Jul 13, 2018 (Baystreet.ca via COMTEX) —
Stock futures pointed to a higher opening for Canada’s main stock index on Friday ahead of the quarterly earnings season.
The S&P/TSX Composite Index popped 150.1 points to end Thursday’s session at 16,567.42, surpassing Tuesday’s all-time record close
The Canadian dollar dipped 0.14 cents at 75.8 cents U.S. early Friday
September futures crept up 0.05% Friday
Sun Life Financial recently started covering medical marijuana in its Canadian health insurance plan – more than 17 years after the country first legalized it.
CIBC raised the price target on IGM Financial to $48.00 from $45.00
JP Morgan raised the target price on Vermilion Energy to $63.00 from $49.00
The TSX Venture Exchange gained 0.78 points Thursday to 728.97.
U.S. stock index futures hovered around the flat line on Friday as Wall Street looked to earnings reports from major banks.
Futures for the Dow Jones Industrials gained but 12 points, or 0.1%, to 24,906
S&P 500 futures subtracted 0.75 points to 2,797.75, while futures for the NASDAQ composite picked up 3.5 points to 7,386.25
While concerns about a potential broadening trade war between the U.S. and major economies keep investors on edge, Friday will see the release of a number of major corporate earnings.
Before the bell, Citigroup, Wells Fargo, First Republic Bank, Infosys, and PNC Financial Services Group will publish their latest financial results.
J.P. Morgan Chase reported better-than-expected earnings, sending its shares higher by 1%.
On the data front, import prices are due out this morning, followed by consumer sentiment. Elsewhere, the U.S. Federal Reserve is expected to publish its latest Monetary Policy Report to Congress.
This comes prior to Fed Chair Jerome Powell’s testimony next week before the House Financial Services Committee and the Senate Banking Committee.