Global shares edged up to within a fraction of a fresh record high and were set for a monthly gain, even as geopolitical tensions and persistent concerns about AI caused wild swings under the surface.

Wall Street futures were in the red after a relatively weak session for the major U.S. stock indexes on Thursday. S&P 500 futures were down 0.3 per cent and Nasdaq futures down 0.22 per cent as of 6:02 a.m. ET.

TSX futures fell 0.15 per cent as of 5:45 a.m. ET, after Canada’ main stock index rose to another record high on Thursday.

In Canada, investors are getting results from AtkinsRealis Group Inc., Boralex Inc., Endeavour Silver Corp., Laurentian Bank of Canada, and TransAlta Corp.

Manish Kabra, head of U.S. equity strategy at SocGen, said in the absence of any major news, the market is refocusing on fundamentals which he described as “rock solid.”

“This is on a global basis. When I say fundamental, this is the profit cycle, the growth cycle, the broadening of the growth,” said Kabra.

Overseas, the pan-European STOXX 600 was up 0.13 per cent in morning trading. Britain’s FTSE 100 added 0.39 per cent, Germany’s DAX rose 0.064 per cent and France’s CAC 40 lost 0.2 per cent.

In Asia, Japan’s Nikkei closed 0.16 per cent higher, while Hong Kong’s Hang Seng finished 0.95 per cent higher.

Oil prices rose by about US$1 as traders remained on alert for potential supply disruptions after the United States and Iran extended nuclear talks.

Brent crude futures advanced by US$1.13, or 1.6 per cent, to US$71.88 a barrel, while U.S. West Texas Intermediate crude was up US$1.10, or 1.7 per cent, at US$66.31.

“Uncertainty prevails, fear is pushing prices slightly higher today,” said Tamas Varga, an oil analyst at brokerage PVM. “It is completely driven by the outcome of the Iranian nuclear talks and possible military action the U.S. might take against Iran.”

In other commodities, spot gold edged down 0.1 per cent to US$5,181.18 per ounce. U.S. gold futures for April delivery were up 0.1 per cent at US$5,198.10.

The Canadian dollar strengthened against its U.S. counterpart.

The day range on the loonie was 73.05 US cents to 73.20 US cents in early trading. The Canadian dollar was down about 0.40 per cent against the greenback over the past month.

The U.S. dollar index, which weighs the greenback against a group of currencies, was down 0.01 per cent to 97.73.

The euro fell 0.04 per cent to US$1.1805. The British pound was down 0.06 per cent to US$1.3475.

In bonds, the yield on the U.S. 10-year note was last down at 3.990 per cent.

Japan’s retail sales, industrial production and Tokyo’s CPI

ECB’s three-year CPI expectations

Germany’s unemployment, CPI and retail sales

8:30 a.m. ET: Canada’s monthly Real GDP for December. The consensus is a month-over-month gain of 0.1 per cent. The Street is projecting a decline of 0.4 per cent on an annualized basis.

8:30 a.m. ET: U.S. PPI for January. The Street is expecting a rise of 0.3 per cent from December and up 2.9 per cent year-over-year.

10 a.m. ET: U.S. construction spending for December.

With Reuters and The Canadian Press