With U.S. markets closed for Martin Luther King Jr. Day, action on the Toronto Stock Exchange will likely be muted Monday.

Toronto stocks finished the week on a positive note. The S&P/TSX composite index closed up 48.02 points, or 0.53%, to 9,057.16. Volume was 254 million shares.

For the week, the benchmark index rose 50.94 points.

After markets closed Friday, Alcan warned that its fourth-quarter operating profits will be 30% lower than what the aluminum producer earned in the third quarter.

The junior S&P/TSX Venture composite index rose 7.74 points, or 0.43%, to 1,792.12.

In New York, the Dow Jones industrial average rose 52.17 points to 10,558. The Nasdaq composite index was up 17.35 points at 2,087.91, while the broadly based S&P 500 rose 7.07 points to 1,184.52.

For the week, the Dow slipped 0.43%. The S&P 500 dipped 0.14% and the Nasdaq edged down 0.03%.

U.S. markets are closed Monday for Martin Luther King Day.