Canada's main stock index showed muscle on Friday, with real estate stocks leading the declines, while investors assessed domestic GDP data.
The TSX grabbed 88.03 points to begin the week’s last session at 31,284.74.
The Canadian dollar gained 0.28 cents to 71.57 cents U.S.
In corporate news, CIBC upgraded Canadian National Railway's stock rating to "outperformer" from "neutral." CN shares began Friday jumped $1.70, or 1.3%, to $133.52.
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.
The 12 TSX subgroups were evenly split, with materials growing1.1%, energy rumbling 1%, and industrials, nicking 0.2% higher.
The half-dozen laggards were weighed most by information technology stocks, sagging 0.7%, consumer staples, sliding 0.4%, and consumer discretionary issue, off 0.3%.
ON BAYSTREET
The TSX Venture Exchanged vaulted 17.27 points, or 1.9%, to 939.75.
ON WALLSTREET
The NASDAQ rose on Friday following a “cooling issue” at a data center that caused a disruption in assets traded at the Chicago Mercantile Exchange.
The Dow Jones Industrials leaped first thing Friday by 278.67 points to 47,705.79.
The S&P 500 Index grabbed 20.60 points to 6,833.21.
The NASDAQ, for its part, captured 53.82 points to 23,268.51.
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 Composite 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 58 cents to $59.23
Gold prices progressed $20.70 to $4,223.
