Equities in Toronto rose on Friday and were on course to end the holiday-shortened week on a positive note, while investors awaited more data for insights on the health of the economy.
The TSX remained buoyant 121.28 points to reach Friday afternoon at 25,019.31.
The Canadian dollar shed 0.27 cents to 69.15 cents U.S.
By midday, communications led the pack, powered mostly by shares of BCE, surging 49 cents, or 1.5%, to $34.01, while Quebecor gained 45 cents, or 1.4%, to $32.00.
In real-estate, FirstService hiked $3.19, or 1.2%, to $260.93, while units of Northwest Healthcare Properties REIT tacked on seven cents, or 1.6%, to $4.53.
Consumer staples surged, too, as Metro leaped $1.39, or 1.5%, to $91.56, while George Weston advanced $2.92, or 1.3%, to $226.69.
Among other stocks, Algoma Steel slipped 88 cents, or 6.53%, to $13.10, after its quarterly outlook.
ON BAYSTREET
The TSX Venture Exchange acquired 1.81 points to 619.16.
All but two of the 12 TSX subgroups gained ground, with communications ahead 1.4%, real-estate, stronger 0.9%, and consumer staples, improving 0.7%.
The two laggards were gold, sliding 0.2%, and materials, weaker by 0.1%.
ON WALLSTREET
U.S. stocks moved higher on Friday as Wall Street tried to shake off a volatile start to the new year.
The Dow Jones Industrials barreled ahead 245.85 points to 42,638.12.
The S&P 500 popped 60.61 points, or 1%, to 5,929.16.
The NASDAQ Composite gained 274,88, or 1.4%, to 19,555.67.
Tech stocks were a bright spot for the market on Friday. Chip giant Nvidia climbed more than 3%, while cyber defense name CrowdStrike
added 2.6%. Homebuilder PulteGroup also rose more than 2% to lead the consumer discretionary group.
Stocks are on pace to close out the week with losses even with Friday’s gains. The 30-stock Dow and the S&P 500 are lower by around 0.7% each. The NASDAQ Composite has dropped 0.9%.
On the economic data front, the ISM Manufacturing Index came in at 49.3 for December. That is above expectations of 48.0, according to Dow Jones, but is still below the level of 50 that signifies expansion in the sector.
Prices for the 10-year Treasury faded, raising yields to 4.58% from Thursday’s 4.56 %. Treasury prices and yields move in opposite directions.
Oil prices hiked 85 cents to $73.98 U.S. a barrel.
Prices for gold declined $14.50 an ounce to $2,654.50 U.S.
