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Futures Down Slightly
The S&P/TSX Composite Index held onto gains of 5.71 points to end Thursday at 21,937.89.
June futures ducked 0.1% Friday.
The Canadian dollar dipped 0.05 cents to 79.82 cents U.S.
CIBC cut the target price on Boyd Group Services to $180.00 from $230.00
Canada will continue to increase its defense spending, Prime Minister Justin Trudeau said on Thursday, as he announced new sanctions against Russia over its invasion of Ukraine.
Federal Energy Minister Jonathan Wilkinson says Canada has capacity to increase oil and gas exports by up to 300,000 barrels per day by the end of 2022 to help improve global energy security following Russia's invasion of Ukraine.
The TSX Venture Exchange added 7.5 points Thursday to 883.70.
U.S. stock futures rose Friday morning as the S&P 500 looked to close out its second consecutive positive week.
Futures for the Dow Jones Industrials recovered 97 points, or 0.3%, to 34,701.
Futures for the S&P 500 gained 16 points, or 0.4%, to 4,528.50.
Futures for the NASDAQ Composite Index jumped 61.5 points, or 0.4%, to 14,825.25.
For the week, the S&P 500 is ahead 1.3%, and the NASDAQ is up 2.1%. Both are on track for their second-straight winning week. The Dow is down marginally week to date.
The S&P 500 is now up more than 3% in March, more than erasing its losses since Russia invaded Ukraine late last month.
The rebound has come even as the war in Ukraine continues and the Federal Reserve is set to hike interest rates several more times this year.
Traders are keeping an eye on Europe as the Ukraine-Russia continues. The European Union on Friday struck a gas deal with the U.S. in an effort to reduce its dependency on Russian energy.
The news comes after President Joe Biden said Thursday at a NATO summit in Brussels that the U.S. would respond if Russia used chemical weapons in Ukraine.
In Asia, the Nikkei 225 in Japan inched up 0.1%, while in Hong Kong, the Hang Seng index withered 2.5%.
Oil prices declined $2.46 to $109.88 U.S. a barrel.
Gold prices dropped $9.10 to $1,953.10 U.S.