Bay Street Poised To Open Higher

(RTTNews) - Higher Canadian and U.S. index futures and firm precious metals prices point to a positive start on Bay Street Friday morning. U.S.-Iran tensions and U.S.-Canada trade deal uncertainty could weigh and limit market's upside.

A report from the Canadian Federation of Independent Business said Canada's CFIB Business Barometer long-term index, measuring 12-month business expectations, fell to 57.6 in August from 58.6 in June.

Retail Sales in Canada increased by 5.2% year-on-year in June 2026, data from Statistics Canada showed. According to preliminary estimates, retail sales decreased 0.8% in July over the previous month.

The Canadian market ended slightly weak on Thursday as investors anxiously awaited the finalization of a Canada-U.S. trade deal to avert 50% U.S. tariffs. Escalating U.S.-Iran tensions and data showing acceleration in producer prices weighed on sentiment.

The benchmark S&P/TSX Composite Index settled at 36,365.42, down by 36.37 points or 0.1%.

Asian stocks ended mixed on Friday as oil prices remained elevated and the U.S. Treasury Department's announcement to manage pressure in the bond market failed to quell lingering concerns about inflation and rising government debt.

European stocks are turning in a mixed performance in somewhat lackluster trade with investors digesting flash regional PMI data and continuing to assess the situation in the Middle East.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.15 or 0.17% at $86.98 a barrel.

Gold futures are up $65.10 or 1.43% at $4,636.50 a barrel, while Silver futures are up $1.300 or 1.91% at $69.405 an ounce.