North American equity markets approached midday Friday mixed, with U.S. stocks edging slightly higher and the TSX inching higher amid weakness in commodity prices - especially gold and silver.
The S&P/TSX composite index grew 19.38 points to greet noon at 12,489.82
The Canadian dollar strengthened 0.21 cents to 101.47 cents U.S.
Shares in Lululemon Athletica Inc. are down 5.4% to $70.29 after Credit Suisse downgraded the stock to "neutral" from "outperform" and cut its price target to $80 from $86. It cited concerns over slowing comparable-store sales growth in Canada and margin pressures.
Gold stocks were roughed up, primarily Allied Nevada, which took it on the chin 3% to $27.35.
Tech stocks proved stronger, most notably Celestica, up 2.8% to $8.38. Research In Motion also fared well, gaining 2.2% to $11.60.
On the economic front, Statistics Canada reported this morning that employment rose by 40,000 in December, the fourth increase in five months, all in full-time work. The unemployment rate declined 0.1 percentage points to 7.1%, the lowest in four years.
Elsewhere, the nation’s number crunchers said their Industrial Product Price Index was down 0.3% in November compared with October, due mostly to lower prices for petroleum and coal products. The Raw Materials Price Index fell 1.9%, on weaknesses for energy prices.
ON BAYSTREET
The TSX Venture Exchange shed 4.58 points to 1,221.59
Nine of the 14 Toronto subgroups had moved positive by noon, especially information technology, up 0.8%, real-estate, 0.7% stronger, and financials, better by 0.5%.
The five laggards were weighed mostly by gold, down 1.1%, materials, sliding 0.7%, and health-care, easing 0.3%.
ON WALLSTREET
Stocks edged higher Friday, at the end of a strong week for markets, as investors digested the government's latest jobs report, which showed hiring remained steady in December.
The Dow Jones Industrial Average tacked on 17.70 points to break for lunch Friday at 13,409.10
The S&P 500 gained 3.96 points to 1,463.33. The Nasdaq Composite faded 4.25 points to 3,104.81
Despite a muted Friday, the three major indexes are up about 4% for the week.
Economically speaking, before the market opened, the U.S. Labor Department reported that non-farm payrolls rose by 155,000 in December and the jobless rate stood at 7.8%.
Economists expected an increase of 160,000 jobs. November’s unemployment rate, originally reported as 7.7%, was changed
In other positive economic news, the Institute of Supply Management's non-manufacturing index rose more than expected. Because it makes up the vast majority of the nation's economy, the service sector is a good barometer of where the economy is heading.
Meanwhile, factory orders were flat in November, following a 0.8% rise a month earlier.
Prices on the 10-year U.S. Treasury note lost yet more ground, boosting yields to 1.93% from Thursday’s 1.90% Treasury prices and yields move in opposite directions.
Oil prices dropped 51 cents to $92.41 U.S. a barrel.
Gold prices jettisoned $30.10 an ounce to $1,644.50 U.S.
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