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The S&P/TSX index gained 1.21% to settle at 19,366.69 on Friday, May 14, in the wake of US inflation numbers that raised concerns about rising interest rates.
The rally was driven by the surges in energy stocks (up 3.32%), financial stocks (up 1.33%) and healthcare stocks (1.941%). It was, however, partially offset by weakness in the Base Metals and Industrials sectors.
1 Year S&P/TSX Composite Daily Price Chart (as on May 14, 2021). Source: EODHD/Others (Thomson Reuters)
The TSX Venture Index was up by 2.54% to 931.38.
Movers and Laggards on TSX Composite
Source: EODHD/Others (Thomson Reuters)
Active Volume Leaders
The most heavily traded stocks on the TSX on Friday were Enbridge Inc, with 16.50 million, Manulife Financial Corporation, with 14.50 million, and Cenovus Energy Inc, with 10.91 million.
Wall Street Update
Stocks on Wall Street traded in green on Friday. The Dow Jones Industrial Average increased 360.68 points to 34,382.13, while S&P 500 gained 61.35 points to 4,173.85 and the Nasdaq Composite jumped 304.99 points to 13,429.98.
Commodity Update
Gold also extended its upward trajectory, up by 1.02% to trade at US$ 1,843.85.
The same trend was observed in oil prices, where Brent Oil jumped 2.48% to US$ 68.71/bbl, and WTI Crude Oil gained 2.43% to close higher at US$ 65.37/bbl.
Currency News
The Canadian dollar gained some ground against its US counterpart on Friday, after a three-day losing streak, with USD/CAD trading 0.48% lower at 1.2102.
The US Dollar Index corrected against the basket of major currencies, declining 0.47% to close at 90.32 on Friday.
Money Market
The US 10-year bond yield declined for the second straight session on Friday, down 1.44% at 1.635.
The Canada 10-year bond yield also witnessed a decline for the second session, down 0.38% to 1.563 on May 14, 2021.
