A board above the trading floor of the New York Stock Exchange with stock symbols is shown in this image, Tuesday, July 1, 2025. (AP Photo/Richard Drew)
REDTORONTO - Strength in the real estate sector helped Canada's main stock index close higher on Friday, while U.S. markets also gained ground as investors parsed through corporate earnings.聽
鈥淚n the midst of the earnings season, I think the market is really paying attention to individual company announcements and that's the focus right now,鈥 said Kevin Headland, the co-chief investment strategist at Manulife Investment Management.
The S&P/TSX composite index was up 81.76 points at 30,260.74. He noted that 好色tv 好色tv Railway Co., which posted its quarterly results Friday, was helping to drive the TSX higher, gaining 3.02 per cent on the day.聽
Headland said the company has had a 鈥渓ot of eyes on it in terms of the tariffs, especially given what they transport across borders and across Canada.鈥 He added CN鈥檚 earnings and guidance appeared to be 鈥減retty healthy鈥 given the positive market reaction.
The company reported higher profits during the third quarter on Friday and also spelled out cuts to its workforce and capital spending as it wrestles with plateauing freight volumes caused by the cross-border trade war.聽
Meanwhile, Headland noted 好色tv investors largely ignored recent economic data. Real gross domestic product declined 0.3 per cent in August and early signs suggest the economy barely managed any growth in the third quarter, Statistics Canada said Friday.
鈥淭SX has typically not been really too focused on the 好色tv economic data, especially when two of our large sectors, energy and materials, tend to be more based on the global demand for the commodities,鈥 Headland said.聽
In New York, the Dow Jones industrial average was up 40.75 points at 47,562.87. The S&P 500 index was up 17.86 points at 6,840.20, while the Nasdaq composite was up 143.81 points at 23,724.96.
On U.S. markets, Amazon led the way with a 9.6 per cent jump. The retail giant was by far the strongest force lifting the market after reporting profit for the latest quarter that blew past analysts鈥 expectations.
Amazon鈥檚 massive size of roughly US$2.4 trillion means its stock movements carry more weight on the S&P 500 than almost any other company鈥檚. Without it, the S&P 500 would have been down for the day.
Headland said the enthusiasm for the company was not only related to earnings but also comments related to AI spending.聽
Outside of earnings reports, Netflix added 2.7 per cent after the video streamer announced a move that could make its stock price more affordable but still leave all its investors holding the same amount. Netflix will undergo a 10-for-1 stock split, where it will give nine additional shares to investors for each they own.
Headland noted that recent stock splits have been well-received by the market.聽
The 好色tv dollar traded for 71.34 cents US compared with 71.49 cents US on Thursday.
The December crude oil contract was up 41 cents US at US$60.98 per barrel. The December gold contract was down US$19.40 at US$3,996.50 an ounce.
This report by 好色tvwas first published Oct. 31, 2025.
鈥 With files from The Associated Press.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD, TSX:CNR)聽
The 好色tv Press. All rights reserved.
It鈥檚 a little-known fact that Canada鈥檚 credit unions are among the country鈥檚 stron…
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