The S&P/TSX composite index inched up 2.9 points to open Friday at 14,472.85, following Thursday’s plunge of 284 points.
The Canadian dollar moved down 0.50 cents to 87.35 cents U.S.
Shares of Scotiabank dipped $1.21 to $66.37, on fourth-earnings earnings in what is shaping up to be a disappointing season for Canadian lenders.
Shares of Enbridge dipped 60 cents, or 1%, to $59.44, following Thursday’s record high.
Macquarie raised the rating on Air Canada to outperform from neutral and price target to $15 from $9.50. The carrier gained 3.6% to $12.50.
CIBC cut the price target on Canadian Natural Resources to $50 from $52. Natural Resources shares lost 47 cents, or 1.3%, to $36.74.
On the economic front, Statistics Canada reported this morning that Canada's economy lost more than 10,000 jobs last month and the unemployment rate inched up to 6.6%
Moreover, the agency reported that our merchandise imports increased 0.5% to $44.8 billion in October. Exports edged up 0.1% to $44.9 billion. As a result, Canada's trade surplus with the world narrowed from $307 million in September to $99 million in October.
ON BAYSTREET
The TSX Venture Exchange gave back 2.37 points to 705.01
Nine of the 14 Toronto subgroups were lower in the early going, with gold down 2.2%, utilities down 0.8%, and energy, sliding 0.7%.
The five gainers were led by information technology, up 1.7%, consumer discretionaries, up 1.3%, and industrials, better by 0.8%.
ON WALLSTREET
U.S. stocks rose on Friday, lifting the Dow to another record, as investors considered the implications of a stronger-than-expected November payrolls report on the timing of interest-rate hikes ahead by the Federal Reserve.
The Dow Jones Industrials recovered 53.01 points to open the week’s final session at 17,953.11.
The S&P 500 pulled ahead 3.42 points to 2,075.34. The NASDAQ index added 8.09 points to 4,777.53
Stock-index futures reversed direction several times in the wake of the data, and benchmark Treasury yields shot higher, after the monthly jobs report had the economy adding 321,000 jobs in November, exceeding expectations.
The unemployment rate remained unchanged at 5.8%, with non-farm payrolls posting their tenth consecutive month above a 200,000 reading.
Another report Friday had orders for U.S. factory goods falling 0.7% in October.
Prices for 10-year U.S. Treasuries weakened, raising yields to 2.30% from Thursday’s 2.26%. Treasury prices and yields move in opposite directions.
Oil prices dipped 99 cents to $65.82 U.S.
Gold prices fell $13.70 at $1,194.00 U.S.
