Bay Street Seen Opening Higher

(RTTNews) - Higher U.S. and Canadian futures and rising metal and oil prices indicate a positive start for stocks on Bay Street on Friday.

The jobs data from Canada and the U.S., due out at 8:30 AM ET, may significantly impact investor sentiment, as the reports will provide additional clues on the economic outlook and the path for interest rates in the two nations.

Aritzia Inc. will be in focus after the company raised its fiscal year guidance following a rise in sales in the latest quarter. The retailer forecasts sales of 3.62 billion Canadian dollars ($2.61 billion) to C$3.64 billion for the fiscal year, up from a prior projection of C$3.3 billion to C$3.35 billion. Analysts expect C$3.41 billion.

The Canadian market closed on a firm note on Thursday, supported by gains in energy stocks thanks to a jump in crude oil prices.

The benchmark S&P/TSX Composite Index settled at 32,378.64, up by 243.15 points or 0.76%.

Asian stocks closed broadly higher on Friday, even as the upside remained limited as investors eyed U.S. jobs data and a U.S. Supreme Court ruling on the legality of President Donald Trump's sweeping tariffs.

The major European markets are up firmly in positive territory today, with investors reacting to some corporate news, and looking ahead to the crucial U.S. non-farm payroll data for clues about the Federal Reserve's interest rate path.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.52 or 0.9% at $58.28 a barrel.

Gold futures are gaining $21.70 or 0.48% at $4,482.40 an ounce, while Silver futures are up $2.606 or 3.47% at $77.750 an ounce.