(MENAFN- Baystreet) TSX Lurches Toward Record High
Futures Tame as Rate Bets Decline
TSX Finishes Flat
TSX Jumps on Upbeat Results
TSX Opens Higher Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Friday, May 17, 2024
Stocks Rise on
commodities Strength Tilray in Forefront
Canada's main stock index kept its upward momentum going on Friday, hovering near record highs, buoyed by surging commodity prices that lifted the energy and materials sectors.
The TSX Composite Index gained 68.4 points to break for lunch hour Friday at 22,368.23.
The Canadian dollar eked ahead 0.04 cents at 73.49 cents U.S.
In corporate updates, shares in Tilray Brands dropped 5.7% to the bottom of TSX after the cannabis-lifestyle company announced that it may offer and sell shares of common stock having an aggregate offering price of up to $250 million.
On the final economic reports before Victoria Day, Statistics Canada told us Canadian investors acquired an unprecedented $35.6 billion of foreign securities in March, ending the first quarter with a record investment of $51.5 billion. Meanwhile, foreign investors increased their exposure to Canadian securities by $14.4 billion in March after divesting $4.3 billion in February.
ON BAYSTREET
The TSX Venture Exchange leaped 12.61 points to 615.88.
Eight of the 12 TSX subgroups lost ground Friday, with health-care ailing 2.4%, while consumer discretionary and real-estate each descending 0.6%.
The four gainers were led by materials, ahead 1.8%, gold, up 1.7%, and energy was boosted 0.4%.
ON WALLSTREET
The Dow Jones Industrial Average traded near flat Friday, after the blue-chip average briefly topped the key 40,000 level for the first time in the previous session.
The 30-stock index gained 26.11 points to 39,895.49.
The S&P 500 eked up 0.35 points to 5,297.45.
The NASDAQ Composite subtracted 3.48 points to 16,694.84.
Stocks are on pace for a strong finish to the week, with the S&P 500 up 1.5% and the NASDAQ touting a 2.3% gain. Both indexes are on track for a fourth consecutive winning week, a first since February. The Dow is pacing for a fifth positive week, up 1% for the period.
Prices for the 10-year Treasury slipped, raising yields to 4.41% from Thursday's 4.38%. Treasury prices and yields move in opposite directions.
Oil prices took on 37 cents to $79.60 U.S. a barrel.
Gold prices moved ahead $26.20 to $2,411.70.
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