Canada Stocks Gain 65 Pts Today, Having Spent Most of Session In Negative Territory

Last Updated: Friday, January 14, 2022 4:14 PM | MT Newswires

After getting back to positive with about an hour of trading left on Friday -- having been down near 100 points in the early minutes of the session -- Canada's main stock market, the Toronto Stock Exchange, eventually closed up 65 points near the 21,360 level, buoyed by a higher oil price.

But it may be hard for the TSX to build on this momentum on Monday, with the US stock market closed then for the Martin Luther King Jr. Day holiday.

Among heavyweight sectors today, Energy was up 1.3% and Financials was up near 0.3%; But Materials was down 0.5%

Of commodities, gold ended lower on Friday even as the dollar and bond yields rose as the United States reported retail sales fell more than expected in December. Gold for February delivery closed down $4.90 to US$1,816.50 per ounce.

But West Texas Intermediate (WTI) crude oil rose, climbing to a two-month high despite reports that China will tap its strategic reserves in a bid to check prices. WTI crude for February delivery closed up $1.70 to US$83.82 per barrel, Marketwatch reported. March Brent crude, the global benchmark, was last seen up $1.55 to US$86.02 while Western Canada Select was up $3.27 to US$71.02 per barrel.

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