Futures Sink Friday

Nov 09, 2018 (Baystreet.ca via COMTEX) —

Canada’s main stock index futures fell on Friday, as a fall in oil prices due to increased global supply of crude dragged down energy shares.

The S&P/TSX Composite Index dipped 11.96 points to close Thursday’s trading at 15,357.47

The Canadian dollar plummeted 0.28 cents at 75.81 U.S. early Friday

December futures were down 0.5% Friday.

Reports say U.S. cannabis retailer Harvest Enterprises Inc is set to raise $303 million in a deal that would value the company at about $1.5 billion U.S. when it goes public in Toronto as early as next week,

Germany’s antitrust regulator on Friday approved the planned merger of department store chains Kaufhof and Karstadt, owned by Hudson’s Bay Co and Austria’s Signa Holding.

Barclays raised the target price on Canadian Tire to $193 from $190

RBC raised the rating on Industrial Alliance Insurance to outperform from sector perform

Canaccord Genuity raised the rating Precision Drilling to buy from hold

Canaccord Genuity cut the rating Trinidad Drilling to hold from buy

CIBC cut the rating on Stantec to neutral from outperform

ON BAYSTREET

The TSX Venture Exchange lost 4.94 points Thursday to 667.06

ON WALLSTREET

U.S. stock futures pointed to a negative open on Friday as investors further losses in oil prices sparked fears of a global economic slowdown as the Federal Reserve

Futures for the Dow Jones Industrials fell 97 points, or 0.4%, to 26,102

S&P futures slid 11.25 points, or 0.4%, to 2,797.50, while the NASDAQ Composite dipped 48.5 points, or 0.7%, to 7,117.50.

On the earnings front, Yelp shares plunged more than 31% in the pre-market after releasing its latest quarterly results. Dow-member Disney, meanwhile, rose 2.1% on the back of better-than-expected results.

Meanwhile, in data, the Bureau of Labor Statistics releases its producer price index

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