Canada’s main stock index rose on Friday, as government bond yields eased around the world, but focus is likely to shift to policy changes from U.S. President-elect Donald Trump when he takes office next week.
The TSX gained 221.41 points by noon EST to 25,067.61, for a gain of 300 points, or 1.12%, on the week so far.
The Canadian dollar dropped 0.11 cents at 69.36 cents U.S.
In company news, TD Bank Group said CEO-designate Raymond Chun would be appointed to the role on Feb. 1, months earlier than initially planned. Its shares were up $3.26, or 4.1%, to $82.86,
On the economic front, Statistics Canada reported Canadian investors increased their exposure to foreign securities by $17.8 billion in November, the highest investment since March 2024. Meanwhile, foreign investors acquired $16.4 billion of Canadian securities, led by an unprecedented investment in money market instruments.
ON BAYSTREET
The TSX Venture Exchange leaped 5.64 points, or 1%, to 614.28. The index is ahead of last week’s close by nearly six points, or nearly 1%.
All 12 TSX subgroups were higher by noon, led by gold and materials, each up 1.2%, and utilities, ahead 1.1%.
ON WALLSTREET
Stocks climbed Friday, as Wall Street looks complete its first weekly gain of the new year.
The Dow Jones Industrials bounced 450.10 points, or 1%, to 43,603.23
The S&P 500 took on 70.45 points, or 1.2%, to 6,007.79
The NASDAQ Composite hiked 312.82 points, or 1.6%, to 19,651.11.
Big tech stocks were also higher on the day, with shares of Tesla popping 4.6%. Chipmaking giant Nvidia jumped 3.2%, while Alphabet shares added more than 1% each.
Strong earnings from major banks also boosted stocks this week, as they tried to shake off December doldrums that carried over into the start of 2025. Shares of Goldman Sachs and Citigroup are up more than 10% each on the week, while JPMorgan Chase spiked 6% and Goldman
Sachs has popped 8.5%.
For the week, the Dow is up 3.9%, and S&P 500 progressed 3%, That puts them on pace for their biggest weekly advance since the week of the U.S. presidential election in November. The NASDAQ Composite, up 2.5% week to date, is headed for its best one-week performance since early December.
Those gains come after investors received back-to-back reports showing inflationary pressures softening somewhat. The core consumer price index rose less than expected year on year, and the producer price index also had a smaller-than-anticipated increase for December.
Prices for the 10-year Treasury sagged, raising yields to Thursday’s 4.62%. Treasury prices and yields move in opposite directions.
Oil prices declined 30 cents to $78.38 U.S. a barrel.
Prices for gold regrouped six dollars an ounce to $2,756,90 U.S.
