North American stocks were mixed soon after the start of trading on Friday, with major U.S. indexes moving higher but Canada’s benchmark index weighed down by some disappointing earnings.
The Dow Jones industrial average rose 34 points or 0.3 per cent, to 12,938. The broader S&P 500 rose 3 points or 0.2 per cent, to 1,361. In Canada, the S&P/TSX composite index fell 28 points or 0.2 per cent, to 12,457.
The U.S. gains were led by the likes of Merck & Co. Inc., which rose 1.7 per cent, and General Electric Co.’s 1.5 per cent gain. Financials were mixed though, with JPMorgan Chase & Co. up 1.3 per cent but Bank of America Co. down 0.6 per cent.
Among Canadian stocks, Fairfax Financial Holdings Ltd. fell 5.5 per cent after it reported a loss in its most recent quarter. Enbridge Inc. fell 3.1 per cent after its adjusted quarterly earnings disappointed analysts’ expectations.
Meanwhile Teck Resources Ltd. fell 1.9 per cent and Research In Motion Ltd. fell 1.8 per cent.
