Stocks ended higher on Friday after U.S. indexes reopened for an abbreviated trading session following the Thanksgiving holiday.
The S&P 500 closed at 1409.15, up 18.12 points or 1.3 per cent -- driving the benchmark index to its fifth consecutive gain. The blue-chip Dow Jones industrial average closed at 13,009.68, up 172.79 points or 1.3 per cent. In Canada, the S&P/TSX composite index closed at 12,213.24, up 60.14 points or 0.5 per cent -- marking its sixth straight gain.
The gains continue a winning streak for stocks, following a selloff that began in September that had threatened to take the S&P 500 into correction territory. While there was no U.S. economic news driving the latest round of gains, there was mixed news in Europe: Leaders there failed to reach an agreement on a seven-year budget due to different opinions on spending cuts.
However, a reading on German business confidence from the Ifo institute topped expectations. Among European indexes, Germany's DAX index rose 0.9 per cent and the U.K.'s FTSE 100 rose 0.5 per cent.
Key commodities showed gains. Gold rose to $1,751.40 (U.S.) an ounce, up $23.20. Crude oil rose to $88.28 a barrel, up 90 cents. Among Canadian commodity producers, Suncor Energy Inc. rose 0.4 per cent and Barrick Gold Corp. rose 1.3 per cent.
Research In Motion Ltd. -- which surged more than 17 per cent on Thursday following an analyst upgrade and upbeat buzz on the company's upcoming platform, BlackBerry 10 -- fell 3.3 per cent in Toronto.
In the U.S., tech stocks saw some of the biggest gains. Hewlett-Packard Co. rose 4.2 per cent, Microsoft Corp. rose 2.8 per cent and Cisco Systems rose 2 per cent.