Canada's main stock index edged higher on Friday, lifted ?by gains ?in technology and consumer discretionary ?shares, ?while investors assessed fresh ?U.S. ?earnings and ?monitored ?developments ?in the Middle ?East.
The TSX recovered 108.47 points to conclude Thursday at 35,301.13.
The Canadian dollar edged down 0.03 cents to 70.97 cents U.S.
Oil prices slipped, but were still on track for weekly gains over concerns about disrupted energy flows in the Red Sea and fears of further escalation in the U.S.-Israeli war on Iran.
Earlier in the week, Trump had imposed a 50% tariff on a range of Canadian imports. However, the U.S. is aiming for interim trade deals with Canada and Mexico by the end of 2026.
Elsewhere in the macroeconomic world, Statistics Canada’s Industrial Product Price Index declined 1.4% month over month in June and gained 12.4% year over year. The Raw Materials Price Index decreased 6.9% month over month in June and increased 20.7% year over year during the same month.
Its new housing price index sank 0.1% in June, compared to a 0.3% loss in May.
ON BAYSTREET
The TSX Venture Exchange dropped 3.2 points Friday to 870.89.
All but three of the 12 TSX subgroups were positive, with real-estate hiked 0.9%, while financials and consumer discretionary stocks jumped 0.5%.
The three laggards were information technology, sinking 0.4%, while consumer staples dipped 0.04%, and industrials slipped 0.03%.
ON WALLSTREET
The NASDAQ Composite fell on Friday, bogged down by chip stocks, as the index headed for a losing week.
The Dow Jones Industrials moved higher 78.47 points to 51,790.12.
The S&P 500 eked higher 2.51 points to 7,410.81
The NASDAQ Composite continued its negative trend, losing 148.32 points to 24,976.58.
The NASDAQ is now on pace for a weekly loss, declining 2% in the period. The Dow and S&P 500 are also tracking for a losing week, as both have each shed less than 1% week to date.
Intel shares fell 4%, reversing course from earlier gains after the chipmaker’s second-quarter results exceeded Wall Street’s expectations.
Other chipmakers slid alongside it, with Broadcom and Advanced Micro Devices each down 2%.
U.S. President Donald Trump said he will soon make a decision on whether to launch a “massive attack” on Iran after the conflict in the Middle East extended to a new battleground in the Red Sea. Speaking to Axios on Thursday, the president said the proposed strikes would be bigger than anything seen in the war so far, and that Iran has not “received enough pain yet.”
Prices for the 10-year Treasury gained ground, lowering yields to 4.67% from Thursday’s 4.7%. Treasury prices and yields move in opposite directions.
Oil prices dipped $2.50 to $89.69 U.S. a barrel.
Gold prices gained $14.50 to $4,064.70 U.S. an ounce.
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