Record Week for North American Stocks

Energy Stocks Cook, Health-Care Wanes

Equities in Canada’s biggest market ended the week much like they began it, on a high and only going higher, as positive signals on a trade truce between the United States and China supported sentiment.

The TSX Composite Index gained 56.29 points to finish Friday and the week at 17,028.47

The Canadian dollar surged 0.12 cents to 75.59 cents U.S.

Energy stocks rumbled highest and loudest, with Tourmaline Oil Company 55 cents, or 4.3%, to $13.25, while Meg Energy increased 17 cents, or 3.2%, to $5.51.

Among consumer staples, Premium Brands stretched 95 cents, or 1.2%, higher to $83.83, while Alimentation Couche-Tard took on 45 cents, or 1.1%, to $41.25.

In real-estate, Boardwalk REIT popped $2.56, or 5.7%, to $47.40, while units of Brookfield Property Partners LP prospered 57 cents, or 2.3%, to $25.90

Health-care, however, took a drubbing, as Aurora Cannabis got roughed up 78 cents or 17.8%, to $3.60, while Cronos Group slouched 76 cents, or 8.4%, to $8.27.

Among gold issues, OceanaGold tumbled 43 cents, or 13.7%, to $2.72, while Eldorado Gold surrendered 35 cents, or 3.3%, to $10.12.

On the economic front, Statistics Canada said foreign investors acquired $4.8 billion of Canadian securities in September, all corporate securities. At the same time, Canadian investors reduced their holdings of foreign securities by $2.4 billion, led by a divestment in U.S. instruments.

Meanwhile, the Canadian Real Estate Association declared home selling activity was up 12.9% year-over-year (y-o-y). The number of newly listed properties declined by 1.8% month-on-month. The MLS® Home Price Index advanced by 0.6% m-o-m and 1.8% y-o-y.

ON BAYSTREET

The TSX Venture Exchange dropped 1.43 points at 528.58

All but two of the 12 Toronto subgroups were positive, with energy remaining in control, up 1.2%, consumer staples, better by 0.7%, and real-estate up 0.6%.

Only health-care stocks, off 2.7%, and gold, down 0.8%, were negative

ON WALLSTREET

The Dow Jones Industrial Average hit a fresh record high on Friday after White House economic advisor Larry Kudlow said China and the U.S. were getting close to reaching a trade deal.

The blue-chip index roared ahead 207.12 points to 27,989.08

The S&P 500 jumped 23.83 points to another record, at 3,120.46

The NASDAQ surged 61.81 points to 8,533.47, also an all-time high.

The Dow notched its fourth week of consecutive gains, rising 1.2% in that time. The S&P 500 advanced 0.9% for the week, posting its sixth straight weekly gain. That’s the longest streak for the S&P 500 since 2017, when it climbed for eight straight weeks. The NASDAQ rose for a seventh consecutive week, advancing 0.8%.

Trade-sensitive names such as Caterpillar, Boeing, Apple and Micron Technology all rose at least 1.2% on Friday. Gold, meanwhile, fell as safe-haven assets pulled back broadly.

Health care stocks also rose more than 2% after the Trump administration released a plan that would force hospitals and insurance companies to disclosed the rates they negotiated. UnitedHealth, Humana and Danaher were all up more than 4%.

Kudlow, the National Economic Council director, said Thursday that a deal between the two nations was approaching, highlighting constructive discussions with Beijing. His comments came after multiple reports suggested both sides were at loggerheads over the terms of a phase one trade agreement.

Investors also digested mixed data on the U.S. consumer. Retail sales grew by 0.3% in October, topping an estimate of 0.2%. However, the data also showed big-ticket purchases dropped last month.

Prices for the 10-Year U.S. Treasury lost ground, raising yields to 1.83% from Thursday’s 1.81%. Treasury prices and yields move in opposite directions

Oil prices took on $1.01 to $57.78 U.S. a barrel.

Gold prices fell $6.10 to $1,467.30 U.S. an ounce.