North American stocks appear poised to slip at the open Friday, after a rise in U.S. consumer prices suggested that inflation remains a risk for the economy.
U.S. consumer prices rose 0.4% last month amid higher food and energy costs, the U.S. Labor Department said today. Excluding those items, core CPI climbed 0.2%. Average weekly wages fell.
March consumer confidence, and capacity utilization and industrial production figures for February are due out later today.
Here at home, Statistics Canada reported that national net worth advanced 2.7% to $4.9 trillion by the end of the fourth quarter of 2006, or $150,500 per capita.
The Canadian dollar opened at US85.16¢, up 0.15 of a cent.
In business news, Nissan Motor announced a management shakeup in which CEO Carlos Ghosn will relinquish his post as head of American operations, and the car maker said it will trim domestic production amid sluggish sales.
In earnings news, Canadian Helicopters Income Fund said Thursday it increased its revenue by 9.8% in its first full year as an income trust, earning net income of $15.3 million on revenue of $135.7 million.
Crude-oil prices rose 20¢ to US$57.75 a barrel.
Overseas, the FTSE 100 lost 0.3% in London. Germany’s DAX index declined 0.5% and France’s CAC 40 fell 0.5%.
Japan’s Nikkei stock average closed down 0.7%, while Hong Kong’s Hang Seng index fell 0.1%.
Toronto stocks ended higher on Thursday, boosted by mining and financial issues, as fears over the U.S. subprime mortgage market continued to ease.
The S&P/TSX composite index closed up 65.59 points, or 0.5%, at 12,874.32.
All 10 of the TSX main groups were higher, with the materials group up 1.4% and financials up 0.5%.
The junior S&P/TSX Venture composite index climbed 44.07 points, or 1.46%, to finish at 3,053.54.
In New York, U.S. stocks rose on Thursday after M&A action eased concerns about the subprime mortgage market.
The Dow Jones industrial average rose 26.28 points, or 0.22%, to 12,159.68. The S&P 500 gained 5.11 points, or 0.37%, to at 1,392.28. The tech-heavy Nasdaq composite index advanced 6.96 points, or 0.29%, to 2,378.70.