TSX Finishes Below Par for Day, Soars on Week

Equities in Canada’s biggest marketplace spent a lot of Friday’s session in the clouds, before coming back to earth indeed, in negative country, in response to not-so-favourable jobs numbers.

The TSX Composite Index finished Friday in the red 2.59 points to 27,758.69. Still, in a holiday-shortened week, the index climbed 738 points, or 2.7%.

Markets were off Monday for Civic Holiday.

The Canadian dollar dipped 0.13 cents to 72.69 cents U.S.

Consumer stocks weighed the most among losing subgroups, as Canadian Tire took a beating of $5.71, or 3.5%, to $159.70, while shares in Dollarama got pasted $2.42, or 1.3%, to $190.62.

Financials were also hurt, as Sun Life stumbled $6.72, or 8%, to $77.85, while Definity Financial shares gave back $1.56, or 2.1%, to $71.94.

In real-estate, units of Choice Properties REIT retreated 15 cents, or 1%, to $14.21, while RIOCAN REIT fell 15 cents to $17.68.

Telecoms led the parade of winners, as Quebecor rumbled $1.04, or 2.8%, to $37.81, while rival BCE triumphed 85 cents, or 2.6%, to $33.51.

In health-care, Chartwell Retirement Residence shares took on 35 cents, or 1.9%, to $18.39, while Sienna Senior Living advanced 17 cents to $18.63.

Consumer staples also registered in the green, as Saputo popped $2.62, or 8.9%, to $32.00, while Jamieson Wellness captured $2.52, or 7.2%, to $37.49.

In the macroeconomic world, Statistics Canada reported the economy lost 41,000 jobs in July and the unemployment rate was unchanged at 6.9%.

ON BAYSTREET

The TSX Venture Exchange settled 1.83 points to 787.22 Friday, but kept weekly gains of 26 points, or 3.4%.

Even so, seven of the 12 TSX subgroups were higher by the closing bell, with telecoms claiming 1.7%, health-care better by 1.3%, and consumer staples up 0.5%.

The five laggards were weighed most by consumer discretionary stocks, dumping 1%, while financials and real-estate each lost 0.2%.

ON WALLSTREET

Stocks rose on Friday, putting the three major averages on pace to round out the week with solid gains.

The Dow Jones Industrial Average spiked 206.99 points to 44,175.61, supported by a surge in shares of names like Gilead Sciences and Monster Beverage following their strong quarterly results.

The S&P 500 index jumped 49.45 points to 6,389.45

The NASDAQ hiked 207.32 points to 21,450.02, yet another record closing high.

The 30-stock Dow moved up 1.4% week-to-date, and the broad market S&P 500 up 2.5% in the period. The NASDAQ enjoyed a 3.9% climb on the week.

Apple lifted both the S&P 500's tech sector and the NASDAQ. The iPhone maker has surged 13% this week after announcing plans to spend about $600 billion over four years in the U.S. in a bid to appease President Donald Trump. The stock was heading for its best week since July 2020.

Apple’s latest surge kicked into high gear on as Trump announced earlier this week that he would impose a 100% tariff on imported semiconductors and chips, with an exemption for companies that are “building in the United States.” Shares advanced another 4% Friday.

Shares in Wendy’s moved ahead 12 cents, or 1.3%, to $10.08. Shares in Pinterest plummeted $4.04, or 10.3%, to $35.13, despite better-than-expected sales in Q2.

President Donald Trump’s “reciprocal” tariffs took effect at midnight on Thursday, with some of the steepest duties including Syria’s 41% and Laos’ and Myanmar’s 40% rate.

Stocks initially rose Thursday morning after Trump announced a day earlier that his 100% tariff on imported semiconductor chips would not affect companies that are “building in the United States.”

On Thursday afternoon, the president announced that he has selected Stephen Miran, chair of the Council of Economic Advisors, as his pick to replace Adriana Kugler on the Federal Reserve Board of Governors. Miran will serve out the rest of Kugler’s term, which expires in January, following her resignation last Friday.

Prices for 10-year Treasury were lower Thursday, raising yields to 4.29% from Thursday’s 4.24%. Treasury prices and yields move in opposite directions.

Oil prices leaned lower 26 cents to $63.62 U.S. a barrel.

Gold prices narrowly made their way into positive country $2.40 to $3,456.10 U.S. an ounce.