Canada's main stock index climbed on Friday, as a jump in oil prices propped up energy stocks, while upbeat corporate earnings also helped keep the index in the green.
The TSX recovered from early stumbles to surge 58.79 points, to move into noon hour EST Friday at 20,799.23.
The Canadian dollar dropped 0.41 cents at 74.69 cents U.S.
Methanex gained $5.19, or 8.3%, to 68.01, and Open Text Corp. picked up $2.38, or 5.4%, to $46.65, after reporting better-than-expected quarterly results.
Among individual stocks, Canada Goose Holdings gained $2.92, or 11.7% to $27.92, after falling as much as 24% in the previous session, when the luxury goods maker cut its full-year forecasts.
Silver miners such as Endeavour Silver and SilverCrest Metals were among top losers, Endeavour shedding 24 cents, or 5.2%, to $4.39, while SilverCrest dipped 68 cents, or 7.6%, to $8.23.
ON BAYSTREET
The TSX Venture Exchange slipped 4.68 points to 626.
The 12 subgroups were evenly divided, as energy dived 3.2%, gold fell 2.9%, and materials doffed 2%.
The half-dozen gainers were led by information technology, up 1.9%, real-estate, improving 1.3%, and industrials, up 1%.
ON WALLSTREET
The S&P 500 fell slightly Friday as a strong jobs report worried some investors the Federal Reserve would keep hiking rates. Sill, the broader market index is trading around its highest level in five months. It’s also headed for its fourth weekly gain in five weeks as investors bet falling inflation is ahead.
The Dow Jones Industrials regained 24.47 points to pause for lunch at 34,078.41, supported by gains in Apple shares.
The S&P 500 hobbled 14.84 points to 4,164.92.
The NASDAQ Composite stepped back 43.83 points to 12,156.99.
The major averages are headed for a positive week. The S&P 500 is up more than 2% this week. The NASDAQ Composite gained more than 4% this week, on pace for its fifth-straight winning week as it rode a tech-fueled rally to outperform the other major indexes. The Dow was also higher, up 0.4%.
Investors absorbed a stronger-than-expected January jobs report that spurred bond yields higher. The U.S. economy added 517,000 jobs in January, blowing past Dow Jones estimates of a jobs gain of 187,000 last month. The 10-year Treasury yield topped 3.5% after jumping 12 basis points following the report.
Apple shares jumped about 4%, reversing earlier losses after missing estimates on the top and bottom lines in its most recent quarterly report. Meanwhile, Google-parent Alphabet fell about 0.3% following disappointing results. Amazon’s stock also declined more than 4% after the e-commerce giant’s report.
The earnings picture wasn’t much better outside of tech, as Ford and Starbucks also missed estimates. Ford fell more than 5%, and Starbucks gave back 2%.
Investors absorbed a much-stronger-than-expected January jobs report. The U.S. economy added 517,000 jobs in January, blowing past Dow Jones estimates of a jobs gain of 187,000 last month.
Prices for the 10-year Treasury staggered, lifting yields to 3.52% from Thursday’s 3.39%. Treasury prices and yields move in opposite directions.
Oil prices faded $1.21 to $74.67 U.S. a barrel.
Gold prices slumped $49.50 to $1,891.20 U.S. an ounce.
