Equities in Canada’s largest centre made their way mildly higher on Friday after stronger-than-expected U.S. jobs data prompted investors to increase bets on an interest-rate hike by the Federal Reserve this month.
The TSX moved up 21.03 points to break for lunch to 36,654.15
The Canadian dollar dipped 0.27 cents to 72.25 cents.
On the week so far, the TSX has lost 9.77 points, or 0.36%
Discovery Mining skidded 23 cents, or 1.7%, to $13.10, and SSR Mining lost 83 cents, or 1.6%, to $52.77, while Barrick Mining was down 58 cents to $62.38.
Meanwhile, vehicle maker BRP gained $4.99, or 5.7%, to $93.22, after National Bank of Canada upgraded the stock to "outperform" from "sector perform".
Prime Minister Mark Carney said on Thursday that his government was ready to sign a trade deal with U.S. that benefits both countries.
On the economic slate, the economy lost 42,000 (-0.2%) in August and the unemployment rate was unchanged at 6.4%.
The IVEY seasonally-adjusted PMI index increased to 64.3 in August from 55.1 in July, highest since May 2022.
ON BAYSTREET
The TSX Venture Exchange flopped 11.94 points, or 1.2%, to 960.06. On the week, the index has chucked 30.4 points, or 3.07%.
Seven of the 12 TSX subgroups were higher, led by consumer discretionary stocks, up 1.7%. industrials, up 0.9%, utilities, ahead 0.7%.
The five laggards were weighed most by gold, down 0.8%, while energy sank 0.7%, and materials ditched 0.6%
ON WALLSTREET
The Dow Jones Industrial Average fell on Friday as August’s hotter-than-expected payrolls reading increased expectations that the Federal Reserve could raise interest rates at its next meeting.
The 30-stock index let go of 302.51 points to adjourn for lunch hour Friday at 53,409.37
The S&P 500 sank 33.48 points to 7,714.23.
The NASDAQ Composite retreated 115.49 points to 26,468.57.
However, the Dow is still heading for a drop of 0.2% this week. The S&P 500 is on track for a 0.3% advance in the period, while the NASDAQ is on pace for a 0.7% gain.
Non-farm payrolls grew 162,000 last month, much more than the 53,000 that economists polled by Dow Jones expected.
The unemployment rate held steady at 4.1%, as expected. On top of last month’s gain, figures for both June and July saw upward revisions.
Prices for the 10-year Treasury were static, keeping yields at Thursday’s 4.77%.
Oil prices let go of 49 cents to $90.81 U.S. a barrel.
Gold prices slipped $50.40 to $4,489.40 U.S. an ounce.
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