North American markets may open flat Friday as traders take a breather following the previous session’s wild ride and digest earnings from tech bellwethers Microsoft and Google.

After the closing bell Thursday, Microsoft reported its net jumped 38% in the fiscal fourth quarter, aided by a tax benefit and strong sales of server software. Microsoft’s profit beat Wall Street forecasts, but revenue was slightly lower than expectations, and the software giant’s guidance for the September quarter was a bit lower than expected,.

Google said its earnings more than quadrupled,.but investors weren’t impressed, and shares fell 5.7% in after-hours trading.

In Europe, stocks were lower at Friday midday. London’s Financial Times Stock Exchange 100-share index slipped 0.2% as shares struggle to gain ground in the aftermath of Thursday’s bombings on the mass-transit system, and the shooting Friday morning of a suspected bomber.

There are no major U.S. economic indicators scheduled today, and the earnings calendar is light after a whirlwind week.

Here at home, Statistics Canada said the12-month Consumer Price Index increased by 1.7% in June. However, the 12-month change in the core index, which excludes energy and food prices, slowed down slightly from 1.6% in May to 1.5% in June.

Separately, the government agency said consumers reduced their spending in retail stores in May. That’s the first drop in five months.

Canadian retailers sold $30.4 billion worth of goods and services, down 1.3% from April, when sales rose 1.5%.

North American stocks fell Thursday, as markets reacted to a second round of explosions in London and the decision by China to unpeg its currency from the US dollar. The S&P/TSX composite index finished down 11.96, or 0.12%, to 10,317.68

The Chinese government said it would drop the link between the yuan and the greenback, allowing the exchange rate to be set by a basket of currencies, to be named later.

The value of one yuan rose by about 0.25 of a cent to US12.33¢.

The Canadian dollar finished gain of 0.24 cent at US82.11¢.

In the telecom sector, Telus Corp. fell 95¢, or 2.21%, to $041.95 as workers at Canada’s second-biggest phone company went on strike.

After the bell, Celestica said it reversed a year-earlier net loss due largely to a one-time gain, but the contract electronics manufacturer issued a weaker-than-expected third-quarter forecast.

Celestica said it earned US$12.6 million, or 6¢ a share, for the quarter ended June 30, versus a year-before loss of US$7.9 million, or 4¢ a share.

Before the announcement, Celestica shares closed down 43¢, or 2.4%, at $17.52.

The junior S&P/TSX Venture composite index finished up 10.11, or 0.58%, to 1,755.50.

In New York, the Dow Jones industrial average fell 61.38, or 0.57%, to 10,627.77. The tech-heavy Nasdaq composite idex dropped 9.97, or 0.46%, to 2,178.60, and the S&P 500 lost 8.16, or 0.66%, to 1,227.04.

Earnings reports from major corporations were mostly positive. The technology sector got a boost as eBay Inc., the online auctioneer, posted a 53% increase in second-quarter earnings. EBay shares soared 20%, or $7.23, to US$42.10.

Coca-Cola Co. rose 62¢ to US$43.95 after it saw a 9% in quarterly profits.

Fellow Dow component McDonald’s Corp. had solid, if somewhat lackluster, earnings that came in above Wall Street’s expectations. McDonald’s fell 12¢ to US$30.78.