Bay Street Likely To Open On Mixed Note

(RTTNews) - Canadian shares may open on a mixed note Friday morning as investors are likely to take some profits after recent gains. Firm gold and oil prices may push up resources stocks.

The focus now is on interest rate decisions by the Bank of Canada and the Federal Reserve. The central banks, scheduled to announce their decisions next Wednesday, are widely expected to lower their interest rates.

In company news, Lundin Gold Inc. (LUG.TO) announced that Ron Hochstein will step down as President, Chief Executive officer, and Director of the Company after ten years of transformative leadership. Jamie Beck, former President, Chief Executive officer, and Director of Filo Corp., will be appointed President, CEO, and Director of Lundin Gold, effective November 7, 2025.

The Canadian market settled modestly higher on Thursday on hopes for a rate cut by the Federal Reserve after inflation numbers which matched expectations.

The benchmark S&P/TSX Composite Index, which stayed positive right through the day's trading session, hit a new record intraday high of 29,418.78, and finally settled at 29,407.89, up by 228.50 points or 0.78%.

Asian stocks closed higher, tracking cues from Wall Street where the major averages ended on a firm note as rising jobless claims coupled with largely in-line U.S. consumer price inflation data spurred expectations for more Federal Reserve rate cuts.

Falling bond yields, easing tariff concerns and extravagant expectations for AI-related earnings growth also helped underpin investor sentiment heading into the weekend.

European stocks are turning in a mixed performance today with investors largely making cautious moves, looking for directional clues.

In commodities trading, West Texas Intermediate Crude oil futures are up $1.10 or 1.76% at $63.47 a barrel.

Gold futures are gaining $9.10 or 0.25% at $3,682.70 an ounce, while Silver futures are up $0.591 or 1.4% at $42.740 an ounce.