TSX Rallies as Fed Rate Hopes Rise on Weak US Jobs Report

Canada's main stock index, the TSX, opened higher on Friday after a weaker-than-expected US jobs report bolstered hopes that the Federal Reserve will hold rates steady later this month.

The TSX charged ahead by 282.59 points to begin the week's last session at 35,437.35, but was still down 363 points, or 1%, on the week.

Prime Minister Mark Carney said Canada will fast-track the approval process for a new proposed crude oil export pipeline to the West Coast, a crucial part of his bid to diversify the economy away from the US.

In contrast, the Dow Jones Industrials cruised 305.26 points higher to 51,231.82, with tech stocks rallying as risk-taking resumed on Wall Street.