North American markets may open flat Friday as investors consider mixed earnings news from Microsoft and oil prices creep higher.

After markets closed Thursday, Microsoft said its first profit rose 11% on sales of PC and server software, but a measure of demand for new multiyear contracts was weak.

Crude-oil prices continued to climb Friday morning, rising 25¢ to US$54.72 in early trading.

The Canadian dollar was also on the rise, opening at US80.58¢, 0.12 of a cent higher that its close on Thursday,

Investors will be paying close attention to earnings reports as there are no major economic reports scheduled for release today in either Canada or the United States.

Toronto stocks closed higher Thursday as investors applauded a series of positive earnings announcements. The S&P/TSX composite index climbed 58.54 points or 0.67% to 8,846.56 on volume of 257 million shares.

The junior S&P/TSX Venture composite index fell 5.72 points or 0.34% to 1,657.45.

In New York, stocks closed mixed after a volatile session Thursday, with blue chips weighed down by uncertainty over oil prices and a new investigation of the insurance industry.

The Dow Jones industrial average fell 21.17 or 0.21% to 9,865.76. The Dow was pressured by American International Group Inc., which missed estimates on its latest earnings and announced that it was the subject of a grand jury probe.

Broader stock indicators were substantially higher. The S&P 500 index was up 2.83 or 0.26% at 1,106.49, and the tech-focused Nasdaq composite index gained 20.65 or 1.07% to 1,953.62.