Canada’s main stock index hit a record high on Friday, before falling into the red by market close. The TSX reached 22,470.27 points and finished the week higher, tracking a rally in prices for metals while losses were felt in the tech sector.
The blue-chip Dow Jones scored an eighth consecutive day higher, soon to rival its nine-day win streak in December. However once again, the NASDAQ and S&P 500 saw little movement. Thanks to a stronger earnings season and soft labour data, investors remain optimistic that the Federal Reserve could raise interest rates next month, indicating a cap on rates that could be bullish for equities.
The Canadian dollar traded for 73.15 cents compared with 73.11 cents U.S. on Thursday.
U.S. crude futures traded $0.88 lower at $78.38 a barrel, and the Brent contract lost $0.98 to $82.90 a barrel.
The price of gold was up US$17.67 to US$2,368.85.
In world markets, the Nikkei was up 155.13 points to 38,229.11, the Hang Seng was up 425.87 points to 18,963.68, the FTSE was up 52.41 points to 8,433.76, and the DAX was up 86.25 points to 18,772.85.
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