Toronto stocks are modestly higher in light trading. At midday, the S&P/TSX composite index is up 10 points at 8,314. Traders are getting ready for Christmas and are not in the mood to be in the market.

Traders are expected to largely shrug off news that Canada’s annual inflation rate in November was 1.6%, matching October’s level.

Quadruple witching day is adding to market volatility.

Volatility is expected to affect the market due to the simultaneous expiry of four different types of options and futures contacts, known as “quadruple witching.”

Energy stocks are off 0.32%, after gaining more than 3% in Thursday’s session.

Shell Canada is down 1.22%, Talisman Energy, is off 0.65%, and Imperial Oil has fallen 0.54%, at $57.12.

The health-care group is down 1% with Angiotech Pharmaceuticals Inc. off $1.01 at $61.29 and CML Healthcare down $1.10 at C$44.90.

The industrials group is down 0.07% but Bombardier Inc. bucked the trend, rising after Air Canada said on Friday it will buy a fleet of planes from the Canadian company and Brazil’s Embraer. Bombardier shares are up 6¢ to $5.37.

Tech stocks are up 0.37%, led by graphics chipmaker ATI Technologies Inc. The company says strong growth in desktop computer products helped it post record revenues in the first quarter. Its shares are up 54¢ to $20.

ATI reported revenues of US$469.7 million, up 40% from the first quarter of last year. ATI made a profit of US$47.4 million, up from the US$7.3 million it made a year earlier.

The junior S&P/TSX venture composite index is up 2 points at 1,656.

In New York, an upgrade on aluminum producer Alcoa has helped add to the three days of increases that sent the Dow to its highest levels in more than a year.

The blue-chip Dow Jones industrial average is up 12 points to 10,250. The broader S&P 500 is down 2 points at 1,087.

The tech-heavy Nasdaq composite index is off 8 points at 1,947.