Canada's ?main stock index tentatively clung to gains midday Friday as high bond yields and lower oil prices weighed on sentiment.
The TSX poked ahead 16.74 points to reach noon EDT Friday at 35,723.20. On the week so far, the index has slid 83.45 points, or 0.23%.
The Canadian dollar inched up 0.03 cents to 70.72 cents.
On the corporate front, National ?Bank of Canada plans to buy back 10 million shares for up to C$2.25 billion, starting October 9, 2026 and ending October 8, 2027. National shares improved $2.52, or 1.2%, to $211.92.
Air Canada said it plans to buy back 27.6 million shares for $800 million at $29 apiece. Shares in “the Maple Leaf airline” dropped $1.76, or 6.1%, to $27.20.
Traders see a 65% chance that the Bank of Canada will hike interest rates by at least 25 basis points during the October meeting to combat
inflation.
ON BAYSTREET
The TSX Venture Exchange edged higher 3.56 points to 917.47. On the week so far, the index has remained lower 5.6 points, or 0.6%.
Seven of the 12 subgroups were higher by noon hour, with consumer discretionary stocks stepping upward 1.3%, gold brighter by 0.7% and financials better by 0.6%.
The five laggards were weighed most by energy, sagging 1.1%, while telecoms sank 0.7% and information technology lost 0.3%.
ON WALLSTREET
U.S. equities rose on Friday as Wall Street gets set to wrap up a volatile week of trading, with a surge in Treasury yields rippling through financial markets.
The Dow Jones Industrials recovered 467.01 points to 51,816.99
The S&P 500 index moved higher 42.24 points to 7,746.37.
The NASDAQ Composite climbed 166.58 points to 26,932.56.
Shares of Akamai Technologies led technology higher, jumping 6% after announcing a multiyear deal with Anthropic.
With the day’s gains, the Dow is heading for a winning week, up 0.3%. The S&P 500 is on track for a 1% advance, while the NASDAQ is higher by 2% week to date.
Also helping sentiment, oil prices slid amid optimism that the Strait of Hormuz could be reopened, as Iran’s Foreign Minister Abbas Araghchi has proposed to do so as well as restart nuclear talks with the U.S. within seven days if Washington accepts its conditions.
Reuters reported Thursday that the U.S. and Iranian negotiators in New York are considering a phased agreement to end the Middle East conflict.
Meanwhile, traders were monitoring Chinese President Xi Jinping’s visit to the U.S. this week. U.S. Trade Representative Jamieson Greer told the media Friday that “a lot more details” on negotiations between the U.S. and China are going to be released Monday.
Prices for the 10-year Treasury regained lost ground, dropping yields to 5.18% from Thursday’s 5.19%. Treasury prices and yields move in
opposite directions.
Oil prices lost $2.54 to $92.07 U.S. a barrel.
Gold prices surged $31.60 to $4,329.70 U.S. an ounce.
