(CORRECTS TSX WEEKLY TOTAL)
Equity markets in Canada followed their American brethren into the sun on Friday, celebrating huge gains, led by health and energy-related stocks.
The TSX marched 133.90 points to close the day and the week at 20,519.37. On the week, the index was in the minus column, however, by 28 points, or 0.1%.
The Canadian dollar was down 0.04 cents to 77.55 cents U.S.
Health-care stocks proved the champion on Friday, as Tilray spread its wings 17 cents, or 6%, to $2.99, while Bausch Health Companies were propelled 29 cents, or 2.4%, to $12.64.
In energy stocks, Baytex Energy surged 41 cents, or 8.4%, to $5.28, while Secure Energy Systems grabbed 34 cents, or 5.2%, to $6.86.
In tech issues, Celestica celebrated with a gain of $3.59, or 15.1%, to finish the week at $27.36, while HUT 8 Mining picked up 23 cents, or 15.3%, to $4.60.
Real-estate dragged, however, with H&R REIT units slipping 19 cents, or 1.7%, to $10.23, while StorageVault Canada lost nine cents, or 1.8%, to $4.86.
Among utilities in the red, Canadian Utilities was roughed up 77 cents, or 2.3%, to $32.90, while Boralex docked 40 cents, or 1.1%, to $34.65.
In the consumer staples sector, George Weston skidded $2.19, or 1.4%, to $150.61, while Metro shares slid 34 cents to $71.71.
Economically speaking, Statistics Canada reported real gross domestic product rose 0.3% in May, as services-producing industries advanced 0.5% while goods-producing industries contracted 0.3%.
ON BAYSTREET
The TSX Venture Exchange jumped 13.53 points, or 2.2%, to 625.10, for a gain on the week of 6.2 points, or just over 1%.
All but three of the 12 TSX subgroups gained ground on the day, with health-care leaping 2.9%, while energy chugged ahead 2.3%, and information technology progressed 2%.
The three laggards were real-estate and utilities, each down 0.4%, while consumer staples faded by 0.01%.
ON WALLSTREET
Stocks rose Friday with the Dow Jones Industrial Average and S&P 500 closing out their third winning weeks in a row as a measure of inflation closely watched by the Federal Reserve came in at its lowest in nearly two years.
The 30-stock index leaped 176,24 points to conclude Friday at 35,458.96.
The S&P 500 Index rebounded 44.77 points to 4,582.18.
The NASDAQ index popped 266.55 points, or 1.9%, to 14,316.66.
All three major averages enjoyed weekly gains with the 30-stock average up by 0.7%. On Thursday, the Dow ended a 13-day win streak, a length not seen since 1987. The S&P is on track to advance 1%, and the tech-heavy index is up 2%.
Earnings season continued with Dow member Procter & Gamble shares gaining nearly 3%. The consumer goods company behind Tide and other brands beat analysts’ earnings and revenue expectations in its most recent quarter.
Intel jumped 6.6% as investors applauded a return to profitability, while Roku climbed 31% after beating Wall Street expectations on both the top and bottom lines.
On the other hand, Ford Motor shares fell 3.4% even though the automaker beat estimates and raised guidance. The company said its electric vehicle adoption was taking longer than expected due to higher costs.
June data for the personal consumption expenditures price index continued to show easing inflation. The gauge showed PCE gained 0.2% month-over-month, in line with the 0.2% increase expected by economists polled by Dow Jones. Core PCE rose 4.1% from the year-ago period, lower than the anticipated 4.2%.
The data is of particular interest after the central bank raised interest rates earlier this week in a widely expected move. The Fed targets inflation at 2% annually.
Prices for the 10-year Treasury jumped, lowering yields to 3.96% from Wednesday’s 4.01%. Treasury prices and yields move in opposite directions.
Oil prices resurged 35 cents to $80.44 U.S. a barrel.
Gold prices climbed $13.00 to $1,958.70 U.S. an ounce.
