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Stockhouse @ the Bell: TSX modestly higher at end of positive week, N.Y. shut for July 4 holiday

Canadian Press, The Canadian Press
1 Comment| July 4, 2014

TORONTO _ Industrials and telecoms led the way to a minor advance on the Toronto stock market at the end of a positive week.

Still, Canada's main stock market closed at another record high as the S&P/TSX composite index rose 7.85 points to 15,214.96. Trading was much lighter than usual with U.S. markets closed for the Independence Day holiday.

The Canadian dollar edged down 0.15 of a cent to 93.84 cents US.

The Toronto market racked up a solid weekly gain of 120.71 points or 0.8 per cent, led by mining and financial stocks after U.S. jobs data for June released Thursday came in far higher than expected. The report also increased optimism that the U.S. economy will rebound significantly after shrinking in the first quarter.

The Dow Jones industrials finished the week up 1.28 per cent.

Traders are now focused on the start of U.S. second-quarter earnings reports for reassurance about how the American economy performed in the April-June period.

Heavyweights reporting next week include economic bellwether and resource giant Alcoa, along with Wells Fargo, the biggest U.S. mortgage lender.

For news about small stocks that made big moves in Friday’s trading, please read the
Stockhouse Canadian Small and Micro-Cap Stock Report


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July 6, 2014
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