Futures for Canada’s main stock index fell on Friday as precious metals prices dropped amid fears that the U.S. Federal Reserve and other central banks would stick to their aggressive rate-hike approach to curb inflation.
The TSX Composite slumped 95.11 points to conclude Thursday at 18,579.29.
December futures faded 0.6% on Friday.
The Canadian dollar dipped 0.3 cents to 72.28 cents U.S.
On the economic beat, Statistics Canada reports its new home prices in Canada declined 0.1% in September—the first decrease since November 2019.
Retail trade increased 0.7% to $61.8 billion in August. Sales increased in six of 11 subsectors, led by sales in food and beverage stores and motor vehicle and parts dealers.
The TSX Venture Exchange dropped 0.48 points to 586.91.
Stock futures fell Friday as investors assessed more corporate earnings reports and higher U.S. bond yields.
Futures the Dow Jones Industrials stumbled 217 points, or 0.7%, to 30,136.
Futures for the S&P 500 ducked 29.75 points, or 0.8%, to 3,645.50.
Futures for the NASDAQ Composite slumped 146.5 points, or 1.3%, to 10,944.25.
Those moves came Snap reported a quarterly revenue of $1.13 billion, below expectations. That revenue represents year-over-year growth of just 6%. Average revenue per user, a key metric for the company, fell 11% to $3.11.
Dow component American Express fell more than 4% in premarket trading after its quarterly report.
Meta Platforms shares fell nearly 4% in the premarket, while Alphabet dipped 1.8%.
Tesla investors are caught in a tough situation as Elon Musk could sell more of his company’s stock to fund his Twitter deal.
Musk is expected to sell a portion of his considerable shares in Tesla to help finance the close of that $44 billion take private deal. Experts said Musk might need to sell an additional $5 billion to $10 billion in Tesla stock.
In Japan, the Nikkei 225 docked 0.4% Friday, while in Hong Kong, the Hang Seng Index also lost 0.4%.
Oil prices dipped 13 cents to $84.38 U.S. a barrel.
Gold prices lost $14.00 to $1,622.80 U.S. an ounce.