Canada’s main stock index rallied out of early losses on Friday as investors overcame anxieties following the previous session’s sharp technology-driven selloff and assessed fresh insights from key employment data. Markets were also evaluating Prime Minister Mark Carney’s second federal budget, which proposes directing potential windfall oil revenues toward infrastructure and productivity-enhancing projects over the next five years. The plan aims to maintain fiscal discipline while reducing Canada’s economic dependence on the United States. The government also lowered its projected budget deficits through fiscal 2030/31 and indicated that economic growth in 2027 is expected to be slightly weaker than previously forecast.
Meanwhile, the NASDAQ moved higher as bargain hunters stepped into semiconductor stocks after a steep decline pushed the tech-heavy index into correction territory. The so-called “Magnificent Seven” technology giants collectively lost roughly US$1 trillion in market value during Thursday’s selloff, but all were trading in positive territory on Friday as investors returned to the sector.
| TSX | 35,789.09 | +183.82 |  |
| TSXV | 822.03 | +15.71 | |
| CSE | 130.92 | +5.84 | |
| DJIA | 51,285.73 | -237.33 |  |
| NASDAQ | 24,579.42 | +264.43 | |
| S&P 500 | 7,376.86 | +23.13 | |
The Canadian dollar traded for 70.78 cents US compared to 71.44 cents US on Thursday.
US crude futures traded $0.77 lower at US$89.75 a barrel, and the Brent contract lost US$1.11 to US$197.18 a barrel.
The price of gold was down US$39.75 to US$4,063.80.
In world markets, the Nikkei was down 3,643.13 points to ¥57,434.77, the Hang Seng was down 315.12 points to HK$24,481.86, the FTSE was down 108.72 points to ₤10,673.94, and the DAX was down 530.89 points to €25,794.12.
