TSX Closes Week on Up Note

Macy’s Shines in U.S.

Markets in Toronto maintained status in the green Friday, as tech and consumer discretionary stocks fended off losses by resource stocks.

The S&P/TSX Composite Index grew 33.72 points to close the day and the week at 16,108.09

The Canadian dollar inched up 0.01 cents to 78.67 cents U.S.

Techs appeared strongest by the close, with BlackBerry gaining eight cents a share to $13.62, and Constellation Software chugging ahead $14.78, or 1.9%, to $776.78.

Among consumer discretionary stocks, Magna International hiked 49 cents to $68.71. Canadian Tire surged $3.50, or 1.5%, to $237.50.

In the consumer staples field, Restaurant Brands International took on 59 cents to $84.21, while Metro moved forward 27 cents to $40.27.

Gold stocks dulled in price as gold prices dipped. Barrick Gold fell 2% to $17.97 as gold prices dipped 28 cents, or 1.5%, to $18.06, while Goldcorp doffed 21 cents, or 1.2%, to $16.76.

Among materials stocks, Agnico Eagle Mines faded three cents to $57.22.

ON BAYSTREET

The TSX Venture Exchange inched ahead 1.3 points to 794.09

All but two of the 12 TSX subgroups were positive on the day, as information technology zoomed 1%, consumer discretionary improved 0.6%, and consumer staples were 0.4% to the good.

The two laggards were gold, down 0.6%, and materials, off 0.3%.

ON WALLSTREET

U.S. equities rose on Friday as investors placed bets on a strong holiday shopping season.

The Dow Jones industrial average came off its highs of the day, but still added 31.81 points toward the end of Friday trading to 23,557.99, with Visa leading advancers on the 30-stock index. The Dow also closed near a record closing high.

The S&P 500 picked up 5.34 points to 2,602.42, with information technology as the best-performing sector. Macy's was among the best-performing stocks in the index. The S&P 500 also closed above 2,600 for the first time.

The NASDAQ Composite gained 21.8 points on top of Wednesday’s all-time high, to 6,889.16, posting intraday and closing records as shares of Amazon gained 2.6% to a record.

Equities finished the shortened trading week with strong gains. The S&P 500 and Dow rose 0.9% while the NASDAQ posted a 1.6% weekly gain.

Long lines of people began forming by Thursday afternoon outside of retailers like Best Buy and Target, among others, as shoppers got ready for Black Friday. Digital sales were also robust, according to Adobe Analytics. The company said U.S. consumers had already spent more than $1.52 billion online by 5 p.m. ET on Thanksgiving evening.

Shares of Macy's, Nordstrom and Kohl's all closed higher. Overall, traditional retail stocks have taken a hit this year as more people shift to online shopping outlets, helping Amazon increase its market share.

U.S. markets were closed Thursday for Thanksgiving. Equity markets wrapped up at 1 p.m. EST Friday, while bond markets close at 2 p.m. EST.

Prices for the benchmark 10-year Treasury note lost ground, raising yields to 2.34% from Wednesday’s 2.32%. Treasury prices and yields move in opposite directions.

Oil prices improved 93 cents a barrel to $58.97 U.S.

Gold prices fell $4.20 to $1,288 U.S. an ounce.