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Canadian main equity index ticked up by 360.34 points or 1.85 per cent to settle at 19,773.34 on Friday, September 9, underpinned by broad-based rally which came despite Canada’ Labour Force Survey for August 2022, which indicated a 0.2 per cent drop in employment. The survey released by the national data agency, Statistics Canada, also suggested that unemployment grew by 0.5 per centage points to 5.4 per cent in August.
The healthcare sector rose by 4.02 per cent while the base metals sector swelled by 3.8 per cent. The technology sector was also surged by 3.43 per cent followed by the energy, up by 2.69 per cent. The financial and industrial sector shot higher by 1.69 per cent and 1.59 per cent respectively with the telecom and utilities also in the green zone.
One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (September 9). Analysis by © 2022 Kalkine Media®).
Volume Active
Suncor Energy (TSX:SU) was first among volume actives as about 11.45 million SU shares switched hands on the Toronto Stock Exchange (TSX). Barrick (TSX:ABX) was second as its trading volume was around 11.39 million. The third volume active stock was Canadian Natural Resources (TSX:CNQ), with approximately 8 million CNQ shares exchanging hands on the Friday session.
Wall Street update
The Wall Street stocks were also on the upward trajectory on Friday as the NASDAQ Composite swelled by 2.1 per cent while the NYSE Composite soared by 1.53 per cent. Other US indices, including the S&P 500 and the Dow Industrials, also spiked by 1.53 per cent and 1.19 per cent, respectively.
Commodities
The yellow metal also climbed higher as gold prices closed higher at US$ 1,728.6 per troy ounce, an increase of 0.49 per cent. Oil benchmarks also soared higher. The Crude WTI Futures for October 2022 grew by 4.59 per cent to close at US$ 86.79 per barrel. On the other hand, the Brent Oil Futures for November 2022 also jumped by 4.76 per cent to US$ 92.84 a barrel on September 12.
Currency news
The CAD/USD appreciated by 0.48 per cent to reach 0.76, and the US Dollar Index Futures for September 2022 dipped by 0.65 per cent to 108.99 on September 12. The CAD/EUR also traded higher at 0.76, up by 0.04 per cent at the market close.
Bond Market
The 10-Year Bond Yield slipped by two per cent to 3.15 at the end of the Friday session in Canada. In the United States, the 10-Year Bond Yield was reduced by 0.22 per cent to 3.31.
