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Stocks Start out Friday on Up Note

Equities in Canada’s largest centre edged higher on Friday, after data showed monthly domestic retail sales fell in November, while losses in miners and financial stocks weighed on the bourse.

The TSX regained 24.87 points to start the week’s last session at 20,366.31. In spite of the gains and drops of the past week, the index is above water six points.

The Canadian dollar sank 0.02 cents at 74.25 cents U.S.

Sun Life Financial struck a 15-year banc assurance partnership in Hong Kong with Dah Sing Bank which is likely to boost the Canadian insurer's presence in the special administrative region of Hong Kong. The insurer added 39 cents to $65.04.

Hudbay said protesters in Peru entered the Canada-based miner's copper unit in the southern region of Cusco and damaged and burned key machinery and vehicles. Hudbay stock faltered 33 cents, or 4.1%, to $7.76.

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On the economic calendar, Statistics Canada says retail trade for November decreased 0.1% to $61.8 billion in November. Sales decreased in six of 11 subsectors and were led by lower sales at food and beverage stores (-1.6%) and building material and garden equipment and supplies dealers (-3.8%).


ON BAYSTREET

The TSX Venture Exchange returned to the green 3.77 points to 619.68.

All but three of the 12 subgroups showed strength in the first hour, with health-care and information technology each up 0.9%, while materials took on 0.3%.

The three laggards proved to be gold, behind 0.5%, while consumer staples and utilities each retreated 0.4%.

ON WALLSTREET

The NASDAQ Composite jumped on Friday, with help from Netflix and Alphabet, as investors tried to hang onto the January rally and earnings reports continued to trickle in.

The Dow Jones Industrials eked ahead 1.85 points to 33,046.41.

The S&P 500 recovered 20.57 points to 3,919.42.

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The tech-driven index regained 112.70 points, or 1%, to 10,964.20.

For the week, all three indexes are on track to close lower. The Dow is down more than 3% and on track for its worst week since September.

The S&P 500 is down more than 2% and could notch its worst weekly performance since December. The NASDAQ is down more than 2% and on pace to break a two-week win streak.

Netflix gained 8% after posting more subscribers than expected even though its quarterly earnings missed analysts’ estimates. Alphabet rose 3% after the company announced it will lay off 12,000 employees.

Sales of previously owned homes fell for the 11th consecutive month in December, according to the National Association of Realtors.

Existing homes fell to an annualized pace of 4.02 million units in December, down 1.5% month over month and 34% year over year.

Prices for the 10-year Treasury dropped, raising yields to 3.46% from Thursday’s 3.40%. Treasury prices and yields move in opposite directions.

Oil prices gained 12 cents to $80.45 U.S. a barrel.

Gold prices edged up $1.60 to $1,925.50 U.S. an ounce.