Markets in Toronto put aside fears of a negative finish by noon EDT Friday, and flirted with gains, though energy shares declined on the back of falling oil prices.
The S&P/TSX Composite Index moved to within 5.96 of breakeven by midday to 16,570.04.
If the index falls on the week, it would end a four-week rally.
The Canadian dollar nudged up 0.14 cents at 74.32 cents U.S.
Pressuring the energy sector was a 2.9% drop in shares of Imperial Oil after the oil refiner cut its 2019 spending forecast due to extreme cold weather, production cuts enforced by Alberta's government and weak refining margins.
Imperial shares shed $1.15 to $38.79.
The largest percentage gainer on the TSX was Aecon Group, which rose $1.16, or 6.2%, to $18.68 after stronger-than-expected quarterly results.
Mullen Group fell $1.15, or 9.4%, the most on the TSX, to $11.04, after multiple analysts cut their price targets on the share.
ON BAYSTREET
The TSX Venture Exchange remained afloat 0.25 points to 609.12
Eight of the 12 Toronto subgroups had grown positive by noon hour, with materials surging 1.6%, gold, up 1.5%, and health-care, better by 0.9%.
The four laggards were weighed most by energy, off 2.1%, industrials, weaker by 0.3%, and consumer staples, slumping 0.2%.
ON WALLSTREET
Stocks notched higher on Friday as investors weighed better-than-expected economic data against a mixed batch of quarterly earnings.
The Dow Jones Industrials reasserted themselves 32.92 points to 26,495
The S&P 500 regained 3.90 points to 2,930.07. The NASDAQ Composite dipped 6.62 to 8,112.06
But stock gains were kept in check after companies like Exxon Mobil and Intel delivered quarterly reports that disappointed investors.
Dow member Exxon fell more than 2% after reporting quarterly earnings per share that badly missed analyst expectations. The company’s results were dragged down by poor performances in its refining and chemicals businesses.
Intel, another Dow component, fell more than 10% after the company issued light revenue guidance for the year.
Those results overshadowed stronger-than-expected numbers from Companies like Amazon and Ford Motor.
Amazon shares traded 0.7% higher after results topped expectations on Thursday and Wall Street analysts trumpeted its announced push to one-day delivery for Prime members.
Ford Motor, meanwhile, jumped more than 10% after issuing better-than-forecast quarterly numbers, which were driven by strong truck and SUV sales in North America.
Other companies that reported between Thursday afternoon and Friday morning include, Mattel, Starbucks and American Airlines.
On the macroeconomic calendar, the U.S. Commerce Department revealed Friday that first-quarter gross domestic product was 3.2%, topping the consensus economist estimate of 2.5%, according to Dow Jones. An increase in exports drove the increase. The better-than-expected print was driven by a rise in exports.
Prices for the benchmark 10-year U.S. Treasury were marginally down, raising yields to 2.50% from Thursday’s 2.54%. Treasury prices and yields move in opposite directions.
Oil prices demurred $2.34 to $62.87 U.S. a barrel.
Gold prices spiked $10.10 to $1,289.80 U.S. an ounce.
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