TSX Gains on Trade Hope

Jobs Numbers Brighten

Stocks in Canada’s largest centre showed positive results in Friday’s first hour of trade, as relief continued to register over a possible trade deal between the U.S. and China, however flawed.

The TSX Composite Index opened the last session before a long weekend with gains of 35.15 points to 16,457.83

The Canadian dollar popped 0.54 cents to 75.78 cents U.S.

Markets in Canada are closed Monday for Thanksgiving.

Jefferies cut the target price on Aurora Cannabis to $7.00 from $14.00. Aurora picked up 12 cents, or 2.4%, to $5.08.

National Bank of Canada raised the target price on BRP Inc, to $58.00 from $51.00. BRP shares acquired 78 cents, or 1.5%, to $52.11.

Jefferies raised the rating on Hexo Corp. to hold from underperform. Hexo shares dipped seven cents, or 1.9%, to $3.69.

On the economic front, Statistics Canada said the economy created 54,000 jobs in September, most of them full-time, bringing the unemployment rate down 0.2 percentage points to 5.5%.

ON BAYSTREET

The TSX Venture Exchange eked up 0.04 points to 542.64

Seven of the 12 Toronto subgroups were lower, with gold sinking 2.3%, materials off 1%, and utilities, off 0.9%

The five gainers were led by energy, ahead 1.4%, health-care, up 0.7%, and financials, richer by 0.6%.

ON WALLSTREET

Stocks rallied on Friday as traders grew more optimistic over the possibility of a limited trade deal between China and the U.S.

The Dow Jones Industrials hurtled skyward 364.35 points, or 1.4%, to 26,861.02

The S&P 500 improved 42.82 points, or 1.5%, to 2,980.62. The gains put the Dow and S&P 500 on track to snap a three-week losing streak.

The NASDAQ Composite leaped 129.93 points, or 1.6%, to 8,080.72

Big tech shares such as Facebook, Amazon, Netflix and Google-parent Alphabet all gained more than 1%. Bank stocks also gained steam as Bank of America and J.P. Morgan Chase rose more than 1.5% each. Apple jumped 1.6% and hit an all-time high.

Chipmakers rose broadly. Micron Technology gained more than 2% along with Xilinx.

On the data front, the University of Michigan’s consumer sentiment index came in at 96 for October, topping a Dow Jones estimate of 92.

President Donald Trump told reporters on Thursday that talks between the two countries were going “really well.” His comments came after he tweeted that he would meet with Chinese Vice Premier Liu He at the White House on Friday. The meeting is scheduled to take place at 2:45 p.m. ET.

Prices for the benchmark 10-year U.S. Treasury lost much ground, raising yields to 1.74% from Thursday’s 1.67%. Treasury prices and yields move in opposite directions.

Oil prices gained 47 cents to $54.02 U.S. a barrel.

Gold prices dropped $14.60 to $1,486.30 U.S. an ounce.