Friday, February 6, 2026 4:39 PM

Markets Climb to Near-Record Levels

Markets across North America celebrated a glorious end of the week, with major gains. And stocks in Canada joined in the party, on the backs of gold and material shares.

The TSX popped 476.38 points, or 1.5%, to conclude Friday at 32,470.98. On the week, the index gained 547 points, or 1.7%.

The Canadian dollar climbed 0.3 cents to 73.23 cents U.S.

In corporate news, Saputo reported third-quarter revenue after the bell on Thursday that missed analysts' estimates, while energy firm Arc Resources' fourth-quarter revenue beat estimates.

Saputo shares gained 22 cents to $42.74.

Capstone Copper said on Friday that full operations have resumed at Chile's Mantoverde mine following an end to a labour strike. Capstone shares regained 79 cents, or 5.3%, to $15.72.

Gold issues proved the kings, with New Gold jumping $1.55, or 12%, to $14.48, while Novagold captured $1.18, or 10.4%, to $12.56.

In materials, Discovery Silver picked up 85 cents, or 19.5%, to $9.76, while Endeavour Silver soared $1.21, or 8.5%, to $15.52.

In health-care plays, Curaleaf improved 29 cents, or 9.7%, to $3.27, while Bausch Health Companies gained 19 cents, or 2.4%, to $8.03.

On the economic front, Statistics Canada says Employment edged down in January by 0.1% and the unemployment rate fell by 0.3 percentage points to 6.5%, as fewer people searched for work.

Ivey Purchasing Managers Index (PMI) data fell to 50.9 in January from rose to 51.9 last month. January 2025's reading was 47.1.

ON BAYSTREET

The TSX Venture Exchange spiked 45.69 points, or 4.7%, to 1,015.34. The Venture struggled during the week, and is 34.74 points, or 3.3%, below last Friday’s close.

All 12 TSX subgroups were higher, with gold brighter by 4.8%, materials up 3.9%, and health-care better by 2.4%.

ON WALLSTREET

Stocks surged on Friday as technology stocks recovered following several days of heavy selling in the sector and bitcoin rebounded following
a rout that took the popular cryptocurrency down more than 50% at one point.

The Dow Jones Industrials charged ahead 1,206.95 points, or 2.5%, to 50,115.67, exceeding the 50,000 level for the first time ever and turning positive for the week.

The S&P 500 index triumphed 133.90 points, or 2%, to 6,932.30. With those moves, the S&P 500 climbed slightly back into the green for 2026.

The NASDAQ popped 490.63 points, or 2.2%, to 23,031.73.

Even with Friday’s pop, the S&P 500 was still on pace for a 0.1% decline for the week, while the NASDAQ is down almost 2% on the week.

The 30-stock Dow, meanwhile, is sitting up 2.5% week to date, benefitting from some rotation into some economically cyclical stocks even as the overall market was weighed down by tech selling.

Nvidia and Broadcom were two of the key winners Friday, with the former increasing by 8% and the latter growing 7% following big declines earlier in the week. Other stocks such as Oracle and Palantir Technologies also bounced back as investors reconsidered some of the names at cheaper levels. Oracle and Palantir each rose 4%. Some key software stocks like ServiceNow — which has been the epicenter of the tech selloff because of an artificial intelligence disruption fear of software — remained weak on Friday, however.

Amazon was an outlier Friday, as shares sank 6% after the e-commerce giant posted earnings per share slightly under analyst expectations and told investors to expect $200 billion in capital expenditures this year.

Prices for the 10-year Treasury dipped slightly, raising yields to 4.21% from Thursday’s 4.20%. Treasury prices and yields move in opposite directions.

Oil prices recovered 16 cents to $63.45 U.S. a barrel.

Gold prices recovered $85.20 to $4,974.70 U.S. an ounce.