The Toronto stock market edged higher Friday as investors took in the latest numbers on Canadian inflation.
The S&P/TSX composite index was up 5.81 points to 14,708.10.
Canada's annual inflation rate rose to the central bank's 2 percent target in April for the first time in two years, Statistics Canada said on Friday, further dampening talk of a cut in interest rates.
The jump from 1.5 percent in March was exactly as expected, as was the 0.3 percent monthly rise in prices from March.
ON BAYSTREET
The TSX Venture Exchange was up 9.18 points to 987.95.
Ten of the 14 Toronto subgroups closed positive, with metals and mining strengthening 0.7%, Health-care up by 0.5%, and tech was ahead 0.44%.
On the downside -- Gold stocks were off 0.82%, material issues dipped 0.29%. and consumer staple issues were down 0.23%.
Gold for June delivery pulled back by $3.30, or 0.3%, to settle at $1,291.70 an ounce, for a modest decline of 0.1% on the week.
ON WALLSTREET
Investors ended the week on a high note after three straight days of advances, sending the S&P 500 above the 1,900 level. The benchmark closed 8.04 points, or 0.4%, higher at 1,900.53, a record level, and gained 1.2% over the week.
The Dow Jones Industrial Average gained 63.19 points, or 0.4%, to 16,606.27 and finished the week 0.7% higher. The blue-chip index turned positive for the year.
The Nasdaq Composite ended the day up 31.47 points, or 0.8%, at 4,185.81, notching a 2.3% gain over the past five days.
The Russell 2000 index of small stocks gained 12 points, or 1.1% to 1,126.18. The small-cap index gained 2.1% over the week and moved above its 200-day moving average.
Sales of new single-family homes rose 6.4% to a seasonally adjusted annual rate of 433,000 last month, led by the South and Midwest, the government reported Friday. Economists polled had expected an April sales pace of 429,000, compared with an originally estimated rate of 384,000 in March.
In corporate news -- Hewlett-Packard shares rebounded with a 6% pop on Friday. The tech giant fell Thursday in late trading. In an apparent error, the firm released its earnings report before the closing bell, which included plans to cut 11,000 to 16,000 jobs on top of the previously announced 34,000 job cuts.
Apple finished the week at $614 a share, a 52-week high point for the company. Apple's Worldwide Developers Conference takes places June 2 to 6, which often bring the unveiling of new products. The stock is also set to split in early June with trading of the lower priced shares to begin on Monday, June 9.
July crude rose 61 cents, or 0.6%, for the session to settle at $104.35 a barrel on the New York Mercantile Exchange, the highest close for a most-active contract since April 21.
