Canada's main stock index edged higher on Friday in light trading, as investors assessed better-than-expected GDP figures, putting the benchmark on track for its seventh consecutive month of gains.
The TSX popped 149 points at noon 31,345.71. On the week so far, the index has triumphed 1,185 points, or 3.9%.
The Canadian dollar gained 0.30 cents to 71.59 cents U.S.
In corporate news, CIBC upgraded Canadian National Railway's stock rating to "outperformer" from "neutral." CN shares began Friday jumped $2.15, or 1.6%, to $133.79.
On the economic scene, Statistics Canada reported that gross domestic product rose 0.2% in September, up for the second time in three months, more than offsetting August's decline.
Eight of the 12 TSX subgroups were in the green by noon Friday, with materials popping 2%, energy, up 1.2%, and gold, climbing 0.8%.
The four laggards weighed most by consumer staples, off 0.4%, while consumer discretionary stocks lost 02%, while information technology, off 0.1%.
ON BAYSTREET
The TSX Venture Exchanged vaulted 19.35 points, or 2.1%, to 941.43, for a gain on the week of 86 points, or 10.1%.
ON WALLSTREET
The NASDAQ rose on Friday, setting up the index for a fifth straight day of gains even as it looks to record a losing month.
The Dow Jones Industrials was ahead 300.68 points to 47,741.32.
The S&P 500 Index grabbed 30.03 points to 6,842.60.
The NASDAQ, for its part, vaulted 94.95 points to 23,309.64.
The disruption could cause even more volatility, as Wall Street comes back from the Thanksgiving holiday for a shortened trading session on Friday.
Trading volumes the day after Thanksgiving are historically well below average, meaning moves — to the upside and the downside — could be more extreme.
Friday also marks the last trading day of November. A pullback in tech stocks have weighed on the major averages this month, as doubt swirled around the future profitability of AI companies.
Yet some investors are hopeful that this month’s slide will mean a year-end rally is in store for the major averages, as they step into buy stocks that have been unduly punished at more attractive valuations.
The NASDAQ fell almost 2% on the month, on track to end a seven-month advance. The S&P 500 was marginally lower, pacing to snap six straight months of gains. The Dow, meanwhile, was slightly higher on the month.
That said, stocks are on pace to wrap up a winning week, following a turnaround in tech names. The Dow is up about 3% week to date, while the S&P 500 and NASDAQ are higher by more than 3% and more than 4%, respectively, in the weekly period.
Markets were closed Thursday, of course, for Thanksgiving. They will shut down again at 1 p.m. EST, while bond markets will stay open till 2 p.m.
Oil prices gained 89 cents to $59.54
Gold prices hiked $41.00 to $4,243.30.
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