Canada’s main stock index found its way upward by early Friday afternoon, even as losses in energy shares were offset by gains in heavyweight financial stocks, while the index was set for a weekly gain after a tech-fueled rally in the previous session.
The TSX Composite muscled higher 81.84 points to move into noon hour at 21,399.92.
The Canadian dollar subsided 0.11 cents to 74.06 cents U.S.
Technology stocks grew, powered by a surge in Docebo of $10.54, or 17.1%, to $72.16, after the software company’s fourth-quarter results beat analysts’ estimates.
Among other stocks, real estate intelligence service provider Altus Group climbed $3.79, or 8.2%, to $50.09, after upbeat quarterly profit.
ON BAYSTREET
The TSX Venture Exchange lost 3.89 points to 549.36.
Seven of the 12 subgroups were higher by noon hour EST, with gold gaining 1.4%, information technology better by 1.1%, and materials surging 0.8%.
The four laggards were weighed down by health-care, off 1.5%, energy, sliding 0.5%, and real-estate, lower 0.5%.
ON WALLSTREET
The S&P 500 stabilized Friday after hitting another record as investors looked to end the week on a high note.
The Dow Jones Industrials surged 105.54 points to 39,174.65.
The much-broader index acquired 5.46 points to 5,092.49.
The NASDAQ index lost 20.75 points to 16,020.87.
On the corporate earnings front, Block surged more than 17% after fourth-quarter revenue surpassed Wall Street estimates. Carvana climbed 35% after the used car retailer said it expects retail units to grow in 2024.
Wall Street is coming off a monster session as Nvidia shares roared higher on strong quarterly results, leading the chipmaker to surpass a $2-trillion valuation. The S&P 500 had best day since January 2023, while the NASDAQ Composite popped 3% for its best session since February 2023. The 30-stock Dow gained 1.2%.
All three major averages are on track for winning weeks. The S&P 500 is pacing for a 1.6% advance, while the tech-heavy Nasdaq has gained 1.3% so far this week. The Dow is up 1.5% for the period.
Prices for the 10-year Treasury gained ground, lowering yields to 4.30% from Thursday’s 4.33%. Treasury prices and yields move in opposite directions.
Oil prices slid $1.83 to $76.78 U.S. a barrel.
Gold prices hiked $6.60 to $2,037.30.
