TSX Gains on Week

Stocks in Toronto concluded a turbulent week with losses, though the index still finished in the green over the last five days.

The TSX Composite cooled off 57.03 points Friday to end the week at 21,737.53. On that week, the index still managed to gain 185 points, or 0.86%.

The Canadian dollar slid 0.19 cents at 74.14 cents U.S.

Consumer staples took the biggest losses, with Alimentation Couche-Tard slipping $2.55, or 3%, to $82.47, while North West Company faded 80 cents, or 2%, to $39.36.

Energy staggered, with Shawcor falling 68 cents, or 4.3%, to $15.21, while Advantage Oil and Energy off 27 cents, or 2.7%, to $9.85.

Financials also took their lumps, with Power Corporation giving up 84 cents, or 2.1%, to $39.41, while Trisura Group dumped 69 cents, or 1.6%, to $42.71.

In the other directions, gold stocks shone, primarily, Osisko Gold Royalties acquiring 47 cents, or 2.2%, to $21.85, while Equinox Gold picked up 15 cents, or 2.4%, to $6.37.

In real-estate, Northwest Health Care Properties REIT better by nine cents, or 2.2%, to $4.21, while Storagevault added 11 cents, or 2.2%, to $5.20.

In materials, Franco Nevada gained $4.13, or 2.7%, to $155.28, while First Quantum Minerals took on 35 cents, or 2.7%, to $13.30.

On the economic front, Statistics Canada reports the economy created 41,000 jobs in February. The unemployment rate increased 0.1 percentage points to 5.8%, offsetting a decline in January.

ON BAYSTREET

The TSX Venture Exchange squeezed higher 0.21 points to 575.74. On the week, the index added more than four points, or 0.72%.

Seven of the 12 subgroups were in the red by the closing bell, with consumer staples bowing 1.2%, energy slowing 0.8%, and financials poorer 0.3%.

The five gainers were led by gold, climbing 0.8%, while materials picked up 0.4%, and real-estate better by 0.3%.

ON WALLSTREET

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The S&P 500 and NASDAQ Composite retreated on Friday, as Nvidia’s incredible run took a breather and the market neared the conclusion of a choppy week.

The Dow Jones Industrials dropped 68.07 points to close Friday and the week at 38,723.78.

The S&P 500 settled 33.66 points to 5,123.70.

The NASDAQ skidded 188.26 points, or 1.2%, to 16,085.11.

After a rough start, the Dow lost 0.8% and NASDAQ was down 1%, on the week. The S&P 500 flickered around its weekly flatline. This week could mark its 17th positive one of the last 19 for the S&P 500, which would be a first since the 1960s.

Stocks wobbled on Friday as an earlier rally in Nvidia lost steam, with the artificial intelligence darling last down more than 4% on the day.

Though Nvidia dragged on tech, Apple rose more than 1% in Friday trading. With that gain, the mega-cap stock was on track to snap its longest losing streak since early 2022 at seven days. But shares were still down more than 4% on the week, making it the worst performer in the 30-stock Dow.

The February jobs data gave some conflicting signals as to when it will be safe for the Fed to start cutting interest rates. On one hand, the number of jobs added last month was much more than expected, coming in at 275,000 compared with an estimate of 198,000 from economists polled by Dow Jones. This data can imply an economy that’s still running pretty hot.

But the unemployment rate unexpectedly ticked higher to 3.9% and wage growth was lighter than feared, offering morsels of hope that inflation has cooled enough to appease the Fed. Data on January jobs growth was also revised lower.

Prices for the 10-year Treasury gained some ground Friday, lowering yields to 4.08% from Thursday’s 4.09%. Treasury prices and yields move in opposite directions.

Oil prices skidded $1.04 to $77.89 U.S. a barrel.

Gold prices hiked $19.10 to $2,184.30.