Bay Street Headed For Positive Start

(RTTNews) - Canadian stocks look headed for a positive start on Friday with concerns about inflation and interest rates easing a bit following a sharp drop in oil prices. Bond yields have dropped as well.

U.S. non-farm payroll data for the month of September is likely to make an impact on investor sentiment.

Data from the Labor Department showed U.S. non-farm payroll employment rose by 29,000 jobs in September. The unemployment rate ticked up to 4.2% in the month.

West Texas Intermediate crude oil futures are down $3.27 or 3.52% at $89.60 a barrel.

Gold futures are up $8.70 or 0.2% at $4,211.00 an ounce, while Silver futures are up $0.155 or 0.25% at $61.330 an ounce.

Oil prices fell, reacting to reports that European Union countries are discussing a French proposal to release fuel and crude stockpiles to ease acute market tightness and help avert a potential U.S. diesel export ban.

Additionally, gulf exports showed signs of stabilization after Saudi Arabia restarted operations on its key East-West Pipeline and resumed tanker loadings from the Red Sea port of Yanbu following an 11-day shutdown caused by a drone attack on September 11,2026.

The Bank of Nova Scotia has announced its decision to raise its normal course issuer bid to 40 million from 15 million after receiving approval from the Toronto Stock Exchange and the Office of the Superintendent of Financial Institutions. The amended amount represents approximately 3.25% of the approximately 1.23 billion common shares issued and outstanding as of March 24, 2026.

The Canadian market ended weak on Thursday despite recovering from the day's lows. The benchmark S&P/TSX Composite Index closed down 81.11 points or 0.2% at 35,154.76.

Asian stocks ended mixed on Friday as investors grappled with wild swings in bond and currency markets. U.S. bond yields eased back from multi-year highs and some Federal Reserve officials signaled that an October rate hike may not be urgent, helping limit regional losses to some extent.

European stocks are up in positive territory today, with a sharp drop in oil prices and lower bond yields aiding sentiment.