Bay Street Might Trend Down At Open
The crude oil might continue to witness volatility and crude oil futures are gaining 0.13 percent at 75.50. Gold Futures is down 2.4 points or 0.13 percent at 1824.4.
During the European session, the U.S. dollar climbed against its major counterparts.
There are no major Canadian Economic announcements on Friday.
S&P/TSX Composite Index finished at 20,188.19 on Thursday, down 5.14 points or 0.03 percent.
In the corporate sector, Canadian Solar Inc. announced a surge in preliminary profit for the fourth quarter, amidst an increase in revenue. The Guelph-headquartered firm reported a preliminary net income of around $70 million, compared with $25.96 million, recorded for the last quarter of 2021.
Preliminary revenue stands at around $1.97 billion, higher than the previous year’s $1.53 billion. Looking ahead, for the first quarter, the company expects revenue of $1.6 billion – $1.8 billion.
Federal, Ontario, and Atlantic Canadian governments signed agreements on healthcare funding. The federal government will offer more than $46 billion in new healthcare money for the provinces and territories over the next ten years.
The U.S. Justice Department or DOJ has accused Alphabet Inc.’s Google of deleting internal corporate communication that would have served as evidence in the government’s antitrust case against the search business. Google reportedly said that it strongly refuted the DOJ’s allegations.
In another development, reports said Google has blocked 4 percent of Canadians from accessing Canadian news outlets.
On the U.S. economic front, the New Home Sales for January will be published at 10.00 am ET. The consensus is 617k, while it was up 616k in the previous month.
European shares are trading lower on Friday. CAC 40 of France is down 62.84 points or 0.86 percent. DAX of Germany is declining 143.60 points or 0.93 percent. FTSE 100 of England is down 3.11 points or 0.04 percent. The Swiss Market Index is sliding 31.19 points or 0.28 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 1.00 percent.
Asian stocks ended mixed on Friday. Chinese shares fell notably lower. The benchmark Shanghai Composite index dropped 0.62 percent to 3,267.16 while Hong Kong’s Hang Seng index fell 1.68 percent to 20,010.04.
Japanese shares rose today. The Nikkei average jumped 1.29 percent to 27,453.48. The broader Topix index closed 0.67 percent higher at 1,988.40.
Australian markets snapped a three-day losing streak. The benchmark S&P/ASX 200 rose 0.30 percent to 7,307 but recorded its third consecutive weekly loss. The broader All Ordinaries index ended 0.27 percent higher at 7,512.70.
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