Early indicators were for a flat to positive opening for North American stock markets Friday as crude oil prices receded. But the sliding crude prices and falling gold prices may take their toll on Canadian markets.

On Thursday, falling oil prices sent energy stocks and the Toronto stock market lower. New York indexes closed higher, thanks to the energy-cost relief and Alcoa’s positive start to the U.S. first-quarter reporting season.

The Toronto S&P/TSX composite index lost 47.66 points to 9625.35 as the exchange was also pressured by falling financial stocks. The TSX Venture Exchange was off 9.82 at 1846.25.

On Wall Street, the Dow industrial average moved ahead 60.3 points to 10546.32. The Nasdaq added 19.65 to 2,018.79 while the Standard & Poor’s 500 index gained 7.07 to 1,191.14.

The Canadian dollar opened at US81.8¢, up 0.03 of a cent. On Thursday, the loonie had dipped 0.14 of a cent.

Crude futures fell for the fifth consecutive day Friday, dragged down by a drop in gasoline prices. Light sweet crude for May delivery fell 54¢ to US$53.57 a barrel in electronic trading on the New York Mercantile Exchange by midmorning in Europe. Heating oil prices dropped a cent to US$1.5184 a gallon.

Gold prices were also down, as much as US$3.20 in some markets.

In economic news, Statistics Canada reported that a drop in the number of people looking for work in March pushed the jobless rate down to 6.9%, from 7% the month before.

Also, Canadian housing starts rose a less- than-expected 0.3 percent in March, restrained by a drop in construction of single-family homes, the federal government’s housing agency said. Work began on 218,500 housing units at an annual rate last month, up from February’s 217,800, Canada Mortgage & Housing Corp. said today in Ottawa. The number was lower than the median forecast of 220,000 in a Bloomberg News survey of 20 economists.

On Wall Street, futures were mixed, but European indexes rose in early action. Most markets closed higher across Asia, with Tokyo stocks rising amid gains on Wall Street and optimism about Japan’s economy.

The Nikkei Stock Average of 225 selected issues rose 63.76 points, or 0.54 per cent, to 11,874.75 points.

Hong Kong’s stock market closed slightly higher on bargain hunting in recent laggards, as cautious investors took heart from Wall Street’s gains and easing oil prices. The blue-chip Hang Seng Index rose 64.37 points, or 0.47 per cent, to 13,666.72.