North American stocks found firm footing Friday morning, rising after some upbeat quarterly earnings reports.
But European bourses looked to be in a holding pattern as investors await the results of a bank stress test for the euro region, due at the end of the day. One of the reasons the test is significant is it will indicate the level of recapitalization that may be necessary if Greece and perhaps other euro nations default on their debt.
In Toronto, the S&P/TSX was up 51.95 to 13,304.87, with advancing stocks outnumbering declining ones by a factor of three to one.
In New York, the Dow Jones Industrial Average edged up 57.18 to 12494.30 and the broader S&P 500 added 7.24 points to 1316.11.
Before the opening bell, Citigroup reported a 24 per cent rise in profit, beating expectations. The bank's shares rose 2 per cent in early trading. Late yesterday, Google results blew past analyst forecasts. The company's stock is up 12 per cent.
Gold is off $3 (U.S.) an ounce at $1586.30. The price for a barrel of WTI crude gained $1.20 to $96.89.
Among the fresh economic data investors will be watching today, the U.S. Labour Department is to release the consumer price index for June and the Fed will release industrial production and capacity utilization data for June.