Canada's main stock index closed at a new record high for its 12th straight day of gains on the back of a strong performance from the industrials sector, while U.S. markets were mixed.
Mike Archibald, vice-president and portfolio manager with AGF Investments Inc., said the S&P 500 index's gain in the U.S. on Thursday meant that exchange has had seven positive closes in a row.
"The short term momentum in the market is continuing here, albeit at a lower cook than the last four or five days in the market," said Archibald.
"It seems as though there's still a desire for money to flow into equities."
The S&P/TSX composite index was up 24.20 points at 21,212.39 after closing at a record high on Wednesday. The industrials and information technology indices carried the exchange, with 1.26 per cent and 1.29 per cent rises in those sectors respectively.
In New York, the Dow Jones industrial average was down 6.26 points at 35,603.08. The S&P 500 index was up13.59 points at 4,549.78, while the Nasdaq composite was up 94.02 points at 15,215.70.
Archibald said the U.S dollar bounced back from a weak stretch on Thursday, as the Canadian dollar traded for 80.97 cents US compared with 81.11 cents US on Wednesday.
He said the rise in the greenback led to a drop in commodity prices, which in turn weighed down TSX and kept the index's gains relatively small.
The December crude oil contract was down 92 cents at US$82.50 per barrel and the November natural gas contract was down six cents at US$5.12 per mmBTU.
The December gold contract was down US$3 at US$1,781.90 an ounce and the December copper contract was down 18 cents at US$4.56 a pound.
The TSX's materials index was down 1.04 per cent to 320.15 points as a result.
In the U.S., Archibald said investors were watching jobless claims numbers that were slightly better than expected, with first-time unemployment insurance filings dropping by 6,000 to 290,000.
A business outlook survey from the U.S. Federal Reserve came in slightly weaker than expected, which Archibald said led to investors turning to invest in growth sectors like information technology.
Quarterly earnings continued to make an impact on equities this week, with Canadian National Railway up 1.68 per cent and Canadian Pacific Railway up 0.75 per cent after positive earnings this week.
"The numbers weren't spectacular, but I think the bar was pretty low for both those companies, so there's a bit of follow-on buying occurring here today," said Archibald.
Rogers Communications Inc.'s stock took a hit on Thursday with a 1.75 per cent drop to $60.19, despite meeting expectations in their earnings report Thursday.
Archibald attributed the drop to an ongoing boardroom feud, which the Rogers's CEO addressed publicly for the first time in the company's earnings call.
"I feel supported and rest assured that the entire executive team is focused on two things," said Joe Natale, president and chief executive of Rogers, during the conference call with analysts.
"One, running the business to keep driving performance, and two, landing the Shaw transaction and the synergies and integration efforts that stand behind it."
Multiple big name companies in Canada are set to report earnings next week, with Archibald pointing out Restaurant Brands International Inc., Teck Resources Ltd., and Suncor Energy Inc. as some to note.
This report by The Canadian Press was first published Oct. 21, 2021.
A Canadian man who is trapped in Lebanon with his family says they are anxiously waiting for seats on a flight out of the country, as a barrage of Israeli airstrikes continues.
NDP House leader Peter Julian says there's more his party wants to do in Parliament before the next election, but if the current dysfunction continues it will become a factor in how they vote on a confidence measure.
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A 21-year-old Yazidi woman has been rescued from Gaza where she had been held captive by Hamas for years after being trafficked by ISIS.
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A 21-year-old man who was charged with attempted murder in the shooting of a Toronto police officer this week was out on bail at the time of the alleged offence, court documents obtained by Â鶹´«Ã½ Toronto show.
Prosecutors have charged a Michigan man with killing and dismembering a janitor he met on the dating app Grindr.
Nearly 30 years after a six-year-old girl disappeared in Western Arkansas, authorities have identified a suspect in her abduction through DNA evidence.
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The federal Fisheries Department says it is concerned about a "pattern" of violence and threats toward its enforcement officers after two tense incidents off southwestern Nova Scotia last month.
The owner of a Gatineau, Que. café says it's 'silly' that Quebec's language watchdog is telling the business to write its Instagram posts in French.
A teen charged with the murder of another teen on Prince Edward Island last year has pleaded guilty to a lesser charge of manslaughter.
NDP House leader Peter Julian says there's more his party wants to do in Parliament before the next election, but if the current dysfunction continues it will become a factor in how they vote on a confidence measure.
More than half of the 205 firearms lost by the Royal Canadian Mounted Police since 2020 have been recovered, but two machine guns remain missing.
The U.S. and British militaries struck more than a dozen Houthi targets in Yemen on Friday, going after weapons systems, bases and other equipment belonging to the Iranian-backed rebels, U.S. officials confirmed.
Armed men belonging to the Gran Grif gang killed at least 70 people, including three infants, as they swept through a Haitian town shooting automatic rifles at residents, a spokesperson for the United Nations' Human Rights Office said on Friday.
Iran’s supreme leader on Friday praised the country’s recent missile strike on Israel and said it was ready to do it again if necessary, state TV reported.
Prosecutors have charged a Michigan man with killing and dismembering a janitor he met on the dating app Grindr.
UN peacekeepers are staying in their positions on Lebanon’s southern border despite Israel’s request to vacate some areas before it launched its ground operation against Hezbollah militants, the UN peacekeeping chief said Thursday.
An Israeli airstrike on a West Bank cafe that the military said targeted Palestinian militants also killed a family of four, including two young children, relatives told The Associated Press on Friday.
NDP House leader Peter Julian says there's more his party wants to do in Parliament before the next election, but if the current dysfunction continues it will become a factor in how they vote on a confidence measure.
Prime Minister Justin Trudeau is set to announce funding to support French-speaking African countries and initiatives to promote the French language in the Francophonie.
Defence Minister Bill Blair says Israel has the right to defend itself in 'a calibrated and proportional way' following Iran’s ballistic missile attack against Israel on Tuesday.
When an Ontario doctor refused to sign off on a mammogram for 38-year-old Sidra Lone, the mother of four says she was left with no choice but to lie.
Staff at Saskatoon's Royal University Hospital are calling for systemic changes just two days after its emergency room was more than three times above its capacity.
An Ontario child has died after coming in contact with a rabid bat, a health official confirmed on Wednesday.
For humans, flashing a smile is an easy way to avoid misunderstanding. And, according to a new study, bottlenose dolphins may use a similar tactic while playing with each other.
Alphabet's Google is testing showing check marks next to certain companies on its search results, a company spokesperson said on Friday, in a move aimed at helping users identify verified sources and steer clear of fake websites.
A hacking group tied to Russian intelligence tried to worm its way into the systems of dozens of western think tanks, journalists and former military and intelligence officials, Microsoft and U.S. authorities said Thursday.
The jury tasked with determining if Canadian musician Jacob Hoggard sexually assaulted a young woman in northeastern Ontario eight years ago began deliberating Friday after nearly two weeks of testimony that saw the singer and his accuser give starkly different accounts of what happened.
Legendary singer Paul Simon has said he is 'optimistic' about being able to return to performing live after losing most of his hearing in his left ear.
A painting discovered by a junk dealer in the basement of an Italian villa six decades ago is actually the work of Pablo Picasso and could sell for millions, according to experts.
Canada's airlines have failed in their challenge of air passenger protection rules that the federal government implemented in 2019.
The Competition Bureau says it's obtained a court order as part of an investigation into potential anti-competitive conduct by the Canadian Real Estate Association.
The Vatican Bank has fired two employees whose recent wedding violates a newly-introduced ban on marriages between staff.
A five-seat sushi counter located inside another restaurant is the latest Vancouver eatery to receive a Michelin star.
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Caitlin Clark has been named the WNBA Rookie of the Year in a near-unanimous vote, giving the Indiana Fever back-to-back winners after Aliyah Boston won the honour last season.
Days after being suspended by FIFA, Argentina goalkeeper Emiliano Martinez produced heroics in front of the watching Prince William as Aston Villa sealed another famous win against Bayern Munich.
The claim to Shohei Ohtani's potentially lucrative 50th home run ball grew more complicated this week, with a second fan filing a lawsuit asserting he had possession of the historic baseball.
Tesla is recalling more than 27,000 Cybertrucks because the rearview camera image may not activate immediately after shifting into reverse, the fifth recall for the vehicle since it went on sale late last year.
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A group of classic car enthusiasts donated hundreds of blankets to nursing homes in Nova Scotia.
Chantal Kreviazuk is set to return to Winnipeg to mark a major milestone in her illustrious musical career.
From the beaches of Cannes to the bustling streets of New York City, a new film by a trio of Manitoba directors has toured the international film festival circuit to much pomp and circumstance.
A husband and wife have been on the road trip of a lifetime and have decided to stop in Saskatchewan for the winter.
The grave of a previously unknown Canadian soldier has been identified as a man from Hayfield, Man. who fought in the First World War.
A group of classic car enthusiasts donated hundreds of blankets to nursing homes in Nova Scotia.
Moving into the second week of October, the eastern half of Canada can expect some brisker fall air to break down from the north
What does New Westminster's təməsew̓txʷ Aquatic and Community Centre have in common with a historic 68,000-seat stadium in Beijing, an NFL stadium and the aquatics venue for the Paris Olympics? They've all been named among the world's most beautiful sports venues for 2024.
The last living member of the legendary Vancouver Asahi baseball team, Kaye Kaminishi, died on Saturday, Sept. 28, surrounded by family. He was 102 years old.
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NDP Leader David Eby is vowing to raise British Columbia's speculation and vacancy tax on empty homes if re-elected premier this month.
One day after a man was stabbed to death in East Vancouver, a 27-year-old woman has been charged with murder.
A Vancouver tenant is at war with his former landlord over what he calls an exorbitant charge for bent blinds.
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been “randomly targeted.â€
A 21-year-old man who was charged with attempted murder in the shooting of a Toronto police officer this week was out on bail at the time of the alleged offence, court documents obtained by Â鶹´«Ã½ Toronto show.
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The owner of a Gatineau, Que. café says it's 'silly' that Quebec's language watchdog is telling the business to write its Instagram posts in French.
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A teen charged with the murder of another teen on Prince Edward Island last year has pleaded guilty to a lesser charge of manslaughter.
The federal Fisheries Department says it is concerned about a "pattern" of violence and threats toward its enforcement officers after two tense incidents off southwestern Nova Scotia last month.
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The Opposition Tories introduced a motion to get the justice system to take another look at the case of Jordyn Reimer.
Chantal Kreviazuk is set to return to Winnipeg to mark a major milestone in her illustrious musical career.
Winnipeg Comiccon will feature a pair of hobbits who helped bring the One Ring to Mount Doom.
RCMP say fraudsters are continuing to ask for gas money before selling fake gold jewelry to people around Saskatchewan.
Saskatchewan Party Leader Scott Moe says if re-elected, his government would introduce a Saskatchewan Home Renovation Tax Credit aimed at making renovations more affordable.
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Waterloo Regional Police have laid charges after a car crashed into the side of a Kitchener home at 3:30 a.m.
A DoorDash driver who was caught on camera appearing to spit into an Ontario man’s drink has been removed from the platform, the food delivery company has confirmed.
Two serious crashes shut down Highway 401 early Friday morning in Puslinch, Ont.
Saskatoon police arrested a homeless person at the scene of an encampment underneath the University Bridge on Friday morning.
The mayor of Loon Lake is appealing to both provincial and federal government leaders for assistance in dealing with rising crime in the village, which has seen an increase in vandalism, theft, and property damage.
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A northeastern Ontario jury has started deliberating in Canadian musician Jacob Hoggard's sexual assault trial, we can now tell you what they weren't allowed to hear.
An outfitter in Kenora, Ont., and two individuals have been fined a total of $9,500 for bear hunting offences, including abandoning a bear they shot and using it as bait to hunt another bear.
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The suspect was believed to be in New Brunswick following a LPS investigation. On September 27, a 30-year-old was arrested by Saint John Police and returned to London.
A ceremony was held inside the Wolseley Barracks on Friday, honouring the family of Officer Cadet Brett Cameron who died by suicide at the Royal Military College in Kingston, Ont. in 2016.
According to police, officers responded to the 600 block of Tennent Avenue for a, "report of a possible stabbing" around 9 p.m. on Thursday.
Police in Barrie allegedly seized a semi-automatic pistol and drugs during an overnight investigation that resulted in the arrest of three men downtown.
The Ministry of Labour is investigating a workplace incident that claimed the lives of two people in Georgian Bluffs, south of Owen Sound.
A Midland woman is facing several charges after police say she bit an officer while being arrested for an alleged armed confrontation.
A London, Ont. man, who pleaded guilty earlier this year in a harassment case, has been sentenced to two months in jail for criminal harassment of a Windsor, Ont. family.
The Windsor Police Service (WPS) are looking for a witness to a collision between a pedestrian and vehicle in September.
Brian Masse, Windsor-West’s Member of Parliament (MP), stood before the House of Commons on Friday, criticizing the eased hazardous material restrictions at the Ambassador Bridge.
NDP Leader David Eby is vowing to raise British Columbia's speculation and vacancy tax on empty homes if re-elected premier this month.
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One person is dead after a floatplane carrying three people crashed Wednesday evening in a remote inlet on British Columbia's central coast.
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A father in Kelowna is furious after his 13-year-old daughter was brutally beaten on Gyro Beach. He is calling for criminal charges in the devastating attack, which was caught on video by multiple bystanders.
The officer who shot and killed a forcible confinement suspect in Kamloops two years ago was justified in doing so, according to the Independent Investigations Office of B.C.
WestJet has changed its operations at the Lethbridge Airport, and it means there's now only a single daily flight from Lethbridge to Calgary, down from three flights a day, as offered previously.
Archie's Exotic Pet Rescue has been open about six years and, like many other animal rescues, it has seen a surge in surrenders.
It’s almost deadline day for Lethbridge residents interested in becoming members of one of the city’s boards, commissions and committees (BCCs).
A northeastern Ontario jury has started deliberating in Canadian musician Jacob Hoggard's sexual assault trial, we can now tell you what they weren't allowed to hear.
A suspect who accused Thunder Bay police of being responsible for his throat injury actually hurt himself when he swallowed a large amount of drugs.
An outfitter in Kenora, Ont., and two individuals have been fined a total of $9,500 for bear hunting offences, including abandoning a bear they shot and using it as bait to hunt another bear.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people’s basic human right to food.
A soccer game in England on Tuesday night drove a spike in online traffic across the Atlantic to a website launched by the Newfoundland and Labrador government.
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