Big Gains for TSX to End Strong Week

Stocks in Toronto completed a wild week sharply ahead Friday, as tech and energy stocks made their way into upper levels.

The TSX Composite Index added 86.84 points, to wrap up Friday at 26,429.13. On the week, the index leaped 254 points, or nearly a full percentage point.

The Canadian dollar stepped back 0.15 cents to 73.01 cents U.S.

Tech shares dominated the list of winners, as Shopify gained $9.58, or 6.7%, to $153.12, while Sylogist captured 49 cents, or 5.6%, to $9.32.

Energy was next highest, as Baytex Energy took on nine cents, or 3.9%, to $2.43, while Precision Drilling prospered $2.27, or 3.6%, to $65.53.

In health-care, Bausch Health Companies gained 17 cents, or 2.7%, to $6.51, while Tilray shares grew a penny, or 1.9%, to 55 cents.

Gold shares weighed things down, as Osisko Gold Royalties tanked $1.66, or 9.8%, to $15.25, while Centerra Gold sank 60 cents, or 5.8%, to $9.72.

In materials, Orla Mining dipped $1.65, or 9.8%, $15.26, while Calibre Mining shed 17 cents, or 4.9%, to $3.32.

Consumer staples got roughed up a bit, as Saputo lost 54 cents, or 2%, to $25.97, while Maple Leaf Foods weakened 46 cents, or 1.7%, to $27.36.

This week, U.S. President Donald Trump doubled tariffs on imports on steel and aluminum; Canada is the largest seller of the metals to the U.S.

Federal Industry Minister Melanie Joly said on Thursday that Prime Minister Mark Carney and Trump are in direct communication as part of Ottawa's bid to persuade Washington to lift tariffs.

Meanwhile, a highly-anticipated phone call between Trump and Chinese President Xi Jinping on Thursday, which Trump said led to "a very positive conclusion," offered hope the trade war between the world's two largest economies might start to de-escalate.

On the economic slate, Statistics Canada reported Friday the economy created a mere 8,000 jobs last month, raising the unemployment rate 0.1% percentage points to 7%.

ON BAYSTREET

The TSX Venture Exchange forged higher 3.33 points to 721.60. On the week, the index hiked 27 points, or 3.9%.

The 12 TSX subgroups were evenly split, with energy higher 1.8%, information technology, up 1.7%, and financials, ahead 0.5%.

The half-dozen laggards were weighed most by gold, shedding 2.4%, materials, off 1.6%, and consumer staples, trailing 0.8%.

ON WALLSTREET

Stocks jumped Friday after the latest non-farm payrolls data came in better than expected, easing concern the economy faces an imminent slowdown.

The Dow Jones Industrials soared 443.13 points, or 1.1%, to 42,762.87.

The S&P index recovered 61.06 points, or 1%, to 6,000.36, touching the 6,000 level for the first time since February.

The NASDAQ Composite popped 231.50 points, or 1.2%, to 19,529.95.

The S&P and Dow were each up more than 1%, while the NASDAQ was up more than 2%.

The markets’ move higher was supported by a more than 5% gain in Tesla. Shares of the electric vehicle maker weighed on the market Thursday, tumbling 14%, as CEO Elon Musk sparred with President Donald Trump on social media. Other major tech-related names such as Nvidia, Meta Platforms and Apple also traded higher on the day.

Those gains came after U.S. payrolls climbed 139,000 in May, the Bureau of Labor Statistics reported Friday, above the Dow Jones forecast of 125,000 for the month but less than the downwardly revised 147,000 in

A series of data released earlier this week signaled a possible economic slowdown, raising questions about the impact of the multi-front tariff negotiations and the next steps for the Federal Reserve, which next meets to set interest rate policy on June 17-18.

Prices for the 10-year Treasury fell, hiking yields to 4.51% from Thursday’s 4.40%. Treasury prices and yields move in opposite directions.

Oil prices gushed $1.26 to $64.63 U.S. a barrel.

Gold prices backpedaled $40.80 to $3,334.30 U.S. an ounce.