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Bay Street Seen Opening With Positive Bias

Canadian shares are likely to open with a positive bias Friday morning amid easing worries about U.S.-Iran tensions and on optimism about the U.S. and China signing a phase one trade deal next week.

In a significant development, the House of Representatives on Thursday approved a resolution that would force President Donald Trump to seek consent from Congress before taking new military action against Iran.

Investors will be reacting to the jobs data for the month of December from Canada and the U.S. The reports are due at 8:30 AM ET.

On Thursday, the benchmark S&P/TSX Composite Index ended up 67.75 points, or 0.39%, at 17,235.57, after hitting a record high at 17,255.51.

In company news, Corus Entertainment Inc. (CJR.B.TO) reported a net income of $78.1 million ($0.37 per share basic) for the quarter ended November 30, 2019 as compared to $60.4 million ($0.28 per share basic) in the corresponding quarter last year.

The Second Cup Ltd. (SCU.TO) today announced that it has completed its previously-announced acquisition of Ottawa-based Bridgehead Coffee. This marks the Company's first acquisition since it announced its new operating structure and strategy in November 2019. Aegis Brands also owns Canadian specialty coffee retailer Second Cup Coffee Co.

Cott Corporation (BCB.TO) today announced that Cott and Eden Springs, a wholly-owned subsidiary of Cott, have acquired 100% of the shares of Hungarian company, Clearwater, a market leader in providing water across Hungary.

Asian markets ended mostly higher on Friday amid easing U.S.-Iran tensions and ahead of release of the U.S. Labor Department's jobs report for December later in the day.

Europea shares are turning in a mixed performance with investors looking ahead to the crucial monthly jobs data from the U.S. Labor Department.

In commodities, West Texas Intermediate Crude oil futures for February are gaining $0.20, or 0.32%, at $59.76 a barrel.

Gold futures for February are declining $4.40, or 0.28%, at $1,549.90 an ounce.

Silver futures for March are down $0.011, or 0.06%, at $17.925 an ounce, while Copper futures for March are gaining $0.0030, or 0.11%, at $2.8050 per pound.

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