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Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Friday morning, reacting to higher commodity prices and the latest updates on Covid-19 cases and vaccine news.

The market is likely to be weighed down by the public spat between the U.S. Treasury and Federal Reserve over emergency lending facilities.

Data on Canadian retail sales for the month of September, and new housing prices in October, are due at 8:30 AM ET.

The market ended marginally up on Thursday despite a weak start and a long spell in negative territory. The benchmark S&P/TSX Composite Index ended with a gain of 19.99 points or 0.12% at 16,909.81, after scaling a low of 16,813.64 and a high of 16,922.63 intraday.

Asian stocks turned in a mixed performance on Friday as investors stayed a bit cautious after recent gains, and closely followed updates on surging coronavirus cases and fresh restrictions in the United States

European stocks are in positive territory amid rising hopes around vaccines. European Commission President Ursula von der Leyen stated that COVID-19 vaccines could be approved before the end of the year.

Data from the mid-stage trial of AstraZeneca PLC and Oxford University's coronavirus vaccine candidate produced a strong immune response in older adults.

In commodities, West Texas Intermediate crude oil futures are up $0.26 or 0.62% at $42.00 a barrel.

Gold futures are rising $5.10 or 0.28% at $1,866.50 an ounce, while Silver futures are up $0.202 or 0.84% at $24.250 an ounce.

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