Bay Street Likely To Open On Mixed Note

(RTTNews) - Canadian shares are likely to open on a mixed note Friday morning with investors reacting to a slew of economic data, and assessing the likely move of Trump administration with regard to tariffs.

Canadian GDP data is due at 8:30 AM ET. On the U.S. economic front, personal income & spending data, Chicago PMI reading, and University of Michigan's report on U.S. consumer confidence are due this morning.

On Thursday, a U.S. federal appeals court temporarily reinstated Trump's tariffs, a day after a trade court ruled he had exceeded his authority, to consider the government's appeal.

Canadian stocks moved mostly lower over the course of the trading session on Thursday, after having moved up to a new record closing higher on Wednesday.

The benchmark S&P/TSX Composite Index ended down by 72.89 points or 0.3% to 26,210.56.

The weakness on the day came despite news that a federal court blocked President Donald Trump's "reciprocal tariffs" on imports from U.S. trade partners from going into effect. The Court Of International Trade ruled Trump overstepped his authority to impose the tariffs by invoking emergency economic powers.

Asian stocks settled mostly lower on Friday due to uncertainty surrounding a court battle about U.S. President Donald Trump's tariffs and rising concerns about U.S. economic stability.

European stocks are up in positive territory in cautious trade with investors reacting to the developments on the tariff front, and awaiting some crucial economic events next week.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.71 or 1.14% at $61.65 a barrel.

Gold futures are down $27.20 or 0.81% at $3,316.70 an ounce, while Silver futures are down $0.163 or 0.49% at $33.260 an ounce.