Markets throughout North America enjoyed a strong finish to the week and the month of April, Canadian indexes powered largely by energy and industrial concerns.
The TSX advanced 113.9 points to conclude Friday at 20,636.54. On the week, however, the index lost 56 points, or 0.27%.
The Canadian dollar jumped 0.28 cents to 73.80 cents U.S.
In the oilpatch, MEG Energy surged 98 cents, or 4.5%, to $22.58, while Tourmaline Oil jumped $2.58, or 4.4%, to $60.97.
Industrials also fared well, as GFL Environmental grabbed $3.50, or 7.7%, to $49.27, while TFI International popped $7.96, or 5.8%, to $146.06.
In the real-estate sector, FirstService leaped $3.74, or 1.9%, to $203.75, while Altus Group captured 88 cents, or 1.7%, to
Gold and materials did not have a good day, as Centerra Gold dipped 29 cents, or 3.1%, to $9.17, while Torex Gold dropped 61 cents, or 2.7%, to $22.20.
Ivanhoe Mines dumped 37 cents, or 3%, to $11.82, while SSR Mining lost 46 cents, or 2.3%, to $19.38.
In utilities, Hydro One dipped 28 cents to $39.68, while Emera Incorporated fell a dollar, or 1.7%, to $57.65.
On the economic slate, Statistics Canada reported Gross Domestic Product edged up 0.1% in February as both services-producing industries and goods-producing contributed to the increase.
ON BAYSTREET
The TSX Venture Exchange shot higher 7.1 points, or 1.2%, to 613.38, to within 0.82 points of the breakeven level for the week, down 0.13%.
Seven of the 12 TSX subgroups remained positive, led by energy, up 2.7%, while industrials and real-estate each bettered themselves 0.6%.
The five laggards were weighed most by gold, down 1.4%, materials, sliding 0.6%, and consumer discretionary stocks, listing lower 0.3%.
ON WALLSTREET
The Dow Jones Industrial Average rose on Friday as it moved closer to notching its best month since January.
The blue-chip index was stronger 272.79 points to close the session out at 34,098.95.
The S&P 500 prospered 34.23 points to 4,169.58.
The NASDAQ Composite climbed 84.35 points to 12,226.58.
With just Friday’s session left in the trading month, the Dow is on pace to finish April 2.2% higher. That would be its best monthly showing since January, when the average ended 2.8% up. The S&P 500 is poised for a 1.2% monthly gain, while the NASDAQ is on track to end the month down 0.3%.
On a weekly basis, the NASDAQ is slated for the largest gain, at 1%, in what has been considered Big Tech’s marquee earnings week. The Dow and S&P 500 are poised to gain 0.6% each.
Just over half of S&P 500 companies have reported earnings thus far. Of those companies, 80% have beaten expectations. That beat rate is roughly in line with a three-year average.
Amazon shares were down more than 3%. When reporting first-quarter results, the online retailer said its cloud business decelerated, though it did beat Wall Street’s expectations for revenue in the quarter.
Snap tumbled more than 18% following a revenue miss. Pinterest shares dropped nearly 16% after issuing disappointing second-quarter revenue growth expectations. First Solar dropped more than 9% after missing Wall Street expectations for the first quarter.
Not every tech stock was down following their respective releases. Intel shares climbed more than 4% after the semiconductor firm beat estimates on the top and bottom lines.
Also of note, shares of troubled First Republic Bank plunged more than 40% after media reports that the most likely outcome for the regional bank is the Federal Deposit Insurance Corporation taking receivership. The stock has lost more than 97% of its value since the start of the year.
Data released Friday morning showed personal consumption expenditures price index rose 0.3% in March, which was in line with economist expectations. The index is a key gauge of inflation for the Federal Reserve, which has a policy meeting scheduled for next week.
Prices for the 10-year Treasury gained ground, lowering yields to 3.43% from Thursday’s 3.52%. Treasury prices and yields move in opposite directions.
Oil prices popped $1.87 to $76.63 U.S. a barrel.
Gold prices ditched $1.10 to $1,997.90 U.S. an ounce.