Canadian stocks are poised for a flat open Friday amid mixed commodities and varied cues from the global equity markets. Asian stocks ended mostly higher overnight despite concerns about the state of the U.S. economy and uncertainty over the prospects of the Fed winding down its bond-buying program. European stocks were reversing early losses, even as data from Eurostat showed euro zone construction output continued its decline for the fifth month in a row in March.
Meanwhile, Canada reported soft inflation data for the month of April, mainly due to a fall in gasoline prices.
U.S. stock futures were pointing to a higher open.
On Thursday, the S&P/TSX Composite Index moved up 33.95 points or 0.27 percent to 12,507.60.
The price of crude oil was ticking higher Friday morning, with the US dollar trading steady versus a basket of currencies. Crude for June added $0.47 to $95.63 a barrel.
The price of gold was extending losses for a seventh straight session Friday morning, with the US dollar trading firm versus a basket of currencies after San Francisco Federal Reserve President John Williams indicated that the Fed may slow the pace of its asset purchases as early as this summer if labor market indicators continue to improve. Gold for June lost $19.50 to $1,367.40 an ounce.
In corporate news from Canada, retailer Sears Canada Inc. (SCC.TO) said it launched its latest Hometown concept store in Orillia, with a new 25,000 square-foot location.
Oil and gas industry services provider Winalta Inc. (WTA.V) reported lower first quarter net earnings of $1.76 million compared to $3.32 million in the year ago quarter.
Technology company LX Ventures (LXV.V) announce that its subsidiary successfully closed the acquisition of Mobio Technologies Inc, in exchange of its 2,000,000 common shares.
In economic news, a report from the Statistics Canada revealed that the Consumer Price Index rose 0.4 percent year-on-year in April, following a 1.0 percent increase in March. Price decreases were largely due to a fall in gasoline prices and the purchase of passenger vehicles. Economists expected 0.6 percent growth in the CPI. On a seasonally adjusted monthly basis, the CPI decreased 0.4 percent in April, after posting no change in March. The decrease in April was the largest decline since October 2008. Meanwhile, the Bank of Canada's core index rose 1.1 percent in the 12 months to April, following a 1.4 percent increase in March.
Separately, the agency said wholesale sales advanced by 0.3 percent in March to $49.1 billion, falling short of a 0.4 percent growth expected by economists. The increase was mainly due to higher sales in the motor vehicle industry. Since May 2012, wholesale sales have been relatively flat. In volume terms, wholesale sales were up 0.1 percent in March.
Elsewhere, euro zone construction output continued its decline for the fifth month in a row in March, Eurostat reported. Production in construction fell at a faster pace of 1.7 percent, following a 0.3 percent drop in February. Building construction and civil engineering slid 1.4 percent and 2.4 percent, respectively. On a yearly basis, overall construction output plunged 7.9 percent, reversing last month's 1.7 percent increase.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.