What a week it proved to be for stocks in Canada, with strong gains leading up to Friday’s session, led by health-care and consumer stocks.
The TSX Composite jumped 115.46 points to close Friday at 20,811.19. On the last complete week of the year, the index gained 392 points, or 1.7%.
The Canadian dollar tallied 0.15 cents at 75.42 cents U.S.
Health-care stocks led the parade, with Tilray climbing 18 cents, or 6%, to $2.91, while Chartwell Retirement Residences units took on 13 cents, or 1.1%, to $11.59.
Consumer staples were next, with Alimentation Couche-Tard hiking $1.45, or 1.9%, to $76.17, while Premium Brands better by $1.65, or 1.8%, to $94.96.
In real-estate, units of Boardwalk REIT took on $1.62, or 2.3%, to $70.98, while Interrent REIT grabbed 30 cents, or 2.4%, to $13.07.
Only communications were shut out of the party, with Rogers docking 61 cents, or 1%, to $61.09, while Telus Corp. lost 18 cents to $23.28.
The Canadian markets will be shuttered on December 25-26 on account of Christmas and Boxing Day holidays.
On the economic calendar, Statistics Canada said real gross domestic product was essentially unchanged in October as services-producing industries edged up 0.1%, while goods-producing industries were essentially unchanged.
ON BAYSTREET
The TSX Venture Exchange improved 6.07 points, or 1.1%, Friday to 557.12. On the week, the index zoomed 25 points, or 4.77%.
All but one 12 subgroups gained ground Friday, with health-care up 2.2%, gold hiking 1.6%, materials up 1.3%.
Only communications were negative, and only 0.1%.
ON WALLSTREET
T
he S&P 500 rose Friday after cooler inflation data, with the major averages heading for an eighth-straight winning week as Wall Street looked to extend its year-end rally.
The Dow Jones Industrials shed 18.38 points, however, to close Friday and the week at 37,385.97.
The S&P 500 added 7.88 points to 4,754.63. At current levels, the broader index is 0.8% from its record close, and 1% from intraday record.
The NASDAQ gained 29.11 points to 14,992.97.
Dow component Nike dropped 12% after lowering its sales outlook, and announcing plans to cut costs by about $2 billion over the next three years.
The Federal Reserve’s favorite inflation gauge came in less than expected. The November core personal consumption expenditures price index rose just 0.1% last month, and gained 3.2% from a year ago, about in line with expectations. Economists polled by Dow Jones were anticipating a rise of 0.1% month over month, and 3.3% year over year.
The three major averages are on pace for their eighth positive week in a row — a first for the S&P 500 since 2017 and for the Dow dating back to 2019. The S&P 500 is up 0.9% for the week, while the Dow has a gain of 0.4%. The NASDAQ is up more than 1% in the period.
The U.S. stock market will be closed on Monday for Christmas.
Prices for the 10-year Treasury slipped a mite, raising yields to 3.90% from Thursday’s 3.89%. Treasury prices and yields move in opposite directions.
Oil prices decreased 34 cents to $73.55 U.S. a barrel.
Gold prices jumped $13.40 at $2,064.70.
