North American markets are likely open mixed Friday as investors gauge a rise in oil prices and a raft of economic data and earnings reports.

In early morning trading, the front-month crude-oil contract rose 66¢ to US$58.46 a barrel.

In U.S. economic news, , U.S. producer prices were unchanged in June as a big rise in energy costs was offset by a steep drop in food prices. Economists had expected a 0.4% increase. Prices excluding energy and food fell 0.1%.

Separate reports showed business inventories climbed 0.1% in May, while manufacturing activity in the New York region rose sharply in July.

Due out later in the morning are reports on industrial production and the University of Michigan’s consumer-sentiment survey.

Here at home, Statistics Canada said new motor vehicle sales continued to seesaw, with the number of units sold in May falling 6.9% after rising 2.3% in April.

In today’s earnings news, General Electric said that its net income jumped 24%, boosted by higher orders of industrial equipment and a 13% increase in overall revenue. The conglomerate narrowed it full-year earnings outlook to the high end of its original forecast.

McDonald’s Corp. said its second-quarter earnings should exceed Wall Street’s target.

In other business, Citigroup’s president and COO, Robert Willumstad, announced late Thursday his decision to resign from those posts to seek the top job at another public company.

As well, U.S. investment bank Morgan Stanley said the head of its retail brokerage, John Schaefer, is retiring.

In overseas trading, shares in fund-manager operator Amvescap traded off 0.6% lately, after declining nearly 4%, as it named Martin Flanagan, co-CEO of rival mutual-fund giant Franklin Resources Inc., as its new president and chief executive.

Amvescap shares have risen 37% over the last 60 days on speculation that Amvescap will be bought by CI Financial.

The Canadian dollar opened at US82.35¢, down 0.14 of a cent. On Thursday, the loonie fell 0.33 of a cent at US82.49¢ even as the Bank of Canada reiterated that interest rates will rise soon.

In its July Monetary Policy Report Update, the Bank of Canada continued to signal that rate increases were likely in the short term and said it expected the economy to grow by about 2.7% in 2005 and 3.3% in 2006.

On Thursday, Toronto stocks dropped Thursday, while New York markets rallied, as oil prices declined and U.S. investors welcomed positive economic and business news.

The S&P/TSX composite index fell 78.69, or 0.77%, to end 10,124.89.

The junior S&P/TSX Venture composite index fell 5.34, or 0.31%, to 1,710.97.

On Wall Street, investors cheered good June retail sales numbers and a smaller-than- expected rise in inflation for the month.

The blue chip Dow Jones industrial average gained 71.50, or 0.68%, to 10,628.89.

The tech heavy Nasdaq advanced 8.71, or 0.41%, to 2,152.82, its highest close of the year.

The broad based S&P 500 index lifted 3.21, or 0.26%, to 1,226.50, its highest close in four years.