Canadian shares are likely to open with a slightly negative bias on Friday, weighed down by weak commodity prices and U.S.-China tensions.
U.S. President Joe Biden's comments on China have stoked worries that relations between the two nations could sour further.
After a two-hour call with Chinese counterpart Xi Jinping on Wednesday, Biden warned lawmakers, "If we don't get moving, they are going to eat our lunch."
The two leaders discussed a range of issues, including human rights, trade and security, according to the White House. Both appeared at odds on most issues.
The market will also be reacting to data on data on Canadian producer prices for January, and wholesale sales for the month of December.
The Canadian market ended lower on Thursday, snapping an 8-session winning streak, as shares from healthcare and materials sections plunging on profit taking. The benchmark S&P/TSX Composite Index, which hit a fresh record high at 18,527.88 a day earlier, tumbled to 18,325.50 before settling at 18,392.99, posting a loss of 64.79 points or 0.35%.
Fortis Inc. (FTS.TO) reported fourth quarter net earnings of C$331 million, down from C$346 million in the prior-year quarter. On an adjusted basis, net earnings attributable to common equity shareholders were C$302 million or C$0.69 per share, compared to C$277 million or C$0.62 per share in the year-ago quarter.
Enbridge Inc. (ENB.TO) reported adjusted earnings of $4.9 billion or $2.42 per common share for full-year 2020, compared with $5.3 billion or $2.65 per common share in 2019.
Asian stocks ended lower in thin holiday trading on Friday as U.S. President Joe Biden's comments on China stoked worries that relations between the two nations could sour further.
European stocks are turning in a mixed performance in cautious trade as investors react to weak UK GDP data and Joe Biden's comments on China.
In commodities, West Texas Intermediate Crude oil futures are down $0.33 or 0.56% at $57.91 a barrel.
Gold futures are sliding $8.80 or 0.48% at $1,818.00 an ounce, while Silver futures are up $0.128 or 0.47% at $27.175 an ounce.
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