Wall Street stock-index futures pointed to a flat-to-lower open Friday after the U.S. consumer price index remained flat in July/

The U.S. Labour Department said Friday that the CPI was unchanged on a monthly basis in July from June, though prices in annual terms fell at the fastest rate since 1950. On an annual basis, consumer prices dropped 2.1%.

Here at home, Statistics Canada said manufacturing sales increased 1.9% in June, largely as a result of robust sales in the aerospace and petroleum and coal products industries.

Separately, StatsCan said new motor vehicles sales edged down 0.6% to 119,961 units in June.

The Canadian dollar was up 0.18 to US92.01¢.

Also on today’s U.S. economic data calendar, July industrial production data is expected to show a 0.7% rise after a 0.4% fall in June, the survey found.

The Reuters/University of Michigan index of consumer sentiment for August will also be released later this morning.

Economists expect a preliminary reading on consumer sentiment of 68.5, higher than July’s final reading of 66.0.

In earnings news, U.S. deparment store retailer J.C. Penney reported its second-quarter earnings were better than expected and raised its forecast for the year.

In commodities news, oil futures were up 25¢ a barrel at US$70.77 in electronic trade on Nymex.

The December bullion contract was up US$4.10 to US$960.60 an ounce

In Asia, Japan’s Nikkei 225 stock average added 0.8%, to close at a 10-month high while Hong Kong’s Hang Seng recovered losses to close up 0.2%.

In Europe, the UK FTSE 100 index was up 0.33%, Frankfurt’s DAX was up 0.37% while the Paris CAC 40 gained 0.68%.

The benchmark Toronto stock index rose sharply on Thursday, its third-straight day of gains, boosted rising commodity prices.

The Toronto Stock Exchange’s S&P/TSX index climbed 165.69 points, or 1.55%, to end at 10,825.56.

The resource heavy materials sector rose by 2.84%.

The junior S&P/TSX Venture composite index rose 14.48 points, or 1.22%, to end at 1,200.50.

In New York, U.S. stocks rose on Thursday as better-than-expected earnings by Wal-Mart Stores Inc helped offset disappointing data on U.S. retail sales and jobs.

The Dow Jones industrial average added 36.58 points, or 0.39%, to 9,398.19. The S&P 500 climbed 6.92 points, or 0.69%, to 1,012.73. The tech-heavy Nasdaq composite index rose 10.63 points, or 0.53%, to 2,009.35.

IE