Health-care stocks healthiest
WEEKLY MARKET WRAP UP
The S&P/TSX composite index shed 3.12 points to end the day and week at 15,109.10. Still, the broader
The Canadian dollar vaulted
Health-care stocks were the most vibrant of the bunch with heavyweight Valeant Pharmaceuticals spiking
Among real estate issues, Chartwell Retirement Residence acquired
Financials gained some ground as Bank of Montreal rose
Shares of energy producers gained as Suncor Energy was up
Among gold producers, Barrick Gold Corp lost
On the economic front, Statistics Canada reported that consumer prices rose 2.3% in the 12 months to May, following a 2.0% increase in April. On a seasonally-adjusted monthly basis, the Consumer Price Index increased 0.2% in May, after rising 0.3% in April.
What's more, retail sales increased for the fourth consecutive month in April, advancing 1.1% to
Lastly, the ratio of Canadian household debt to income edged down further in the first quarter from the record high it hit last year, buttressing policymakers' expectations that a soft landing is in store for the housing market and family indebtedness.
The 14 Toronto subgroups were evenly split between gainers and losers, with health-care leading the former group, up 1%, real-estate 0.7% into the green, and energy better by 0.6%.
The seven laggards were weighed by gold, down 1.3%, consumer staples and materials each off 0.9%.
It was a strong week for investors in
The Dow Jones Industrials pushed higher 25.62 points to finish Friday at 16,947.08
The S&P 500 gathered 3.39 points to 1,962.87, hitting another new record and trading above 1,960 for the first time, and the NASDAQ composite gaining 8.71 points to 4,368.04, held back by Oracle's poor performance. Don't look for records there any time soon: it's about 13% off its 2000 peak.
All three of the major indexes closed the week with 1% or greater gains.
However, Things are looking up for smartphone pioneer BlackBerry. On Wednesday it announced a new partnership with Amazon for its app store. It reported Thursday that it actually made money last quarter as analysts were expecting a loss, and it announced a couple of new devices on its earnings call yesterday.
A "phablet" called the Passport and a BlackBerry "Classic" are on the way later this year. BlackBerry shares were up around 8%.
CarMax is having a great morning after reporting stronger sales. The company said it had growth in every area of the company except warranties.
It also said that it was continuing to test the waters of sub-prime auto lending after its financing division reported 9% income growth. The stock was up more than 16%. AutoNation, another nationwide used car dealership chain, was up more than 4%.
Coach has fallen nearly 3% so far today after the company said during its annual Investor Day that it was going to close 70 stores worldwide at a cost of as much as
Darden Restaurants reported poor earnings and gave another glimpse into why shareholders were so mad it didn't shove Olive Garden out the door when it dumped Red Lobster earlier this year.
Darden also owns
The stock fell 3.8% Friday.
Smith & Wesson reported earnings were good but sales are falling. After a fear-driven boost in gun sales, things are getting back to normal and Americans are buying fewer guns. Thus, shares were down over 9%.
Activist hedge fund investor
He's also demanding to nominate three members for the company's board of directors. Investors may have seen this coming, though. The stock was flat into the afternoon.
Prices for 10-year U.S. Treasuries were static, keeping yields at Thursday's 2.62%.
Oil prices climbed
Gold prices took on