Bay Street Seen Opening On Mixed Note

(RTTNews) - Canadian shares are likely to open on a mixed note Friday morning with investors reacting to the latest batch of Canadian economic data, and tracking commodity prices.

Data on Canadian producer and raw materials prices for the month of August is due at 8:30 AM ET.

A report on new housing prices for the month of August, and retail sales in the month of July, are also due at 8:30 AM ET.

The Canadian market rose to a new record high on Thursday as investors cheered the Federal Reserve's decision to cut interest rates by 50 basis points. Higher crude oil and gold prices triggered strong buying in energy and materials stocks, contributing to market's upmove. Technology stocks turned in a fine performance.

The benchmark S&P/TSX Composite Index hit a new record high of 23,909.53, and ended with a gain of 273.67 points or 1.16% at 23,866.27, a fresh record closing high.

Asian stocks closed broadly higher on Friday, although most of the markets in the region turned a bit subdued and pared early gains as the day progressed. The undertone remained positive, with investors continuing to cheer the Federal Reserve's decision to cut interest rates by 50 basis points.

The major European markets are down in negative territory on Friday with investors assessing the likely impact of the monetary policy and interest-rate moves of major central banks on the economy.

Automobile stocks are among the notable losers. Shares from the luxury and consumer durable sectors are also finding the going a bit tough so far.

In commodities, West Texas Intermediate Crude oil futures are down $0.21 or 0.29% at $71.74 a barrel.

Gold futures are gaining $27.00 or 1.04% at $2,641.70 an ounce, while Silver futures are up $0.237 or 0.75% at $31.660 an ounce.