm precious metal prices.

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U.S. Gross Domestic Product Spikes Much More Than Expected In Q3

A report released by the Commerce Department on Tuesday showed the U.S. economy grew by much more than expected in the third quarter of 2025.

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EURUSD	1.17747	GBPUSD	1.34799	AUDUSD	0.6693
USDJPY	156.356	USDCAD	1.37147	USDCHF	0.78925