Early stock market signals were positive early Friday, with U.S. futures strong and crude oil prices declining as Wall Street awaited a scheduled update on the state of the U.S. current-account deficit.

European indexes rose in early action. Asian shares closed mostly higher, with investors snapping up blue chips in Southeast Asian markets, while on the Tokyo Stock Exchange, the Nikkei 225 index lost 28.1 points, or 0.22%, to 12,958.68 points in profit-taking, falling from a four-year high before a long weekend.

In Hong Kong, shares fell, with property companies leading the downward march, on concerns about interest rate hikes in the U.S.

The blue-chip Hang Seng Index fell 57.82 points, or 0.38%, to 14,983.2.

The Canadian dollar opened at 84.46 U.S. cents, up 0.06 of a cent. On Thursday, the loonie had dropped 0.29 of a U.S. cent after the U.S. dollar rose slightly against the euro.

Crude oil prices slipped Friday after OPEC lowered its demand forecast on signs that high prices were taking a toll on consumer demand. Yet South America’s biggest producer, Venezuela, warned that oil prices could reach US$100 a barrel because of the world’s limited reserves.

October crude on the New York Mercantile Exchange fell 65 cents to $64.10 a barrel in European electronic trading. On Thursday, light, sweet crude for October deivery closed down 34 U.S. cents to setle at US$64.75 a barrel on the New York Mercantile Exchange.

Purolator Courier Ltd. has ordered 115 new hybrid electric vehicles using powertrains developed by Azure Dynamics Corp. of Vancouver after extensive trials of prototypes of the innovative technology.

Fairmont Hotels & Resorts Inc. has announced the sale of a prime site in Vancouver to developer Westbank for $68 million. Westbank plans to build a 415-room luxury hotel and a 200-unit luxury condo project on the site, Fairmont said.

On Thursday, Canada’s benchmark stock index closed modestly higher after falling crude oil prices deflated Toronto’s energy sector.

On Wall Street, indexes ended mixed after the Philadelphia Federal Reserve reported across-the-board declines in regional manufacturing, overshadowing earlier data that showed U.S. core inflation remained in check despite higher energy costs.

That conflicting economic picture – along with a spike in weekly jobless claims resulting from hurricane Katrina – created uncertainty over whether the U.S. Federal Reserve would continue to raise its trend-setting interest rate next Tuesday.

Toronto stocks were up Thursday, buoyed by a rise in the materials sector and financials.

The S&P/TSX composite index finished up 33.91, or 0.31%, to 10,996.

Volume on the senior exchange was 297 million shares.

Eight of the 10 TSX main sub-groups were up on the day.

EnCana Corp. lost 42 cents, or 0.70%, to $59.80.

Ivanhoe Energy Inc. was up 4 cent, or 1.98%, to $2.06 after the company put the first well from a California gas field discovery onto production.

The materials sector rose 0.63%

Canico Resource Corp. shot up $5.10, or 34.81%, to $19.75 on news Brazil’s Companhia Vale do Rio Doce had offered $725 million for the Vancouver-based mining company.

Gold for December delivery rose US$5.60 to close at US$459.30 an ounce on the New York Mercantile Exchange.

Bema Gold Corp. lifted 12 cents, or 3.77%, to $3.30, while Kinross Gold was up 26 cents, or 2.95%, to $9.08.

The financials group was up 0.52%

Brascan Corp. announced its re-naming itself Brookfield Asset Management Inc. and will buy back US$500 million worth of shares. Its stock advanced 16 cents, or 0.33%, to $49.29.

The junior S&P/TSX venture exchange finished up 14.41, or 0.72%, to 2,025.19.

In New York, markets were essentially flat as investors stayed quiet ahead of next week’s U.S. Federal Reserve announcement on rates.

The Dow Jones industrial average rose 13.85, or 0.13%, to 10,558.75. The S&P500 index rose 0.57, or 0.05%, to 1,227.73, and the Nasdaq composite index fell 3.18, or 0.15% to 2,146.15.

In economic news, U.S. consumer inflation was up 0.5% in August, largely due to rising energy prices.

The U.S. Labor Department reported that 68,000 people lost their jobs due to hurricane Katrina and filed for unemployment benefits last week.