Gains in 10 of 11 sectors coupled with a mostly positive jobs report from Statistics Canada gave the TSX a lift today.
The index jumped 213 points, driven by healthy increases in the heavyweight financials and energy sectors.
Oil rising for a fifth straight day boosted Canadian energy stocks.
Crude prices moved up $1.18 to $48.27 US a barrel on news of progress in U.S./China trade talks, positive American employment numbers, and data showing that U.S. crude inventories remained relatively unchanged.
Meanwhile, Canada’s unemployment rate sits at its lowest in four decades, and the nation added 9,300 mostly part-time jobs in December after a record jump of 94,100 jobs in November.
In the 12 months to December, employment increased by 163,000, entirely driven by gains in full-time work.
Aerospace giant Bombardier and marijuana producer Aurora Cannabis were the two most actively traded companies on the TSX and both were firmly in the green.
In New York, the Dow’s roller coaster ride continues as the index surged 746 points.
The index was fueled by a unexpectedly solid jobs report released today, along with Federal Reserve Chairman Jerome Powell hinting towards flexibility regarding future rate hikes and China taking steps to stimulate its ailing economy.
After losing three percent yesterday, the Nasdaq bounced back in a big way by jumping 275 points with Apple erasing some of Thursday’s losses.
It was also a big day for Netflix, which jumped 9.7 percent after being given a buy rating from Goldman Sachs analysts.
The Canadian dollar and gold went in opposite directions.
The loonie shot up by 62/100ths of a cent to $0.7474 US while gold lost $8.00 to $1,286 an ounce.
