Canada’s main stock index opened higher on Friday, pulled up by materials shares tracking higher prices of metals, while investors assessed a mixed employment reading in Canada.
The TSX Composite followed the same upward paths as days passed, gaining 63.39 points to open Friday at 22,439.22. The index has progressed nearly 500 points, or 2.2%, on the week.
The Canadian dollar added 0.2 cents at 73.31 cents U.S.
Sun Life Financial on Thursday missed core profit estimates for the first time in 12 quarters, hurt by weakness in the U.S., a region where it has been expanding. Sun Life shares faltered $3.63, or 4.9%, to $69.80.
On the economic calendar, Statistics Canada says the economy created 90,000 jobs in April, and the unemployment rate was unchanged at 6.1%.
ON BAYSTREET
The TSX Venture Exchange nosed ahead 2.17 points to 598.12.
All but two of the 12 TSX subgroups were positive in the first hour, with health-care stocks haler by 1.3%, consumer staples up 0.9%, and materials better 0.7%.
The two laggards proved to be information technology, down 0.3%, while utilities hesitated 0.02%.
ON WALLSTREET
Stocks rose Friday, putting the the Dow Jones Industrial Average on track for another winning session.
The blue-chip index hurtled 144.43 points to 39,532.19, putting the 30-stock index on track for its seventh consecutive positive day for its longest winning streak of 2024.
The S&P 500 progressed 12.95 points to 5,227.03.
The NASDAQ rocketed 63.39 points to 16,366.79.
3M was the Dow’s best performer, as shares of the manufacturer rose about 1.5% on the back of an upgrade from HSBC.
The Dow enters Friday riding a seven-day winning streak, its longest since a nine-day run seen in December. The S&P 500 also advanced Thursday, closing above 5,200 for the first time since early April.
Stocks are on pace for a winning week. The Dow has gained 2.3%. The S&P 500 gained 2.1%, and the Nasdaq was higher by 1.6%.
Prices for the 10-year Treasury sagged, raising yields to 4.49% from Thursday’s 4.46%. Treasury prices and yields move in opposite directions.
Oil prices grew 37 cents to $79.63 U.S. a barrel.
Gold prices hiked $37.50 to $2,376.00.