Canada's main stock index rose on Friday, setting up the market for a seventh day of gains, buoyed by Bombardier Inc and by resource stocks that were lifted by higher commodity prices.
The S&P/TSX composite index acquired 61.06 points to greet noon at 15,387.37
The Canadian dollar fell 0.08 cents to 79.39 cents U.S.
A Reuters report that said Bombardier was exploring ways to raise money from its transportation unit, potentially worth up to $5 billion, as it grapples with cost overruns in its aircraft business, sent shares up 5.4% at $2.74 in late morning trading. Shares were earlier up as much as 7.3%.
Some of the most influential movers on the index were Suncor Energy, which rose 1.2% to $39.86, and TransCanada Corp, which advanced 1% to $55.77.
Other top index movers included Goldcorp, which climbed 3.3% to $24.44.
On the economic front, Statistics Canada reported that the economy created 29,000 jobs in March, mostly part-time. The unemployment rate was unchanged at 6.8%.
Elsewhere, Canada Mortgage and Housing Corporation said new housing starts totaled 179,016 units in March compared to 180,236 in February.
Finance Minister Joe Oliver said on Thursday private sector economists estimate that Canada's economy will grow at about 2% this year and will pick up after that
ON BAYSTREET
The TSX Venture Exchange eked up 4.93 points to 695.93.
All but two of the 14 Toronto subgroups were higher, with gold soaring 2.3%, health-care and materials gaining 1.3%.
The two laggards were global base metals, sagging 0.7%, and consumer staples, fading 0.3%.
ON WALLSTREET
Stocks traded higher in mid-morning Friday, with the Dow hitting the 18,000 mark for the first time in April as investors eyed the start of earnings season and the rising dollar.
The Dow Jones Industrials gained 74.80 points at noon to 17,992.73, led by General Electric and Merck the greatest laggard.
The S&P 500 index picked up 8.38 points to 2,099.56, with industrials leading all sectors.
The NASDAQ index moved higher 13.84 points to 4,999.41
Citi upgraded Netflix to "buy" from "neutral," saying it doesn't share competition concerns that are currently reflected in the stock's price.
Citi added General Motors stock to its Citi Focus List, saying a recent pullback makes for an even more attractive entry point and that it retains the optimism reflected in a January analyst report.
Gap reported a two-percent rise in comparable store sales for March, above the 0.6% consensus estimate. The results were entirely driven by a 14% gain by Gap's Old Navy chain, while the Gap and Banana Republic brands saw declines.
Another company investors will be eyeing is Apple, as it began taking pre-orders of its smartwatch on Friday.
The corporate earnings outlook for 2015 seems bleak, as first-quarter earnings for the S&P 500 index are expected to come in 4.7%lower, while second-quarter earnings are expected to lower 2.1%.
While some companies have already reported their quarterly earnings, many analysts believe earnings season will officially begin next week.
On the economic data front, U.S. home prices for the month of March fell 0.3%, in line with analysts' expectations.
Prices for 10-year U.S. Treasuries gained, lowering yields to 1.94% from Thursday’s 1.96%. Treasury prices and yields move in opposite directions.
Oil prices strengthened 45 cents to $51.24 U.S.
Gold prices recovered $12.70 to $1,206.30 U.S.
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