(fxcue news) - The Canadian market may open higher on Friday, with materials shares finding some support on firm metal prices. Investors will also be reacting to Canadian retails sales data and U.S. producer prices report. Data on Canadian retail sales for the month of September is due at 8:30 AM ET. Retail sales in Canada are projected to have increased by 0.4% in September, according to flash estimate. In August, retail sales saw a revised 0.4% increase. A report on new housing prices in Canada in the month of October is also due at 8:30 AM ET. New home prices in Canada came in unchanged for the second consecutive month in September. The Canadian market climbed to new record intraday and closing highs on Thursday, thanks to investors indulging in some hectic buying across the board, after the government unveiled a mini stimulus package to help cash-strapped households struggling under higher debt payments. The measures announced by the government will cost the Canadian treasury an estimated 6.3 billion Canadian dollars, and include a temporary, two-month sales-tax exemption on certain goods and services. Furthermore, the Liberal government will issue an one time tax-free cash transfer of C$250 to individuals who earn less than C$150,000 Canadian dollars a year. The benchmark S&P/TSX Composite Index, which climbed to a new record high of 25,402.06, ended the session with a gain of 354.22 points or 1.41% at 25,390.68. Asian markets closed broadly higher and remained insulated from the turbulence in China's stock markets. Market sentiment in Japan improved considerably after headline inflation rate slowed to a nine-month low. Weak corporate earnings, worries about economic growth as well as concerns about the efficacy and sufficiency of stimulus measures contributed to the sell-off in China and Hong Kong. The major European markets are turning in a mixed performance with investors reacting to regional economic data. Weak PMI data weigh on Germany and France markets, while the U.K. market is up, presumably on data showing an improvement in consumer sentiment. In commodities, West Texas Intermediate Crude oil futures are down $0.42 or 0.62% at $69.68 a barrel. Gold futures are gaining $30.20 or 1.13% at $2,705.10 an ounce, while Silver futures are up $0.472 or 1.53% at $31.415 an ounce.