Bay Street Likely To Open On Positive Note

(RTTNews) - Positive global cues and firm metal prices indicate a higher opening for the Canadian stock market on Friday, the first trading session of Year 2026. Trading volumes may remain somewhat this once again.

Bitfarms will be in focus after the company agreed to sell its 70-megawatt site in Paraguay to Sympatheia Power Fund for up to $30 million as part of its strategy to focus on North American power assets.

Uranium company Denison Mines announced today that it is ready to begin constructing its uranium mine in Saskatchewan as soon as it receives final government approvals.

Data on Canadian manufacturing activity for the month of December is due at 9:30 AM ET.

The S&P Global Canada Manufacturing PMI fell to 48.4 in November from October's 49.6, signalling a modest deterioration and extending the sector's contraction for a tenth straight month.

U.S. economic data due next week, including the U.S. payrolls report and jobless data may provide additional clues on whether the next Federal Reserve chief would opt for deeper interest-rate cuts.

Canadian stocks moved lower on Wednesday, as gold and silver prices fell due to profit-booking by traders from the recent record high prices.

The benchmark S&P/TSX Composite Index shed early gains and settled at 31,712.76, down by 153.50 points or 0.48%. The index gained nearly 29% in 2025.

Asian stocks moved higher on Friday after ending 2025 on a subdued note. Regional trading volumes remained thin due to holidays in Japan, China and New Zealand.

The major European markets are up in positive territory, supported by gains in defense, mining and energy stocks.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.32 or 0.52% at $57.10 a barrel.

Gold futures are gaining $66.50 or 1.5% at $4,406.60 an ounce, while Silver futures are up $3.172 or 4.5% at $73.775 an ounce. Copper futures are up $0.0315 or 0.55% at 5.7135 per pound.