Bay Street Likely To Open On Slightly Volatile Note

(RTTNews) - Canadian shares are likely to open on a slightly volatile note Friday morning with investors reacting to crucial economic data from both sides of the border and continuing to assess the impact of Trump's tariff moves.

Final data on Canadian GDP for January, and a preliminary February GDP estimate, U.S. PCE readings are the key economic data in focus today.

Aya Gold & Silver (AYA.TO) reported fourth-quarter net loss of US$30.0 million, or US$0.23 per share, compared with net income of US$3.6 million, or US$0.03 per share, recorded in the year-ago quarter.

The Canadian market settled flat on Thursday as investors made cautious moves while assessing the impact of U.S. President Donald Trump's 25% tariffs on imported vehicles effective April 3rd, and the impending announcement of reciprocal tariffs.

Trump also posted on his Truth Social Platform that he will impose even steeper tariffs on the European Union and Canada if they collaborate to harm the U.S. economy.

The benchmark S&P/TSX Composite Index settled at 25,161.06, exactly at previous session's closing figure. The index dropped to a low of 25,023.79 in early trades, and despite recovering to 25,205.59 by mid morning, struggled to move higher.

Asian stocks ended mostly lower on Friday as investors held to the sidelines, awaiting cues from the release of the Fed's preferred inflation gauge later in the day and the U.S. reciprocal tariffs set to take effect on April 2.

Japanese markets ended at a two-week low on concerns that Trump's tariffs could hit domestic production and auto sector jobs.

Adding to investor anxiety, data showed Tokyo's inflation quickened to 2.9% in March from 2.8% in February, keeping the Bank of Japan on rate hike path.

European stocks are broadly lower with investors reacting to regional economic data and continuing to weigh the potential impact of Trump's new tariffs, and his threat that he would impose far higher levies in the event of the EU attempting retaliatory moves.

In commodities, West Texas Intermediate Crude oil futures are up marginally at $69.98 a barrel.

Gold futures are up $18.50 or 0.6% at $3,109.40 an ounce, while Silver futures are gaining $0.227 or 0.65% at $35.310 an ounce.