Canadian Markets Might Aim Slightly Up

(RTTNews) - Reports of the U.S. military build up with a focus on Iran might influence market sentiments on Friday. The oil futures are sliding, while metal futures are positive. Despite volatile geopolitical trends, Canadian market might be slightly up at open.

On Thursday, the benchmark S&P/TSX Composite Index closed up 205.25 points or 0.6 percent at a new record closing high of 33,594.98.

Benchmark Brent crude futures slipped 0.2 percent to $71.53 a barrel. Crude oil futures were down 0.22 points or 0.33 percent at $66.21.

Gold futures is edging above $5,000 an ounce on Friday, up 42.80 points or 0.87 percent. Silver futures are up 2.746 points or 3.48 percent.

On the corporate sector, Onex Corp. (ONEX.TO) reported fourth quarter profit of $181 million, or $2.64 per share, compared to loss of $2 million, or $0.02 per share last year.

Asian shares finished mostly lower, while European shares are trading positive.

The U.S. major averages finished Thursday in negative territory. The Dow slid 267.50 points or 0.5 percent to 49,395.16, the Nasdaq fell 70.91 points or 0.3 percent to 22,682.73 and the S&P 500 dipped 19.42 points or 0.3 percent to 6,861.89.

On the U.S. Economic front, the Flash Composite Purchasing Managers' Index or PMI for February will be revealed at 9.45 am ET. The Manufacturing Index consensus is 51.9, while it was up 52.4 in the prior month.

The New Home Sales for November will be issued at 10.00 am ET. The consensus is 735K.

The Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America rig count was 773, while the U.S. rig count was 551.

Atlanta Fed President Raphael Bostic will participate in moderated conversation on the economic outlook before event hosted by the Birmingham Business Journal at 9.45 am ET.

St. Louis Fed President Alberto Musalem will appear on Fox Business at 3.30 pm ET.

Friday, Chinese markets remained shut for the Lunar New Year holidays. Hong Kong's Hang Seng fell 1.10 percent to 26,413.35.

Japanese markets lost ground. The Nikkei average fell 1.12 percent to 56,825.70 while the broader Topix index settled 1.13 percent lower at 3,808.48.

Australian markets finished marginally lower. Across the Tasman, New Zealand's benchmark S&P/NZX-50 index fell 1.01 percent to 13,308.52.