Canada's main stock index opened flat on Friday in thin trading volumes, while investors assessed gross domestic product data that reinforced expectations of the Bank of Canada implementing an interest-rate cut next month.
The TSX gained 48.39 points, to open the final day of the week and of November at 25,591.91
The Canadian dollar slid 0.16 cents to 71.23 cents U.S.
The composite index, which closed at a record high on Thursday due to gains for energy and industrial shares, is on track to log its fifth consecutive monthly rise.
On matters macroeconomic, Statistics Canada says September’s GDP edged up 0.1% as increases in services-producing industries were partially offset by declines in goods-producing industries.
ON BAYSTREET
The TSX Venture Exchange rallied 4.82 points to 612.51.
The 12 TSX subgroups were divided evenly between gainers and losers, as gold stepped forward 0.5%, while shares in information technology and materials each gained 0.4%.
The half-dozen laggards were weighed most by health-care, skidding 0.6%, while utilities ditched 0.4%, and real-estate fell 0.3%.
ON BAYSTREET
The TSX Venture Exchange added 4.82 points, to begin Friday at 612.51.
ON WALLSTREET
Stocks ticked higher on Friday at the start of a shortened trading day that will cap a strong month for equities.
The Dow Jones Industrials marched ahead once again, 117.45 points to 44,840.04
The S&P 500 Index recovered 21.51 points to 6,020.25.
The NASDAQ Composite recaptured 90.55 points to 19,151.02.
The Dow has added more than 1% week to date, bringing its gain for November above 7%. That’s the best month for the Dow since November 2023. The S&P 500 picked up 0.7% and NASDAQ Composite has advanced 0.4%, on the week. Both are slated to end 2024's penultimate month higher by more than 5%.
Applied Materials gained 2% and Lam Research rallied 3%, while Nvidia jumped more than 1%.
Prices for the 10-year Treasury jumped, lowering yields to 4.20% from Wednesday’s 4.25%. Treasury prices and yields move in opposite directions.
Oil prices gained 71 cents to $69.43 U.S. a barrel.
Prices for gold jumped $15.20 an ounce to $2,680 U.S.
