TSX Resumes Climb

Stocks in Canada’s biggest centre were back in the green after two straight days of losses tracking U.S. peers, while investors looked past a surprise jump in producer prices in October.

The TSX Composite regained 103 points to pause for lunch Friday at 19,987.58.

The Canadian dollar shook off 0.3 cents to 74.76 cents U.S.

Consumer discretionary stocks led the pack, with Canada Goose soaring 54 cents a share, or 2.3%, to $24.35, while Magna International grabbed $1.45, or 1.8%, to $83.55.

Communications were next, with Corus Entertainment flourishing seven cents, or 3.2%, to $2.26, while Rogers hiked $1.23, or 2.1%, to $59.83.

Energy tilted the balance lower, with Topaz Energy trailing 63 cents, or 2.6%, to $23.68, while Suncor Energy lost $1.16, or 2.4%, to $47.18.

It’s a full macroeconomic day, as Statistics Canada said its raw materials price index increased 1.3% on a monthly basis in October, and posted a 9.0% year-over-year increase, while its industrial product price index rose 2.4% on a monthly basis in October, and increased 10.1% year over year

What’s more, the agency said non-resident investors reduced their exposure to Canadian securities by $22.3 billion in September, mainly in the form of federal government debt securities and Canadian shares. Meanwhile, Canadian investors acquired $9.6 billion of foreign securities, led by an unprecedented investment in foreign bonds.

ON BAYSTREET

The TSX Venture Exchange swooned 5.85 points, or 1%, to 576.72.

Seven of the 12 TSX subgroups gained ground, led by consumer discretionary stocks, up 1.2%, while communications marched 1.1%, and industrial stocks strengthened 0.9%.

The five laggards were weighed most by energy, down 0.9%, health-care, sliding 0.6%, and information technology, off 0.2%.

ON WALLSTREET

The Dow Jones Industrial Average rose Friday as investors pored over the latest earnings reports and tried to shake off tougher language from Federal Reserve speakers.

The 30-stock index jumped 163.73 points to 33,710.05

The S&P 500 regained 8.71 points to 3,955.27

The NASDAQ sank into the red, however, 23.81 points to 11,121.15.

All of the major averages are on pace for down weeks — the Dow is down 0.2% for the week, while the S&P is off 0.9% and NASDAQ is lower by 1.7%. All three indexes are positive for the month, however.

Ross Stores and Palo Alto Networks popped on Friday after the two companies posted their latest quarterly results. Investors also appeared to cheer Gap’s most recent results.

Economically speaking, the Conference Board said its Leading Economic Index fell 0.8% in October, bringing its cumulative six-month decline to 3.2%, after rising 0.5% in the previous half-year.

Prices for the 10-year Treasury fell slightly, raising yields to 3.81% from Thursday’s 3.77%. Treasury prices and yields move in opposite directions.

Oil prices flopped $2.46 to $79.18 U.S. a barrel.

Gold prices doffed $4.30 to $1,748.70 U.S. an ounce.

Related posts

Carl Icahn Increases His Stake In Take-Two Interactive To 10.68%

ValueWalk

iPad Mini Display Outperformed By Kindle Fire HD & Nexus 7

ValueWalk

Foxconn Might Open Manufacturing Plants In The U.S. [REPORT]

ValueWalk

Peter Cundill Protégé Tim McElvaine on Investing in Japan [VIDEO]

ValueWalk

Set Bing Home Page Image As Lock Screen In Windows 8

ValueWalk

Morning Market News: JCP, APO, MCHP, ZIP, ENR, LGF, EA, ATVI, COV, LNT

ValueWalk