It was a week of recovery for all major markets across North America, and indices in Toronto basked in the glory, too.
The S&P/TSX Composite Index remained higher 132.87 points to end the week at 14,966.56, for a gain on the week of 346 points, or 2.37%.
The Canadian dollar gained 0.19 cents to 71.80 cents U.S.
Consumer discretionary stocks led the parade Friday, with BRP Inc. cruising along $5.83, or 16.5%, to finish at $41.25, while Spin Master leaped $1.30, or 7.3%, to $19.05.
Energy stocks also shared in the fun, with Enerflex acquiring 60 cents, or 11.1%, to $5.99, while Canadian Natural Resources hiked $1.24, or 5.7%, to $22.84.
In real-estate, Brookfield Property Partners collected 56 cents, or 4.5%, to $13.05, while Summit Industrial Income REIT units climbing 37 cents, or 3.8%, to $10.05.
Gold went downward, however, with Eldorado Gold slipping 59 cents, or 4.4%, to $12.87, while Sandstorm Gold dropped 87 cents, or 7.3%, to $11.12.
Among health-care issues, Aphria sifted off 36 cents, or 7%, to $4.78, while Aurora Cannabis settled five cents, or 5.2%, to 91 cents.
In materials, First Majestic Silver lost 19 cents, or 1.6%, to $11.52, while Stella-Jones sank $1.37, or 4%, to $33.03.
On the economic slate, Statistics Canada said the economy lost two million jobs during April, bringing the total employment decline since the beginning of the COVID-19 economic shutdown to over three million, and the unemployment rate up 5.2 percentage points to 13%.
StatsCan also said the total value of building permits issued by Canadian municipalities decreased 13.1% to $7.4 billion in March, with declines reported in seven provinces and two territories. The $1.1-billion national decrease was the largest since August 2014.
Canada Mortgage and Housing Corporation reported housing starts were 199,589 units in April 2020, down from 204,899 units in March 2020. Excluding Québec, the trend was 155,995 units in April 2020, up from 153,463 units in March 2020.
ON BAYSTREET
The TSX Venture Exchange gained 3.87 points to 492.09, an improvement of 19 points, or 4%.
All but three of the 12 TSX subgroups were positive on the day, with consumer discretionary stocks jumping 2.8%, energy strengthening 2.5%, and real-estate 1.7% to the good.
The three laggards were gold, dulling in price 0.8%, while health-care and materials each surrendered 0.1%.
ON WALLSTREET
Stocks rose on Friday even after the ugliest monthly jobs report ever as investors bet the worst of the coronavirus and its impact on the economy has passed.
The Dow Jones Industrials powered 455.43 points, or 1.9%, to 24,331.32. The Dow jumped 2.5% for the week.
The S&P 500 advanced 48.61 points, or 1.7%, to 2,929.80. The S&P 500 vaulted 3.5% for the week.
The tech-heavy index NASDAQ traded higher 141.66, or 1.6%, to 9,121.32. the NASDAQ spiked 6%
The major averages all enjoyed for their first weekly gains in three.
Gains from Facebook, Amazon, Alphabet and Apple helped lift the index back into positive territory for 2020. At one point, the NASDAQ was down more than 25% year to date.
Stocks that would benefit from reopening the economy rose again Friday. Airline stocks such as Delta, American and United all gained at least 3.3%. Disney climbed 2.3% while MGM Resorts advanced 3.8%.
The U.S. Labor Department said a record 20.5 million jobs were lost last month, adding the unemployment rate jumped to 14.7% from just 4.4%. Both the spike in job losses and the unemployment-rate surge are post-World War II records.
To be sure, neither print was as bad as feared. Economists polled by Dow Jones expected a loss of 21.5 million jobs and an unemployment rate of 16%.
Sentiment on Wall Street was also aided after Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer spoke to Chinese Vice Premier Liu He late on Thursday about the phase one trade deal signed in January.
In a statement, they said both sides "agreed that in spite of the current global health emergency, both countries fully expect to meet their obligations under the agreement in a timely manner."
Prices for the 10-Year Treasury were slightly lower, raising yields to 0.68% from Thursday’s 0.64%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.07 to $24.62 U.S. a barrel.
Gold prices dipped $16 to $1,709.80 U.S. an ounce.
