The Canadian stock market trended upward for the second consecutive session on Friday, buoyed by largely stronger-than-expected U.S. labour market data, which reassured investors that the economic situation may not be as bleak as previously feared. The S&P/TSX Composite Index advanced by 66 points, or 0.3%, in the last session to settle at 20,938.
Despite weakness in industrials and consumer stocks, healthy gains in most other main market sectors, including technology, real estate, and utility, kept investors optimistic. However, the main TSX index slipped by 21 points in the first week of 2024, ending a three-week-long winning streak.
Top TSX Composite movers and active stocks
Precision Drilling (TSX:PD) jumped 5.3% to $73.28 per share, making it the top-performing TSX stock for the day. This rally in PD stock came after the energy sector-focused contract drilling firm provided some key financial and operational updates.
The…
