Canadian Stocks Set For Weak Open -- Canadian Commentary

(RTTNews) - Early signs are pointing to a lower open for Canadian stocks Friday, as oil prices remained in free fall and enthusiasm for the Donald Trump regime faded.

Futures were also pointing to a weak open on Wall Street after two days of solid gains.

WTI light sweet crude oil was down 90 cents at $43.77 a barrel.

OPEC output increased by 240,000 barrels a day in October, the latest figures from the IEA showed yesterday.

Gold also moved lower. Canada's gold stocks plunged 7% in the previous session on expectations the U.S. Federal Reserve will raise interest rates.

Meanwhile, the loonie slipped to its lowest since February.

Brookfield Asset Management Inc. (BAM) revealed a profit for its third quarter that climbed 76% from last year.

Hudson's Bay cut its full-year forecast as third quarter revenues fell.

Onex said thurd quarter revenues increased 7% to $5.5 billion.