North America’s main stock markets are poised to open lower on Friday, as weaker commodities prices and grim expectations for earnings season weigh on the markets.

Overnight, uncertainty on company earnings and economic recovery prospects hobbled global markets. Jappan’s Nikkei index fell for an eighth straight session on Friday as it fell 5.4% for the week. The index dipped 3.78 points to 9,287.28, its lowest closing level since May 22.

Shares in Hong Kong and China also dropped on Friday. Hong Kong’s benchmark Hang Seng index was down 0.5%, or 82.17 points, at 17,708.42, its lowest closing level in more than two weeks. The China enterprises index, which represents top locally listed mainland Chinese stocks, dropped 0.6%, or 66.77 points, to 10,574.42.

European equities fell on Friday and headed for a fourth straight week of losses. By mid-day, Britain’s FTSE 100 was down 24 points, at 4,134.66, after it closed 18.43 points higher on Thursday at 4,158.66. The index is on track for its lowest close since late April, down 2.4% this week, set for its fourth consecutive week in negative territory.

Meanwhile, Statistics Canada reported on Friday that net job losses in June totalled 7,400 and the unemployment rate rose to 8.6% from 8.4% in May, the highest since February 1998.
Analysts had expected a net employment decline of 35,000 last month and a jobless rate of 8.7%.

On Thursday, Canada’s benchmark index rallied on promising economic data and a boost in energy and materials stocks following three days of steep losses as the S&P/TSX composite index gained 120.47 points, or 1.3%, to close at 9,773.92.

Junior stocks also rose on Thursday, sending the S&P/TSX Venture composite index up 8.8 points, or 0.9%, to end at 1,042.82.

U.S. stock markets finished with modest gains on Thursday, helped by strength in energy stocks.

The Dow Jones industrial average gained 4.76 points, or less than 0.1%, to close at 8,183.17.

The S&P 500 index added 3.12 points, or 0.4%, to finish at 882.68.

The Nasdaq composite index rose 5.38 points, or 0.3%, to end at 1,752.55.