Markets in Canada’s largest centre took a commanding position early in the day Friday and never let go, largely due to strength in tech and consumer stocks.
The S&P/TSX Composite Index gained 72.24 points to conclude the day and the week at 16,071.25
The Canadian dollar plummeted 0.77 cents at 75.19 cents U.S.
Among tech shares, Shopify reached $6.00 higher, or 2.4%, to $255.28, while BlackBerry was 21 cents juicier, or 1.8%, to $11.65.
Among consumer discretionary issues, Magna International acquired 55 cents to $69.99, while Gildan Activewear soared 79 cents, or 1.7%, to $47.85.
Industrials sang, too. Martinrea International shares hiked after the auto supplier's fourth-quarter revenue beat analysts' estimates.
Martinrea shares rocketed $1.54, or 12.6%, to $13.81.
Among communications concerns, BCE let go of 67 cents, or 1.1%, to $57.85, while Shaw dropped nine cents to $27.05.
In the gold patch, Barrick Gold backpedaled 26 cents, or 1.6%, to $16.34, while Kinross Gold waned 14 cents, or 3.1%, to $4.25.
One big decliner was First Capital Realty, down 65 cents, or 3%, to $20.77, after entering deal to buy majority stake in Gazit Globe Ltd.
On the economic calendar, Statistics Canada says real gross domestic product figures slowed to 0.1% in the fourth quarter, the slowest pace since the second quarter of 2016.
ON BAYSTREET
The TSX Venture Exchange regained 0.89 points to 624.43
Eight of the 12 TSX subgroups were higher on the session, as technology issues strengthened 1.6%, consumer discretionary climbed 1.1%, and industrials gained 0.9%.
The four laggards were communications, sinking 1.6%, gold, doffing 1%, and real-estate, off 0.4%
ON WALLSTREET
Stocks rose on Friday, the first day of March, as investors built on the market's strongest start to a year in nearly three decades.
The Dow Jones Industrial Average finished strong, gaining 110.45 points to 26,026.45, as Nike outperformed.
The S&P 500 stayed afloat 19.27 points to 2,803.76, closing above 2,800 for the first time since Nov. 8.
The NASDAQ Composite was up 62.82 points to 7,595.35, led by gains in Amazon.
Friday's moves come a day after the major indexes posted solid monthly gains in February, pushing the S&P 500 to its best start to a year since 1991. The S&P 500 is up more than 11% for the year, along with the Dow. The NASDAQ Composite, meanwhile, is up 14%.
Shares of Tesla dropped more than 8% after Tesla launched its standard Model 3 car, which starts at $35,000. However, analysts were unimpressed by the announcement. A Barclays analyst even called it the "un-iPhone moment."
Amazon shares rose more than 2% after The Wall Street Journal reported the company had plans to open its own grocery store chain at a lower price point that Whole Foods. Shares of Kroger took a beating on the news, sliding more than 4%.
The Institute for Supply Management released data showing U.S. manufacturing activity expanded at its slowest pace since November 2016. Meanwhile, the University of Michigan consumer sentiment index came in below expectations for February.
Bloomberg News reported Thursday that U.S. officials are getting a final trade deal ready for President Donald Trump and Chinese President Xi Jinping to sign around mid-March.
Prices for the benchmark 10-year U.S. Treasury slipped, raising yields to 2.77% from Thursday’s 2.72%. Treasury prices and yields move in opposite directions.
Oil prices dropped $1.43 to $55.79 U.S. a barrel.
Gold prices tumbled $24.40 to $1,291.70 U.S. an ounce.
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