Canada’s main stock index advanced on Friday, with materials and real estate shares leading gains, setting the benchmark index up for its second straight weekly increase as it heads into the Christmas break.
The TSX Composite grabbed 141.99 points, to move into the last noon hour before Christmas at 20,907.72.
The Canadian dollar raced ahead 0.08 cents at 75.35 cents U.S.
Among individual stocks, logistics firm TFI International gained $9.72, or 6%, to $172.75, after it said it had agreed to acquire Daseke, in a deal valued at about $1.1 billion.
The Canadian markets will be shuttered on December 25-26 on account of Christmas and Boxing Day holidays.
On the economic calendar, Statistics Canada said real gross domestic product was essentially unchanged in October as services-producing industries edged up 0.1%, while goods-producing industries were essentially unchanged.
ON BAYSTREET
The TSX Venture Exchange garnered 4.43 points to 555.48.
All but one 12 subgroups gained midday, with health-care up 2.2%, gold hiking 1.6%, materials up 1.3%.
Only communications were negative, and only 0.1%.
ON WALLSTREET
The S&P 500 rose Friday after cooler inflation data, with stocks heading for an eighth-straight winning week as Wall Street looks to extend its year-end rally.
The Dow Jones Industrials gained 43.98 points to move into noon hour Friday at 37,448.53.
Dow component Nike dropped 10% after lowering its sales outlook, and announcing plans to cut costs by about $2 billion over the next three years.
The S&P 500 added 15.31 points to 4,762.06. At current levels, the broader index is 0.6% from its record close, and 1% from intraday record.
The S&P 500 advance was broad-based, with more than 440 names gaining in the benchmark. Utilities outperformed, with shares of Evergy and Dominion Energy up by more than 1.6%, each.
The NASDAQ gained 51.83 points to 15,051.70.
The Federal Reserve’s favorite inflation gauge came in less than expected. The November core personal consumption expenditures price index rose just 0.1% last month, and gained 3.2% from a year ago, about in line with expectations. Economists polled by Dow Jones were anticipating a rise of 0.1% month over month, and 3.3% year over year.
The three major averages are on pace for their eighth positive week in a row — a first for the S&P 500 since 2017 and for the Dow dating back to 2019. The S&P 500 is up 0.9% for the week, while the Dow has a gain of 0.4%. The NASDAQ is up more than 1% in the period.
The U.S. stock market will be closed on Monday for Christmas.
Prices for the 10-year Treasury slipped, raising yields to 3.91% from Thursday’s 3.89%. Treasury prices and yields move in opposite directions.
Oil prices falling five cents to $73.84 U.S. a barrel.
Gold prices jumped $14.80 at $2,066.10.