North American markets finished on a positive note today led by a positive outlook in the technology sector and an improved jobs picture in Canada and the United States. The S&P/TSX composite index rose 19.62 to 8,348.74.
Chipmaker, Intel Corp. raised the midpoint of its second-quarter revenue forecast yesterday, boosting the company’s shares and the tech sector, too, as a result. In Toronto, shares of Sierra Wireless added $1 to $37.40 and Nortel Networks rose 8¢ to $5.17. Celestica gained $1.11 to $25.70.
Lower oil prices resulted in drops for energy shares. Petro-Canada fell 81¢ to $57.79 and Imperial Oil dropped 77¢ to $59.80.
There was good news for Canadian workers as Statistics Canada reported that the economy created 37,000 more full-time jobs in May, pushing the unemployment rate down to 7.2% from 7.3% in April — the lowest rate since July 2001, says Statistics Canada.
The U.S. Labor Department reported that 248,000 jobs were added to the American economy in May, fuelling anticipation of higher interest rates when the U.S. Federal Reserve meets at the end of June.
The Bank of Canada is set to make its next rate announcement next week
The junior S&P/TSX Canadian Venture composite index also finished the week on a positive note, adding 3.28 to 1,584.85.
South of the border, stock also has a good day, boosted by Intel Corp.’s positive outlook , a strong U.S. jobs report and lower oil prices.
The Dow Jones industrial average rose 46.91 points to 10,242.82. The S&P 500 Index gained 5.87 points to 1,122.51. The tech-heavy Nasdaq composite index added 18.36 points to 1,978.62