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Bay Street May Open Higher

Canadian shares look headed for a positive start on Friday amid fresh optimism about U.S.-China trade deal after White House economic adviser Larry Kudlow said the two countries are in touch to work out an agreement.

Kudlow said the two countries are communicating "every single day" and the 'phase one' trade deal was close though "not done yet."

Activity is likely to be stock specific with quarterly earnings reports providing direction.

On Thursday, the benchmark S&P/TSX Composite Index ended up 14.19 points, or 0.08%, at 16,972.18, a new closing high.

In company news, Crescent Point Energy Corp (CPG.TO) announced it is selling Saskatchewan midstream assets for $500 million as part of a divestiture strategy adopted following a management shakeup last year.

The Green Organic Dutchman Holdings Ltd. (TGOD.TO) reported a net loss of $20.1 million for the third quarter of 2019. Out of this, $4.3 million was related to non-cash stock-based compensation, depreciation and amortization, the company said.

Aurora Cannabis Inc. (ACB.TO) reported net cannabis revenue of $70.8 million for the first quarter of fiscal 2020, compared to $94.6 million in the fourth quarter of fiscal 2019.

Wheaton Precious Metals Corp (WPM.TO) reported adjusted net earnings of $72,692, or $0.16 per share, for the third quarter ended September 2019, compared with adjusted net earnings of $35,132, or $0.08 per share in the year-ago quarter.

Asian markets ended broadly higher on Friday on positive comments about a trade deal between the U.S. and China by Larry Kudlow.

Investors also reacted positively to a goodwill gesture by China lifting a nearly 5-year ban on imports of U.S. poultry meat.

European stocks rose, buoyed by positive comments on trade by White House economic adviser Larry Kudlow about U.S.-China trade deal.

In commodities, crude oil futures for December are down $0.16, or about 0.25%, at $56.61 a barrel.

Gold futures for December are declining $7.00, or 0.47%, at $1,466.40 an ounce.

Silver futures for December are down $0.170, or 1%, at $16.858 an ounce, while Copper futures for December are gaining $0.0160, or 0.61%, at $2.6375 per pound.

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