Happy Friday on Toronto and New York markets
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A week that saw North American markets swoon finished on strong U.S. jobs data for November, which increased the most in 10 months. Also Friday, the American dollar gained, gold fell more than 1%, and oil rose, the latter because OPEC+ agreed to production cuts.
The TSX didn’t fare too badly either, finishing the week three points shy of 17,000, up 0.84% after losing ground from weak bank earnings this past week. Speaking of which, banks like TD and Royal rose modestly on Friday, up 0.56% and 0.22%. Faring better, lifecos Manulife and Sun Life jumped Friday well above 1% to approach their 52-week highs. Also flirting with fresh highs was Alimentation Couche-Tard, surging 2.05%. Getting back to oil, names like Suncor spiked 3.75% on the OPEC+ news, trading well above its 52-week lows and offering hope to this battered sector.