TORONTO _ The Toronto stock market closed higher as investors hope that upcoming economic data and earnings reports will provide reassurance about the pace of the U.S. economy.
The S&P/TSX composite index gained 63.51 points to 15,094.25. The Canadian dollar was up 0.28 of a cent to 93.8 cents US.
New York indexes moved into positive territory late in the session amid data showing improving consumer sentiment.
The Dow Jones industrials edged up 5.71 points to 16,851.84 and the Nasdaq was up 18.88 points at 4,397.93. The S&P 500 index rose 3.74 points to 1,960.96 as the University of Michigan's widely watched consumer sentiment index rose to 82.5, an improvement on the 81.9 reading that economists had forecast and up from a flash estimate of 81.2.
But the report failed to brighten the mood of investors who were rattled this week by a report showing the U.S. economy contracted by a much worse than expected 2.9 per cent in the first quarter.
Concerns deepened as other data this week contained disappointing readings on consumer spending and consumption.
For news about small stocks that made big moves in Friday’s trading, please read the
Stockhouse Canadian Small and Micro-Cap Stock Report