Today in the markets
U.S. stocks were lower Friday ending the Dow’s 10-session run and stopping the S&P 500 just as it was nearing a record close.
Canadian stocks rallied as surging energy stocks and rising financial issues more than offset the weight of weaker consumer shares.
The S&P/TSX Composite gained 30.12 points to 12,830.03, while the TSX Venture Exchange was off 4.45 points to close at 1,117.15.
Active stocks included Bank of America Corp. (NYSE: BAC, Stock Forum), which rose 3.8% to $12.57 after the Federal Reserve gave the green light to its share-buyback plan.
J.P. Morgan Chase & Co. (NYSE: JPM, Stock Forum) fell 1.9% to $50 and Goldman Sachs Group Inc. (NYSE: GS, Stock Forum) turned 0.5% higher to $154.84 after the Federal Reserve approved their capital plans but also asked them to resubmit new ones in six months.
A senate hearing got underway Friday in which several past and present JP Morgan officials will testify regarding the bank’s financial exposure related to the “London Whale” trading losses.
In Canada, as energy stocks headed upwards, Crew Energy Inc. (TSX: T.CR, Stock Forum) jumped 7.5% to $7, while Imperial Oil Ltd. (TSX: T.IMO, Stock Forum) rose 2% to $43.19
For news about small stocks that made big moves in Friday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report