Stocks Flat at Friday Finish

Dow, Intel in Focus During Big Week in U.S.

Stocks in Toronto dipsied and doodled much of Friday, in a struggle to make it back to the breakeven point, while their American cousins threw a record-breaking party.

The S&P/TSX Composite Index dipped 39.78 points to end Friday and the week at 16,488.12. For the last five sessions, the index fell back 1.3 points.

The Canadian dollar squeezed up 0.2 cents to 76.72 cents U.S.

Health-care stocks cast the heaviest anchor on the index, as the beleaguered CannTrust tumbled 70 cents, or 17.3%, the most on the TSX, to $3.34, after the company suspended sales of cannabis products. Earlier this week, the firm said Canada's health regulator found that it produced marijuana in unlicensed facilities.

The company's losses were closely followed by fellow cannabis producer Canopy Growth Co, down four dollars, or 8.3%, to $44.45.

Among utilities, Brookfield Infra Partners slid $1.06, or 1.9%, to $56.30, while Superior Plus dived 30 cents, or 2.2%, to $13.26.

Tech stocks took some lumps, as Kinaxis fell $1.58, or 2%, to $78.58, while Shopify took a hit of $7.62, or 1.9%, to $403.59

The largest percentage gainer on the TSX was Aritzia Inc, which jumped $1.20, or 7.3%, to $17.59, after reporting first-quarter results.

Elsewhere among consumer discretionaries, Martinrea International leaped 49 cents, or 4.8%, to $10.67.

Gold stocks were positive, as Detour Gold hiked 31 cents, or 1.8%, to $17.68, while Eldorado Gold spiked 29 cents, or 3.3%, to $9.12.

In industrials, CAE Inc. was more solid by 97 cents, or 2.7%, to $36.46, while Boyd Group Income Fund units sprang up $4.08, or 2.4%, to $175.04.

ON BAYSTREET

The TSX Venture Exchange dropped 4.37 points to close Friday at 576.03, a descent of 10.54 points on the week, or 1.8%.

Seven of the 12 Toronto subgroups ended the day downward, as health-care ailed 4.4%, utilities slacked 1.1%, and information technology clicked lower by 0.7%

The five gainers were led by consumer discretionary stocks, up 1.3%, gold, shining 0.5% brighter, and industrials, 0.4% mightier.

ON WALLSTREET

Stocks rose to all-time highs on Friday as investors ended a record-setting week on a high note.

The Dow Jones Industrial Average soared 243.95 points to 27,332.03, and hit an all-time high. The 30-stock index rocketed nearly 450 points, or 1.7%, on the week.

The S&P 500 gained 13.86 points to 3,013.77, and also reached a record. The S&P took on 23 points on the week, or 0.8%.

The NASDAQ Composite thundered higher 48.1 points to 8,244.14. The tech-heavy index triumphed 82 points, or 1% on the week.

Shares of Dow, Inc. led the Dow Industrials higher, rising 4%. Intel climbed 2.7%, and Caterpillar, meanwhile, gained 3.3%. J.B. Hunt Transport Services was the best-performing stock in the S&P 500, jumping 5.9%, and leading a 1.8% gain in the industrials sector.

The corporate earnings season kicks off next week as major banks like J.P. Morgan Chase, Citigroup, Goldman Sachs and Bank of America are scheduled to report. Estimates for the season are downbeat, however.

Analysts expect S&P 500 earnings to have fallen by more than 2% in the second quarter.

Fed Chair Jerome Powell testified in front of congressional leaders this week that "crosscurrents" from weaker overseas economic activity and rising trade tensions are dampening the outlook on the U.S. economy.

Prices for the benchmark 10-year U.S. Treasury slid a bit, raising yields to 2.11% from Thursday’s 2.10%. Treasury prices and yields move in opposite directions.

Oil prices acquired four cents to $60.24 U.S. a barrel.

Gold prices gained $9.70 to $1,409.10 U.S. an ounce.