TSX Finishes with Gains on Day, Week

(CORRECTS TSX GAIN ON DAY OF 13.98 POINTS)

Stocks in Canada’s largest centre eked out gains to close a successful week, powered by momentum in health-care and tech stocks.

The TSX gained 13.98 points to conclude Friday at 20,714.48. The index registered in the plus column 211.78 points, or 1%.

The Canadian dollar improved 0.29 cents at 75.11 cents U.S.

Cannabis plays made their way up, with Canopy Growth, well, growing 24 cents, or 6.5%, to $3.92, while Tilray moved up 21 cents, or 5.1%, to $4.30.

Among tech stocks, Lightspeed Commerce jumped $1.56, or 6.8%, to $24.43, while HUT 8 Mining gathered 13 cents, or 5.2%, to $2.63.

In energy, Athabasca Oil picked up 15 cents, or 6%, to $2.67, while MEG Energy added 96 cents, or 4.6%, to $21.65.

Gold weighed most heavily on the market, as Equinox Gold ditched 27 cents, or 4.3%, to $6.07, while Sandstorm Gold lost 18 cents, or 2.3%, to $7.83.

In other metals, Endeavour Silver forked over 24 cents, or 4.9%, to $4.71, while Fortuna Silver Mines settled 32 cents, or 5.8%, to $5.25.

Utilities got bruised, with Brookfield Renewable Partners off $1.01 or 2.1%, to $46.80, while Hydro One shed 44 cents, or 1.2%, to $36.38.

ON BAYSTREET

The TSX Venture Exchange edged up 0.87 points to 622.01, for a loss on the week of 1.8 points, or 0.29% .

Seven of the 12 subgroups were lower, with gold sliding 1.2%, materials and utilities each dipping 0.7%.

The five gainers were led by health-care, up 1.6%, information technology, up 1.5%, and energy, ahead on the day 1%.

ON WALLSTREET

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Stocks rose Friday as 2023's comeback rally pressed on, and the major averages headed for a winning week fueled by better-than-expected economic growth and a pop in Tesla shares.

The Dow Jones Industrials gained 28.67 points to finish the day and the week at 33,978.08.

The S&P 500 picked up 10.13 points to 4,070.56.

The NASDAQ Composite moved higher 109.30 points, or 1%, to 11,621.71.

Earnings season pressed on, with strong guidance boosting American Express 11% despite a top-and bottom-line miss. Some chips stocks rose even as Intel slumped about 7% on a dismal earnings report that missed expectations.

All the major averages are positive for the week and month. The Dow is up 2.2% on the week and the S&P 500 has picked up 2.9%. The NASDAQ is up 4.7% and set to notch its best monthly performance since July. Tesla rose 12% Friday, building on a more than 33% weekly gain after reporting record revenue.

So far this year, markets have bucked 2022's selloff trend. The Dow is up 2.9%, while the S&P has gained 6.4%. The NASDAQ has surged 11.5%.

Stocks are coming off a positive session. Investors cheered a better-than-expected fourth quarter gross domestic product report that stoked hopes that the U.S. economy can experience a soft landing as the central bank hikes rates to tame inflation.

Prices for the 10-year Treasury fell, raising yields to 3.52% from Thursday’s 3.47%. Treasury prices and yields move in opposite directions.

Oil prices retreated $1.58 to $74.83 U.S. a barrel.

Gold prices swooned $1.50 to $1,928.50 U.S. an ounce.