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TSX Points Higher to Wind up Rough Week
The TSX recovered 39.17 points to begin the week’s last session at 24,570.72.
The Canadian dollar doffed 0.04 cents to 72.18 cents U.S.
In corporate news, the West African country Mali accused Barrick Gold of failing to abide by commitments made in a recent agreement, though the Canadian miner denied the allegations. Barrick shares began Friday down 71 cents, or 2.5%, to $27.44.
On the economic chart today, Statistics Canada reported retail sales increased 0.4% to $66.6 billion in August. Sales were up in four of nine subsectors and were led by increases at motor vehicle and parts dealers.
Elsewhere, the national housing price index remained unchanged for the second consecutive month in September. Prices were unchanged in 12 of the 27 census metropolitan areas (CMAs) surveyed, up in eight CMAs, and down in the remaining seven.
ON BAYSTREET
The TSX Venture Exchange nicked higher 0.93 points to 622.
Eight of the 12 TSX subgroups gained ground early Friday, with energy rumbling 0.9%, while information technology strengthened 0.8% and health-care was better by 0.3%.
The four laggards were weighed most by gold, duller in price 1.4%, communications, listing lower 0.8%, and real-estate, off 0.1%.
ON WALLSTREET
Stocks rose Friday after the S&P 500 ended a three-day negative streak, while investors look to end a volatile week on a high note.
The Dow Jones Industrials fell 140.59 points to conclude Thursday at 42,374.36.
The broader index powered ahead 12.44 points to 5,809.86.
The NASDAQ jumped 138.83 points to 18,415.49.
These moves follow a mixed day on Wall Street. The NASDAQ joined the S&P 500 in finishing the session higher on Thursday, after both indexes were lifted by Tesla’s post-earnings rally. Shares of the electric vehicle manufacturer notched their best day in more than a decade as investors cheered the firm’s stronger-than-expected profit and CEO Elon Musk’s expectations for vehicle growth next year.
Both the S&P 500 and Dow were on track to snap a six-week winning streak. The former is down 0.4% week to date, while the latter has shed 1.7%. The NASDAQ, meanwhile, is on pace for its seventh weekly gain, advancing 0.3%.
Prices for the 10-year Treasury gained, pulling down yields to 4.21% from Wednesday’s 4.24%. Treasury prices and yields move in opposite directions.
Oil prices backtracked 22 cents to $70.55 U.S. a barrel.
Prices for gold jumped $19.10 an ounce to $2.748.50 U.S.
