S&P/TSX composite up more than 600 points, U.S. markets mixed to close volatile week
BNN Bloomberg
Canada’s main stock index climbed higher on Friday, while U.S. markets were mixed as some investors looked for re-entry points.
Dustin Reid, vice-president and chief strategist for fixed income at Mackenzie Investments, said that stock markets have seen some volatility this past week with risks “bouncing around a fair bit on a number of themes.”
Friday’s trading session may have marked “a little bit of a buyback” given some of the recent risks, he said.
The S&P/TSX composite index was up 608.43 points at 33,073.71.
In New York, the Dow Jones industrial average was up 48.95 points at 49,500.93. The S&P 500 index was up 3.41 points at 6,836.17, while the Nasdaq composite was down 50.48 points at 22,546.67.
The Canadian stock market benefited from gains in the basic materials sector.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week.
The Trump administration has expanded its trade investigations to 60 countries, including Canada, in an effort to shore up the president’s tariff policies.
Canada has committed to supplying 23.6 million barrels of oil as part of a larger International Energy Agency plan to help stabilize energy markets as the war in the Middle East continues.
Canada’s energy-heavy index may cushion stocks from oil shocks, but rising crude prices could boost inflation and pressure consumers.
Venture Global will proceed with phase 2 of its CP2 liquefied natural gas project in Louisiana, the company said on Friday.
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
Telus Corp.’s global IT and customer services arm says it’s investigating a breach of its systems.
When Jensen Huang strides onto the stage of a packed hockey arena to kick off Nvidia’s annual developer conference on Monday, he is likely to reveal products and partnerships geared toward keeping the AI chipmaker atop a growing array of competitors.
The current Canada Revenue Agency (CRA) crackdown on Canada’s growing army of gig workers has gone beyond Uber drivers, contractors, consultants, handy-people and freelancers.
The U.S. Trade Representative’s office said late on Thursday it had begun Section 301 unfair trade practices probes of 60 economies in relation to what it called failures to take action on forced labor.