Canada's main stock index eked out another record high on Friday as losses in the technology sector were offset by gains in the energy sector. The S&P/TSX composite index closed up just 3.
Canada's main stock index eked out another record high on Friday as losses in the technology sector were offset by gains in the energy sector.
The energy sector was the best performer, gaining 1.32 per cent. The price of crude oil hit US$84 a barrel Friday after a brief sell-off earlier this week. Crude has gained more than 11 per cent this month alone and more than 70 per cent since the start of the year. “I think that's really catching the attention of the investors, who it feels like had really forgotten about the energy stocks the last few years,” he said. “It's a sector that's doing very well, but it's very under-owned. And people are starting to come back to it.”
“Technology's an area that's had a pretty good run the last few weeks, but it looks like it's under pressure today and that's taken down Shopify and some of the other Canadian names,” he said.In New York, the Dow Jones industrial average was up 73.94 points at 35,677.02. The S&P 500 index was down 4.88 points at 4,544.90, while the Nasdaq composite was down 125.50 points at 15,090.20.Canadian telecom giant Rogers Communications Inc.
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