Before the Bell: Focus shifts to earnings as U.S. banks report

Wall Street futures were narrowly mixed early Friday as traders turn their attention to earnings from some of the biggest U.S. banks. Major European markets were lower.Dow, S&P and Nasdaq futures were choppy in the early premarket period. All three saw losses on Thursday but are up for the week to this point with the Nasdaq advancing about 1 per cent. Canada’slost 0.83 per cent yesterday but is up more than 1 per cent for the week so far.

In Canada, investors will get a reading on the country’s real estate market this morning, with the release of existing home sales figures from the Canadian Real Estate Association. Canadian existing home sales are expected to rise 5 per cent in September from a year earlier, while average prices are seen climbing 2 per cent over that period.

Crude prices spiked on supply concerns after the United States tightened its sanction program against Russian crude exports. “The oil market is going to remain tight going forward and should see the mid-$80s provide major support,” OANDA senior analyst Ed Moya said. “Gold’s short-term outlook still remains bullish given the U.S. is quickly cooling and over all the uncertainty with all the geopolitical risks,” Mr. Moya said.The Canadian dollar firmed slightly while its U.S. counterpart pulled back against a group of currencies after seeing its biggest daily increase since March during the previous session.

Source: News Formal (newsformal.com)

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