Futures Nick Higher

Futures for Canada's main stock index edged higher on Friday, as recent de-escalation of the global trade war and softer U.S. inflation data supported risk appetite.

The TSX Composite Index soared 205.03 points to close Thursday at 25,897.48

June futures advanced 0.2% Friday.

The Canadian dollar dipped 0.04 cents to 71.62 cents U.S.

Investors cheered the 90-day pause in the U.S.-China tariff dispute, which reduces the global recession risks, and the bilateral trade agreement between the U.S. and the U.K. a week ago, igniting hopes for potential trade deals with the U.S.

In corporate news, oil and gas producer Strathcona said late Thursday it plans to launch a $5.93-billion takeover bid for peer MEG Energy.

Markets in Canada will be closed Monday for Victoria Day.

On the economic slate, Statistics Canada reported Friday that Canadian investors acquired $15.6 billion of foreign securities in March, mainly in U.S. bonds.

Meanwhile, foreign investors reduced their exposure to Canadian securities by $4.2 billion, marking a second consecutive monthly divestment.

ON BAYSTREET

The TSX Venture Exchange galloped 8.8 points, or 1.3%, Thursday to 667.45.

ON WALLSTREET

Stock futures rose Friday after the S&P 500 posted a four-day rally on the back of U.S. and China’s temporary tariff cuts and encouraging inflation reports.

Futures for the Dow Jones Industrials index recovered 150 points, or 0.4% to 42,535

Futures for the S&P 500 index regained 18.75 points, or 0.3%, to 5,952

Futures for the NASDAQ reclaimed 66.75 points, or 0.3%, to 21,467.

Stocks have made a strong comeback since U.S. and Chinese officials earlier this week agreed on a 90-day truce in their tariff measures, which eased investors’ fears of escalating global trade tensions and rising risk to the economy.

Week to date, the S&P 500 is up 4.5%, and the Dow has gained 2.6%. The NASDAQ Composite has jumped more than 6% this week. Both the S&P 500 and Dow closed higher on Thursday, while the NASDAQ fell slightly.

On the economic front, traders will keep an eye out Friday for housing starts data and the University of Michigan’s consumer sentiment survey.

In Japan, the Nikkei 225 index lost two points Friday, while in Hong Kong, the Hang Seng slid 0.5%.

Oil prices picked up 24 cents to $61.86 U.S. a barrel.

Gold prices dulled $48.20 to $3,178.40 U.S. an ounce.