The Toronto stock market appeared set for a gain, taking its cue from world markets, as investors parse domestic inflation numbers.
Canadian Pacific Railway Ltd. has beaten analyst expectations with a $142-million profit in the first quarter, or 82 cents per share.
Statistics Canada reported this morning that consumer prices rose 1.9% between March 2011 and March 2012, following a 2.6% increase in February. This 0.7-percentage-point difference was largely the result of slower year-over-year increases in prices for food and energy.
The S&P/TSX Composite Index closed Thursday up 24.80 points to 12,153.69
The TSX Venture Exchange slumped 15.05 points to 1,396.77, while the Nasdaq Canada index added 4.08 points to 415.44
The Canadian dollar was up 0.37 of a cent this morning to 100.82 cents U.S.
U.S. index futures were higher with about 30 minutes before markets open, suggesting that stocks will rise at the start of trading and snap a two-day losing streak. Futures for the Dow Jones industrial average were up 49 points, or 0.4%, to 12,951.
Futures for the broader S&P 500 were up 6.80 points, or 0.5%, to 1,379.30. Futures for the Nasdaq recaptured 12.50 points, or 0.5%, to 2,696.
On Thursday, all three indexes fell, weighed down by disappointing U.S. economic news, including falling existing home sales and high initial jobless claims.
In Europe, the U.K.'s FTSE 100 rose 0.4% and Germany's DAX index rose 1% in afternoon trading.
In Asia, Japan's Nikkei 225 fell 0.3% in overnight trading.
Meanwhile, commodities rose. Crude oil rose to $102.88 U.S. a barrel, up 0.6%. Gold rose to $1,645 U.S. an ounce, up 0.2%.