A look at Friday morning’s market action
Wall Street futures saw tentative early gains Friday as key indexes head for a weekly advance. Major European markets were positive.In the early premarket period, futures linked to the Dow, S&P and Nasdaq shook off early weakness to turn positive. All three saw gains of more than 1 per cent on Thursday and are up for the week, with the Nasdaq roughly 4-per-cent higher heading into the final trading session. The S&P 500 was up about 3 per cent on the week.
“The increase reflects higher sales in the petroleum, petroleum products, and other hydrocarbons subsector.”is asking Canada’s telecommunications regulator to intervene Overseas, the pan-European STOXX 600 was up 0.58 per cent in morning trading. Britain’s FTSE 100 gained 0.74 per cent. Germany’s DAX and France’s CAC 40 added 0.39 per cent and 0.76 per cent, respectively.CommoditiesThe day range on Brent was US$75.35 to US$75.95 in the early premarket period. The range on West Texas Intermediate was US$70.28 to US$70.84. Both benchmarks added about 3 per cent Thursday and are on track for the first weekly gain in three.
Crude prices have drawn some support recently from a weaker U.S. dollar as well as expectations that OPEC+’s planned output cuts along with additional reductions by Saudi Arabia will shore up markets. The day range on the loonie was 75.52 US cents to 75.76 US cents in the predawn period. The Canadian dollar is up 0.90 per cent against the greenback over the last five days and up more than 2 per cent for the year to date.
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