Stockchase After the Close Friday saw the release of the latest U.S. jobs numbers. The Goldilocks report stated that job hiring moderated, annual wage growth fell below 4%, employment gains topped Wall Street’s estimate, while unemployment fell from 3.7% to 3.9% (the street expected no change) The data injected optimism into the market on both sides of the border. The S&P closed the session up 0.41% to reach a new 2023 high of 4,604. The Nasdaq added 0.45% and the Dow 0.36%. For the week, though, the S&P was essentially flat while the Nasdaq gained 0.7% and the Dow 0.44%.
Key movers Friday were streamers Paramount Global which soared 12.11% and Warner Brothers Discovery which popped 6.01%. Elsewhere, Dollar General finished -3.84% and Alphabet -1.31% after being caught for faking its new Gemini AI demo. Canadian apparel name, Lululemon rallied 5.37% in New York. Despite the bullish sentiment, the U.S. 10-year yield inched up 4.231% and Bitcoin jumped 3.25% to $44,700 to resume its winning streak.
The picture was more mixed in Toronto as the TSX rose 0.26% Friday but shed twice a much for the week. Sectors were mixed as energy, financials and tech outperformed while telcos, discretionary and industrials lagged. CNQ was among the busiest stocks as it climbed 1.84%, Hudbay Minerals popped 6.07%, Equinox Gold closed -3.51%, Stella-Jones -3.94%, and Nuvei rallied 5.48%. WTI rebounded 2.7% to trade well above $71.