Inflation numbers released
The S&P/TSX composite index remained 61.35 points to greet noon at 15,265.83
The Canadian dollar gained
Shares of energy producers climbed, with Suncor Energy adding 0.9% to
CP Rail jumped for a second straight session after reporting
quarterly results on Thursday. The stock was up 2.5% at
The gold-mining sector dropped, weighed down by a decline in the bullion price. Goldcorp fell 1.9% to
On the economic front, Statistics Canada reported this morning that consumer prices rose 2.4% in the 12 months to June, following a 2.3% increase in May. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.3% in June, after rising 0.2% in May.
What's more, the agency reported that the wholesale trade perked once again in May, rising 2.2% to
Nine of the 14 Toronto subgroups were higher, with industrials up 1.4%, energy up 1.1%, and information technology gaining 0.8%.
The five laggards were weighed mostly by gold, down 1.7%, metals and mining off 1.1%, and materials, sliding 0.8%.
Stocks brushed off geopolitical tensions and the blue-chips in particular are on track to end the week solidly higher.
The Dow Jones Industrials spiked 98.68 points higher to 17,075.49.
The S&P 500 progressed 14.93 points to 1,973.05, and the NASDAQ composite leaped 50.86 points to 4,414.31
Thursday, the Dow dropped 161 points. It was the biggest slump in two months.
Drugmakers AbbVie and Shire announced jointly their plans to merge on Friday. The
Such mergers have become more frequent lately, and critics argue that they should be banned. Others, however, say the rise in inversion deals is yet another sign of the urgent need for corporate tax reform.
Google shares rallied over 2.5% after the tech firm reported another quarter of surging sales growth after the bell Thursday, driven by 25% increase in ad viewing compared to the year earlier. News that
Honeywell rose after its second-quarter earnings beat expectations thanks to a 6% uptick in sales. The company also raised its profit outlook for the year.
But shares of General Electric, another manufacturing powerhouse, fell Friday even though the conglomerate reported growth in second quarter revenue and earnings, buoyed by a solid jump in its industrial segment.
Thursday's drama started after news broke of downed Malaysian airliner flight 17 over an area of
The U.S. believes Flight MH17 was brought down by a surface-to-air missile over a region that has seen heavy fighting between pro-Russian separatists and Ukrainian government forces.
Analysts say the tragedy could damage business confidence, particularly in
Prices for 10-year U.S. Treasuries were unchanged, keeping yields at Thursday's 2.48%.
Oil prices sank
Gold prices plummeted
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