Stocks in Toronto wrapped up a positive week with a Friday session which ebbed and flowed, and finished slightly negative, as consumer and real-estate stocks proved an anchor.
The S&P/TSX Composite Index gave up earlier gains and dropped 5.63 points to close Friday and the week at 15,474.20. The index was higher 217.63 points, or 1.43%, over the last five trading days.
The Canadian dollar decreased 0.08 cents at 73.47 cents U.S.
Golds led the parade, as Alamos Gold triumphed 84 cents, or 8.4%, to $10.95, while Centerra Gold jumped $1.23, or 9.2%, to $14.59.
Elsewhere, Pretium Resources traveled 84 cents, or 7.9%, higher to $9.30, while First Quantum Minerals took on 44 cents, or 5%, to $9.30.
In consumer staples, Maple Leaf Foods powered ahead $1.82, or 6.3%, to $30.72, while Primo Water gathered 50 cents, or 2.7%, to $19.13.
Real-estate issues sank a bit, with Dream Officer REIT units docking 68 cents, or 3.4%, to $19.26, while Smart Centres REIT lost 62 cents, or 2.9%, to $20.91.
Among consumer discretionary concerns, Gildan Activewear was off $1.04, or 4.9%, to $20.41, while Real Matters ditched 97 cents, or 4%, to $23.51.
Health-care stocks also paled as HEXO doffed three cents, or 2.9%, to $1.02, while Sienna Senior Living fell 24 cents, or 2.4%, to $9.62.
On the economic blotter, Statistics Canada reported retail sales were down by 26.4% in April to $34.7 billion. Motor vehicle and parts dealers took the largest hit, while online sales surged to a record high, representing 9.5% of the total retail market in April.
ON BAYSTREET
The TSX Venture Exchange heightened 8.93 points, or 1.6%, to 567.20, an improvement on the week of 12.29 points, or 2.22%.
The 12 subgroups were evenly divided between gainers and losers, with gold brightening 3.9%, materials stronger by 3%, and consumer staples up 1.8%.
The half-dozen laggards, meanwhile, were weighed most by consumer discretionary and real-estate stocks, each down 1.1%, while health-care stocks surrendered 0.9%.
ON WALLSTREET
Stocks finished Friday lower, after swinging wildly throughout the session due to technical factors. A number of headlines also raised concern about a resurgence in the coronavirus and a slowdown in the economy’s recovery.
The Dow Jones Industrials headed downward in the final hour and relinquished 208.64 points, to end the week at 25,871.46.
The S&P 500 went south 17.6 points to 3,097.74.
The NASDAQ inched forward 3.07 points to 9,946.12, for its sixth consecutive gain.
All three major averages posted modest weekly gains. The S&P 500 gained 1.8% on the week, its fourth positive week in five. The 30-stock Dow rose 1% this week, while the tech-heavy NASDAQ outperformed, rising 3.7% this week.
A slew of negative news surrounding the pandemic knocked stocks to their session lows earlier in the day.
Apple said it’s re-closing a total of 11 stores in Florida, Arizona, South Carolina and North Carolina. All of the stores had been re-opened since Apple initially closed them in March amid the outbreak. Shares of the tech giant traded 0.5% lower.
Shares of cruise line operators took a leg down after the Cruise Lines International Association announced suspension of cruise operations from U.S. ports, citing the ongoing situation with the pandemic. Norwegian Cruise Line and Carnival dropped more than 5% each, while Royal Caribbean fell 6.8%.
Arizona and Florida reported record spikes in confirmed COVID-19 cases on Friday as states continue their phased reopenings and ramping up testing. Meanwhile, California on Thursday reported more than 4,000 new cases in a single day, the highest daily number ever.
Stocks benefiting from the economy reopening were also under pressure following Apple’s announcement. Nordstrom dropped 6.3%, while Kohl’s fell 4.7%. United Airlines slid 6.3% and Delta dropped 4.1%.
Stocks started the day with strong gains after a report by Bloomberg News said that China was set to up its purchases of U.S. farm products to comply with the phase-one trade deal. The report eased concerns about U.S.-China trade relations as the two countries exchange heated rhetoric regarding the coronavirus.
Prices for the 10-Year Treasury moved up, reducing yields to 0.69% from Thursday’s 0.71%. Treasury prices and yields move in opposite directions.
Oil prices acquired 69 cents to $39.53 U.S. a barrel.
Gold prices jumped $24.10 to $1,755.20 U.S. an ounce.