Canada's main stock index rose to a fresh peak on Friday, buoyed by gains in gold miners and energy stocks, while mixed labour market data did little to alter bets on the Bank of Canada's monetary policy path.
The TSX popped 300.74 points to stop for lunch at 32,679.38.
The Canadian dollar faded 0.16 cents to 71.96 cents U.S.
Among companies, Aritzia and Tilray Brands reported strong quarterly results on Wednesday.
Aritzia was up $4.27, or 3.4%, to $129.52, while shares in Tilray gained 38 cents, or 3%, to $13.03.
On the economic beat, Statistics Canada reported employment was little changed, adding 8,200 jobs and the unemployment rate rose 0.3 percentage points to 6.8%, as more Canadians searched for work.
ON BAYSTREET
The TSX Venture Exchange popped 10.05 points, or 1%, to 1,048.83.
All but one of the 12 TSX subgroups were positive to start Friday, with materials picking 1.5%, energy sprinting 1.4%, and consumer discretionary up 0.9%.
Only telecoms shed strength, and only 0.3%.
ON WALLSTREET
The S&P 500 rose to a new all-time intraday high on Friday, pacing for a weekly gain, following the release of the latest jobs report.
The Dow Jones Industrials rallied 288.45 points to 49,554.56.
The much-broader index took on 46.25 points to 6,968.11
The NASDAQ jumped 183.79 points to 23,660.68.
The three major averages remain on track for a winning week. The S&P 500 is up more than 1% week to date, while the Dow and NASDAQ have jumped more than 2% and almost 2%, respectively.
Stocks remain on track for a winning week. The S&P 500 is up about 1% week to date, while the Dow has built roughly 2.1%, and NASDAQ progressed 1.1%.
Shares of homebuilders supported the broader market Friday after President Donald Trump directed “representatives” to buy mortgage bonds as a way to drive rates down for homebuyers. D.R. Horton jumped 6%, as did PulteGroup and Lennar. Home improvement stocks such
as Home Depot also gained.
The December jobs report showed nonfarm payrolls increasing by 50,000 last month, less than the 73,000 that economists polled by Dow Jones had estimated.
That data, though slightly weaker than expected, showed a U.S. economy that’s still trudging along, with investors anticipating that growth will ramp up.
Additionally, the unemployment rate inched down to 4.4%, while economists had forecast 4.5%. Traders took that as a sign that improvement in the economy would happen soon.
Prices for the 10-year Treasury were higher, lowering yields to 4.17%, from Thursday’s 4.18%.
Oil prices gained $1.72 to $59.48 U.S. a barrel.
Gold prices added $53.80 to $4,514.50.
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