(MENAFN- Baystreet.ca) Stock futures pointed to a lower opening for Canada's main stock index on Friday, as oil prices fell after China reported slower economic growth, pointing to lower fuel demand in the world's biggest oil importer.
The S&P/TSX Composite Index lost 32.71 points Thursday to 14,750.35
The Canadian dollar sifted off 0.18 cents at 74.72 U.S. early Friday
December futures trundled lower 0.6% Thursday.
Canaccord Genuity cuts the rating on Detour Gold to hold from buy
RBC raised price target on Empire Company to $30.00 from $29.00
ON BAYSTREET
The TSX Venture Exchange sank 5.28 points Thursday to 556.96.
ON WALLSTREET
Stock futures on U.S. markets were sharply lower Friday morning, after weaker-than-expected data in China and Europe exacerbated concerns of a global economic slowdown.
Futures for the Dow Jones Industrial Average docked 192 points, or 0.8%, to 24,396
Futures for the S&P 500 fell 21.75 points, or 0.8%, to 2,628,
NASDAQ futures skidded 69.25 points, or 1%, to 6,708.25.
China reported industrial output and retail sales growth numbers for November that missed expectations. This is the latest sign shown by China that its economy may be slowing down. The data also underscored the rising risks to China's economy as Beijing works to resolve an ongoing trade war with the U.S.
Investors have been on edge recently amid the lingering trade concerns and fears of slowing economic growth. Data from research service Lipper found that more than $46 billion were pulled out in a week from U.S. stock mutual funds and ETFs, the most ever.
Overseas, in Japan, the Nikkei 225 sank 2% Friday, while in Hong Kong, the Hang Seng index dipped 1.6%
Oil prices faded seven cents to $52.51 U.S. a barrel.
Gold prices dropped $5.70 to $1,241.70 U.S. an ounce.
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