Futures for Canada’s commodity-heavy stock index tracked losses in oil and gold on Friday as the dollar firmed on recession worries, while investors awaited data on June domestic retail sales.
The TSX added 83.93 points to close Thursday at 20,265.37.
September futures for the TSX tumbled 0.7% on Friday.
The Canadian dollar ditched 0.25 cents to 77.99 cents U.S.
A state of Michigan lawsuit that aims to force Enbridge to stop operating the Line 5 oil pipeline underneath the Straits of Mackinac in the Great Lakes will be heard in federal court, a judge ruled on Thursday.
JP Morgan raised the target price on Canadian Solar to $48.00 from $42.00
Stifel FirstEnergy raised the target price on Crew Energy to $10.00 from $8.00
CIBC raised the target price on Karora Resources to $4.5 from $4.25.
On the economic front, Statistics Canada said Retail sales increased 1.1% to $63.1 billion in June, the sixth consecutive increase.
Sales were up in eight of 11 subsectors and were led by higher sales at gasoline stations and motor vehicle and parts dealers.
The TSX Venture Exchange gained 2.53 points to end Thursday at 662.61.
Stock futures were lower on Friday, dimming hopes that the S&P 500 could grind out another positive week.
Futures for the Dow Jones Industrials faded 239 points, or 0.7%, early Friday to 34,742.
Futures for the S&P 500 subtracted 38.5 points, or 0.9%, to 4,248.00
Futures for the NASDAQ Composite gave back 140.5 points, or 1%, to 13,382.75.
For the week, the S&P 500 entered Friday’s session up just 0.08%, and the Dow was up 0.7% in that time. The tech-heavy NASDAQ came into Friday riding a 0.6% weekly loss. The S&P 500 has posted a gain in each of the last four weeks.
There are no major economic reports due out on Friday, but traders are still parsing through some key earnings. Applied Materials shares rose slightly in the premarket on the back of a better-than-expected quarterly report.
In Japan, the Nikkei 225 index gave up 11 points, while in Hong Kong, the Hang Seng index eked up 0.1%,
Oil prices gained 97 cents to $89.08 U.S. a barrel.
Gold prices picked up $6.20 to $1,782.90 U.S. an ounce.
S&P in Danger of Ending 4-Week Win Streak