Skip to main content

The Globe and Mail

At the open: Dow shows modest gains, but TSX slips

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.

Story continues below advertisement

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 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.