Bay Street Likely To Open Mixed

(RTTNews) - Canadian stocks are likely to open on a mixed note on Friday, reacting to the nation's jobs data, and the trend in the commodities market amid persisting concerns about Middle East tensions.

Data from Statistics Canada showed Canadian employment rose by 18,000 jobs in June, and the unemployment rate dropped down a bit to 6.5% from 6.6% in May.

Employment was expected to increase by 10,000 jobs in June, following an increase of 88,000 in May.

A separate data from Statistics Canada showed building permits in Canada slumped 1.7% in May

Canadian stocks surged on Thursday, partially reversing the losses from yesterday's session, amid gains in the gold-linked materials sector while investors focused on how the latest U.S.-Iran crisis pans out following U.S. President Donald Trump's mixed remarks.

After opening a little higher than yesterday's close, today the benchmark S&P/TSX Composite Index traded positive throughout the session before settling at 35,200.45, up by 264.65 points (or 0.76%).

Asian stocks rallied on Friday, with chip and AI firms leading the surge on the eve of SK Hynix's U.S. market debut. Despite the U.S. and Iran exchanging fire, investors pinned hopes that the escalation of hostilities in the Middle East will be limited.

The major European markets are quite subdued in cautious trade today with investors following news from the geopolitical front and looking for fresh directional clues.

In commodities, West Texas Intermediate Crude oil futures are up $0.13 or 0.18% at $72.21 a barrel.

Gold futures are down $29.60 points or 0.71% at $4,111.20 an ounce, while Silver futures are down $0.748 or 1.22% at $60.000 an ounce.