Gold leads parade
The S&P/TSX composite index reacquired 45.97 points to greet noon at 15,604.14, after a negative start to the day.
The Canadian dollar was up
Resource sectors provided lift with the gold sector ahead while Argonaut Gold sprinted ahead
December copper gained
The energy sector rose as Imperial Oil gathered
On the economic calendar, the economy showed encouraging signs in the second quarter of 2014. Figures released by Statistics Canada revealed that real gross domestic product (GDP) rose 0.8%, following a 0.2% increase in the first quarter. This was the largest quarterly gain since the third quarter of 2011. On a monthly basis, real GDP by industry increased 0.3% in June.
In a mini-blizzard of activity, the agency also said its Industrial Product Price Index declined 0.3% in July, mainly because of lower prices for energy and petroleum products. StatsCan's Raw Materials Price Index declined 1.4%, mostly due to lower prices for crude energy products.
All but one of the 14 Toronto subgroups were higher by noon hour ET, with gold soaring 1.3%, materials stronger by 0.9%, and energy better by 0.7%.
Utilities missed the party, slipping 0.4%.
U.S. stocks showed little change early Friday, as the S&P 500 eyed its best August performance in 14 years.
The Dow Jones Industrials recovered 6.55 points to 17,086.12.
The S&P 500 improved 4.07 points to 2,000.81. The NASDAQ gained 16.49 points to 4,574.19.
The S&P 500 had gained 3.4% for the month as of Thursday's close, and if that holds it would represent the benchmark's best August performance since 2000. The S&P 500 is also on pace for its largest monthly percentage jump since February, when it rose 4.3%.
For the week, the S&P 500 is up 0.4%. The Dow is on track for advances of 0.2% for the week and 2.9% for the month, while the NASDAQ is eyeing climbs of 0.5% for the week and 4.3% for August.
Big Lots Inc. fell 1.8% after the discount retailer reported better-than-expected second-quarter earnings, while revenue came in slightly below expectations.
Splunk Inc. jumped 15.3% after the software maker late Thursday reported earnings that topped analysts' estimates, while Avago Technologies Ltd. climbed 8.3% as the chip company's earnings, out late Thursday, also beat analysts' expectations.
Consumer spending dipped 0.1% in July, marking its first decline in six months and falling short of the 0.1% increase expected by economists.
On the upside, the latest figures for consumer sentiment and
Prices for 10-year U.S. Treasuries sagged, prodding yields up to 2.34% from Thursday's 2.33%. Treasury prices and yields move in opposite directions.
Oil prices were up
Gold prices faltered
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