North American stocks were up in Friday trading, following the release of payrolls reports on both sides of the border, and a strong report on U.S. service-sector activity.
However, concerns remain about a renewed budget and debt-ceiling squabble in Washington.
The S&P/TSX composite index grew 70.37 points to end the week at 12,540.81
The Canadian dollar nipped up 0.06 cents to 101.32 cents U.S.
In Canada, tech issues rose with Research In Motion jumping 4% to $11.80.
Energy stocks moved up on the back of Legacy Oil and Gas, which sprang 7.5% to $7.57, and Canadian Natural Resources, which gained 2% to $30.53.
Base metals also prospered, led by Thompson Creek Metals Inc., which leaped 5.2% to $4.28.
Only telecoms seemed to dissent, with Rogers Communications falling 0.3% to $45.15.
On the economic front, Statistics Canada reported this morning that employment rose by 40,000 in December, the fourth increase in five months, all in full-time work. The unemployment rate declined 0.1 percentage points to 7.1%, the lowest in four years.
Elsewhere, the nation’s number crunchers said their Industrial Product Price Index was down 0.3% in November compared with October, due mostly to lower prices for petroleum and coal products. The Raw Materials Price Index fell 1.9%, on weaknesses for energy prices.
ON BAYSTREET
The TSX Venture Exchange reversed course and gained 2.05 points to 1,228.22
All but one of the 14 Toronto subgroups were positive on the day. Information technology stocks took on 1.2%, while energy stocks gained 1%, and global base metals surged 0.9%.
Only telecoms inched lower, by 0.02%.
ON WALLSTREET
Stocks edged higher Friday, at the end of a strong week for markets, as investors digested the government's latest jobs report, which showed hiring remained steady in December.
The Dow Jones Industrial Average tacked on 43.85 points to close Friday at 13,435.20
The S&P 500 gained 6.97 points to 1,486.34. The Nasdaq Composite edged forward 1.09 points to 3,101.66
The three major indexes are up about 4% for the week.
Economically speaking, before the market opened, the U.S. Labor Department reported that non-farm payrolls rose by 155,000 in December and the jobless rate stood at 7.8%.
Economists expected an increase of 160,000 jobs.
November’s unemployment rate, originally reported as 7.7%, was changed
In other positive economic news, the Institute of Supply Management's non-manufacturing index rose more than expected. Because it makes up the vast majority of the nation's economy, the service sector is a good barometer of where the economy is heading.
Meanwhile, factory orders were flat in November, following a 0.8% rise a month earlier.
Prices on the 10-year U.S. Treasury note lost yet more ground, boosting yields to 1.91% from Thursday’s 1.90% Treasury prices and yields move in opposite directions.
Oil prices inched higher by 14 cents to $93.05 U.S. a barrel.
Gold prices swooned $17.90 an ounce to $1,656.70 U.S.
