North American stocks were mixed at the start of trading on Friday, despite earlier signs that a stocks would surge following a stronger-than-expected U.S. payrolls report for September.
The Dow Jones industrial average rose 45 points or 4 per cent, to 11,169. The broader S&P 500 fell 1 point or less than 0.1 per cent, to 1164. In Canada, the S&P/TSX composite index fell 66 points or 0.6 per cent, to 11,714.
Some economically sensitive stocks showed strong moves, suggesting that investors were growing more comfortable with the economic backdrop to the market, just days after the S&P 500 slipped into bear market territory over concerns about an oncoming recession and an uncontrolled European debt crisis. Home Depot Inc. rose 1.5 per cent, Best Buy Co. Inc. rose 3.5 per cent and Alcoa Inc. rose 1.4 per cent.
However, U.S. financials were weak, with Bank of America Corp. down 2.6 per cent and JPMorgan Chase & Co. down 1.6 per cent.
In Canada, the declines were spread among key financials, commodity producer and technology stocks. Research In Motion Ltd. fell 2.7 per cent, Suncor Energy Inc. fell 0.2 per cent, Barrick Gold Corp. fell 0.9 per cent and Royal Bank of Canada fell 0.4 per cent.Report Typo/Error
- Dow Jones Industrials21,394.760.00(0.00%)
- S&P 500 INDEX2,438.300.00(0.00%)
- S&P/TSX Composite15,319.560.00(0.00%)
- Home Depot Inc$151.310.00(0.00%)
- Best Buy Co Inc$55.180.00(0.00%)
- Bank of America Corp$22.820.00(0.00%)
- JPMorgan Chase & Co$86.860.00(0.00%)
- Suncor Energy Inc$38.520.00(0.00%)
- Barrick Gold Corp$21.860.00(0.00%)
- Royal Bank of Canada$94.120.00(0.00%)
- Updated June 23 4:00 PM EDT. Delayed by at least 15 minutes.