Skip to main content

You can hardly call this a relief rally, but North American stocks edged higher on Friday morning after a U.S. report on job losses in August was slightly better than expected, removing a potential source of stress from the end-of-week trading.

The Dow Jones industrial average rose 25 points or 0.3 per cent, to 9370. The broader S&P 500 rose 4 points or 0.4 per cent, to 1007.

Financials were relatively strong, with Bank of America Corp. up 1.8 per cent and JPMorgan Chase & Co. up 0.7 per cent.

Story continues below advertisement

Investors turned their noses up at junk food though. Coca-Cola Co. fell 0.8 per cent and McDonald's Corp. fell 0.2 per cent.

In Canada, the S&P/TSX composite index rose 30 points or 0.3 per cent, to 10,951.

Gold, which had been propelling stocks in the materials subindex for the past two days, took a breather before it topped $1,000 (U.S.) an ounce. It traded at $992 an ounce, down nearly $6 - driving down gold producers. Barrick Gold Corp. fell 1.7 per cent and Goldcorp Inc. fell 1.2 per cent.

Energy stocks were mixed after the price of crude oil fell to $67.71 a barrel, down 25 cents. Suncor Energy Inc. rose 1.2 per cent but EnCana Corp. fell 0.6 per cent.

Financials were strong, with Sun Life Financial Inc. rose 2 per cent, Manulife Financial Corp. rose 1 per cent and Toronto-Dominion Bank rose 1.1 per cent.

Report an error
About the Author
Investing Reporter

David Berman has been writing about business and investing since 1995. He has written for a number of magazines, including Canadian Business and MoneySense. He worked at the Financial Post as an investing writer and daily columnist before moving to the Globe and Mail in 2008. More

Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.