The Canadian Press

U.S. futures were also in positive territory with the Dow Jones industrial futures ahead 10 points, the Nasdaq futures gained 3.8 points to 1,766.2 while the S&P futures rose 1.6 points to 1,092.4.

The Canadian dollar was down 0.38 cent to US95.06¢, a day after Bank of Canada governor Mark Carney said the sharply higher currency is putting a brake on the country’s economy recovery.

And he made it clear that “intervention is always an option: to control the rise of the loonie, which came within about 2.5¢ of regaining parity with the U.S. dollar a week ago.

The December crude contract on the New York Mercantile Exchange was up 8¢ to US$81.27 a barrel. Crude prices are up more than 3% this week to a one-year high on optimism an economic recovery is taking root.

Other commodity prices climbed with the December copper contract in New York up 4¢ to US$3.04 a pound while December bullion gained US$2.90 to US$1,061.50 an ounce.

Investors ploughed through another slew of earnings reports, including an advance warning from fertilizer company Agrium Inc. (TSX:AGU), which said it expects third-quarter earnings will be 90% to 95% below what they were a year ago when the full report is issued on Nov. 4.

Agrium attributes the decline to lower prices and margins for all three categories of fertilizer that it produces. Its retail sales have also been hit by a 40% decline in fungicide sales and applications this summer.

In the U.S., Honeywell International Inc. said its third-quarter profit fell 15% from a year ago to US$608 million. Sales dropped in all its divisions as key markets in aviation and industrial products continue to struggle.

Whirlpool Corp, the world’s biggest home appliance maker, said its quarterly profit fell 47% to US$87 million as shoppers hold off on big-ticket purchases during the recession.

However, cost savings did lead Whirlpool to raise its full-year earnings guidance even though it still sees economic uncertainty ahead.

And energy services company Schlumberger said Friday the worst effects of the economic slump may be over, even though the company’s third-quarter profits dropped 48% from a year earlier to US$787 million.

The Houston-based oil company, which helps drillers pull oil and gas from the ground, was hit hard this year as crude prices sagged and drilling companies idled half of their rigs in the U.S.

Microsoft Corp. reports its latest earnings before the market open.

In overseas trading, Japan’s Nikkei 225 stock average gained 0.2%, and Hong Kong’s Hang Seng jumped 1.7% while China’s Shanghai index climbed 1.9%.

London’s FTSE 100 index gained 1.49%, Frankfurt’s DAX was ahead 1.05% and the Paris CAC 40 advanced 1.13%.