TORONTO – Widespread gains helped push Canada’s main stock index higher Friday, while U.S. stock markets also rose after an encouraging U.S. inflation report.
Stocks ended up after a bumpy week that saw tech stocks retreat on some days as markets start to pull away from a long bullish phase for the sector, said Angelo Kourkafas, senior investment strategist at Edward Jones.
“The key highlight for not just today, this week, but also last week has been this great rotation out of the mega-cap technology names into more value-style investments, small-cap stocks.”
On Friday, stock gains were widespread though after an inflation read in the U.S. showed continued declines.
“The driver was the Fed’s preferred inflation measure … that confirmed this inflation trend and also supported market expectations…
