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TSX Flat by Week’s End


“Black Friday” proved to be somewhat grey for investors in Toronto, with indexes not moving much at all.

The TSX Composite sank into the red 13.55 points to finish the week at 20,103.11, for a loss of 72.7 points, or 0.36%, on the week.

The Canadian dollar climbed 0.35 cents at 73.36 cents U.S.

Tech shares weighed most heavily on the laggards, with Docebo sagging $1.27, or 1.9%, to $65.41, while Bitfarms was bitten 12 cents, or 7.6%, to $1.46.

Centerra Gold dipped two cents to $7.53.

Among consumer discretionary stocks, Restaurant Brands International sank $1.28, or 1.3%, to $94.82, while BRP lost 76 cents to $98.43.

Financials pointed upward, with Nuvei Corporation surging 51 cents, or 1.9%, to $27.14, while Definity Financial being hoisted 17 cents to $37.04.

In communications, Quebecor gained 15 cents to $30.23, while TELUS Corp. broke breakeven eight cents to $24.12.

In health-care issues, Tilray Inc. acquired three cents to $2.46, while Sienna Senior Living took on five cents to $10.87.

On the economic calendar, Statistics Canada said retail sales increased 0.6% to $66.5 billion in September. Sales were up in four of nine subsectors and were led by increases at motor vehicle and parts dealers.

ON BAYSTREET

The TSX Venture Exchange picked up 2.27 points to 532.33, for a weekly gain of 1.8 points, or 0.34%.

Seven of the 12 TSX subgroups were lower, as information technology dipped 0.4%, gold dulled 0.3%, and consumer discretionary let go of 0.2%.

The five gainers were led by financials and communications, each up 0.2%, while health-care eked up 0.1%.

ON WALLSTREET

The Dow Jones Industrial Average rose on Friday, as the major averages aimed for a four-week winning streak.

The 30-stock index leaped 117.12 points to close an abbreviated Black Friday at 35,390.15. On the shortened week, the blue-chip index hopped 442 points, or 1.27%.

The S&P 500 eked up 2.72 points to 4,559.34, for a gain on the week of 45 points, or 1%.

The NASDAQ brushed off 15 points to 14,250.85, but was in the plus column 125 points, or just below 0.9%.

Major retail shares were mixed in trading as Black Friday kicked off the holiday shopping season. Walmart was up 0.8%, while Amazon ticked higher 0.1%.

Nvidia shares fell $8.43, or 1.7% to $478.73, after Reuters reported that Nvidia notified its China clients that it will delay until next year a new artificial intelligence chip designed to comply with U.S. export restrictions.

Fisker jumped 11 cents to $2.23. On Wednesday, the company announced that it filed a delayed quarterly report. The original report was pushed back earlier this month due to accounting personnel changes. Fisker also announced changes to its finance leadership team.

For the week, all three major indices are up 1% each. It would be the longest weekly winning streak for the S&P 500 and NASDAQ since June. The Dow, meanwhile, hasn’t posted a weekly run this long since April.

The U.S. stock market closes at 1 p.m. after being closed Thursday due to the Thanksgiving holiday. On Wednesday, the major averages closed higher after the 10-year Treasury yield fell to levels not seen since September.

Prices for the 10-year Treasury faded, raising yields to 4.48% from Wednesday’s 4.41%. Treasury prices and yields move in opposite directions.

Oil prices gained $1.01 to $76.09 U.S. a barrel.

Gold prices revived nine dollars to $2,001.80.

Dow Closes Out Winning Week with 100-Pt. Jump



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