Canadian Stocks May Trim Weekly Losses -- Canadian Commentary

(RTTNews) - Canadian stocks may end a rough week on an upbeat note Friday, after strong US GDP data and clarity on interest rates from Fed Chair Janet Yellen.

Markets took in stride remarks indicting that the Fed plans to raise interest rates gradually starting this year.

The S&P/TSX composite index dropped 45.02 points Thursday to 13,338.67. The index is down about 300 points in the past few sessions.

In corporate news, smart phone maker BlackBerry Ltd. (BBRY, BB.TO) reported Friday adjusted loss per share came in wider than analysts' expectations, and quarterly revenues also missed their estimates.

The quarterly loss was $66 million, or 13 cents a share.

Silver Wheaton (SLW.TO) was told by Canada's tax authorities that the mining company owes $353 million in back taxes.

Updated government data showed that the U.S. Gross Domestic Product expanded at a revised rate of 3.9 percent in the second quarter.

This was revised up from the 3.7 percent growth that was reported last month.