Commodity Prices, Jobs Data In Focus

(RTTNews) - Lower Canadian and U.S. futures point to a negative start on Bay Street Friday morning, but fairly strong commodity prices could trigger some buying in resources stocks and limit market's downside.

Canadian jobs data, due at 8:30 AM ET, may well set the trend for the market.

Ensign Energy Services Inc. (ESI.TO), reported funds flow from operations of C$88.221 million, or C$0.47 per share in the three months to September 2025, less than C$116.914 million, or $0.63 per share, in the same period last year.

Onex Corp. (ONEX.TO) reported third-quarter net earnings of $39 million, or $0.57 a share, compared to $127 million, or $1.68 a share, last year.

Brookfield Asset Management Ltd. (BAM) reported third-quarter earnings of $724 million or $0.44 per share, compared to $544 million or $0.34 per share in the year-ago quarter.

The Canadian market ended on a weak note on Thursday as investors resorted to profit-taking. Worries about growth due to the 35% tariffs imposed by the Trump administration on majority of Canada's exports to the U.S. hurt sentiment.

The benchmark S&P/TSX Composite Index settled at 29,868.59, down by 234.89 or 0.78%.

Data released by Ivey Business School today revealed that Canada's Ivey Purchasing Managers Index fell to 52.4 in October from 59.8 in September, missing expectations of 55.2.

Asian stocks declined on Friday as U.S. job data signaled weakness in the country's labor market and customs data showed Chinese exports unexpectedly fell in October after months of frontloading U.S. orders to beat President Donald Trump's tariffs.

Traders also weighed cautious comments from Federal Reserve officials expressing hesitation about continuing with further interest rate cuts.

The major European markets are down in negative territory amid concerns about growth and uncertainty over central banks' future policy moves.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.58 or 0.98% at $60.01 a barrel.

Gold futures are gaining $21.70 or 0.54% at $4,012.70 an ounce, while Silver futures are up $0.575 or 1.2% at $48.525 an ounce.