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TSX gains for first time in 6 days

Oct 12, 2018 (Baystreet.ca via COMTEX) --

Equities in Canada's largest market bounced back on Friday and was set to break its five-day losing streak, driven by gains in health-care shares.

The S&P/TSX Composite Index gained 67.91 points - though off its highs of the morning -- to move into noon hour at 15,385.04

The Canadian dollar was unchanged at 76.75 cents U.S.

Shares of Aurora Cannabis rose 70 cents, or 5.6%, to $13.32, while peer cannabis producer Canopy Growth gained $3.09, or 5%, to $64.38.

Precious metals miner Tahoe Resources fell 17 cents, or 4.4%, the most on the TSX, to $3.72, followed by New Gold, down 5.5 cents, or 5.1%, to $1.02.

The largest percentage gainer on the TSX was Element Fleet Management, which rose nine cents, or 1.1%, to $8.20, after at least two brokerages upgraded the stock.

Shopify Inc, which rose $5.48, or 3.3%, to $172.20, was the second-biggest gainer on the main index.

ON BAYSTREET

The TSX Venture Exchange recovered 5.07 points to 696.53

All but two of the 12 subgroups remained positive midday Friday, led by health-care, sprinting 4.2%, while information technology sparked 1.3%, and industrials, better by 1.2%

Only gold, sliding 2.4%, and materials, off 1%, missed the party.

ON WALLSTREET

Stocks surged on Friday as worries over rising rates subsided and tech shares rebounded from steep losses earlier this week.

The Dow Jones Industrial Average recovered 172.75 points to pause for lunch Friday at 25,225.58, as Visa surged 4.6%.

On Thursday, Wall Street closed sharply down, with the Dow falling over 540 points, bringing its two-day losses to more than 1,300 points.

The S&P 500 advanced 27.51 points, or 1%, to 2,756.59, with the tech sector surging 2.9%.

The NASDAQ spiked 123.62 points, or 1.7%, to 7,507.65

Netflix zipped 6% higher, while Amazon picked up 4.3%, and Apple gained 3%. Facebook rose 0.8% and Alphabet advanced 2.5%.

Sentiment was also lifted by stronger-than-expected third-quarter results from Wells and Citigroup, which sent their stocks up by more than 1% each. J.P. Morgan Chase also reported a better-than-forecast profit.

Expectations for this earnings season are high. Analysts expected S&P 500 earnings to grow by 19%.

Prices for the benchmark for the 10-year U.S. Treasury regained some ground, lowering yields to Thursday's 3.15%. Treasury prices and yields move in opposite directions.

Oil prices regained 25 cents at $71.22 U.S. a barrel.

Gold prices dropped $4.70 to $1,222.90 U.S. an ounce.

********************************************************************** As of Monday, 10-08-2018 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated a DOWNTREND on 04-20-2012 for JPM @ $43.15. For more inform

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