Canada's main stock index moved higher on Friday, lifted by gains in real estate and financial shares, as investors assessed fresh U.S. earnings and monitored developments in the Middle East.
The TSX zoomed 216.87 points to reach noon EDT Friday at 35,409.53. On the week so far, the index has spiked 145 points, or 0.4%.
The Canadian dollar gained 0.17 cents to 71.01 cents U.S.
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Financial shares were among the biggest gainers, with Onex Corp up $2.97, or 2.9%, to $106.41 and Power Corporation of Canada up $2.27, or 2.5% to $93.56.
Real estate stocks gained, reversing the previous session's declines. Colliers International jumping $4.93, or 3.7%, to $137.13, FirstService galloping $10.18, or 5.5%, to $194.79, and Altus Group up $1.67, or 3.9%, to $44.20 led gains in the sector.
Oil prices slipped, but were still on track for weekly gains over concerns about disrupted energy flows in the Red Sea and fears of further escalation in the U.S.-Israeli war on Iran.
Earlier in the week, Trump had imposed a 50% tariff on a range of Canadian imports. However, the U.S. is aiming for interim trade deals with Canada and Mexico by the end of 2026.
Elsewhere in the macroeconomic world, Statistics Canada’s Industrial Product Price Index declined 1.4% month over month in June and gained 12.4% year over year. The Raw Materials Price Index decreased 6.9% month over month in June and increased 20.7% year over year during the same month.
Its new housing price index sank 0.1% in June, compared to a 0.3% loss in May.
ON BAYSTREET
The TSX Venture Exchange poked higher 0.44 points Friday to 874.53. The index is ahead of last Friday by 19.6 points, or 2.3%.
All but one of the 12 TSX subgroups were positive, with gold, improving 1.4%, while materials and real-estate hiked 1.3% each.
Only energy faltered, and 1% at that.
ON WALLSTREET
The NASDAQ Composite fell on Friday, bogged down by chip stocks, as the index headed for a losing week.
The Dow Jones Industrials popped 364.58 points to 52,076.40.
The S&P 500 improved 40.1 points to 7,448.40
The NASDAQ Composite climbed out of its cave, gaining 5.32 points to 25,143.02
The NASDAQ is now on pace for a weekly loss, declining 2% in the period. The Dow and S&P 500 are also tracking for a losing week, as both have each shed less than 1% week to date.
Intel shares fell 4%, reversing course from earlier gains after the chipmaker’s second-quarter results exceeded Wall Street’s expectations.
Other chipmakers slid alongside it, with Broadcom and Advanced Micro Devices each down 2%.
U.S. President Donald Trump said he will soon make a decision on whether to launch a “massive attack” on Iran after the conflict in the Middle East extended to a new battleground in the Red Sea.
Speaking to Axios on Thursday, the president said the proposed strikes would be bigger than anything seen in the war so far, and that Iran has not “received enough pain yet.”
Prices for the 10-year Treasury gained ground, lowering yields to 4.66% from Thursday’s 4.7%. Treasury prices and yields move in opposite directions.
Oil prices dipped $4.22 to $87.97 U.S. a barrel.
Gold prices gained $28.30 to $4,078.50 U.S. an ounce.
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