Bay Street In Bull Market Run -- Canadian Commentary

(RTTNews) - Canadian stocks roared toward bull market territory Friday, as resource producers benefited from higher metals prices.

The S&P/TSX Composite Index was up 89.79 points, or 0.64 percent, to 14,226.78, and is up about 20 percent from January lows.

Alimentation Couche-Tard Inc (ATD.b.TO) and Japan's Seven & i Holdings Co Ltd is in a bidding war to acquire U.S. convenience store retailer CST Brands Inc.

Crude oil futures fell Friday, extending weekly losses after a dismal U.S. report raised demand concerns.

WTI oil futures settled at $48.62/bbl on Nymex, down 55 cents, or 1.1%

In economic news, U.S. employment edged up by just 38,000 jobs in May compared to economist estimates for an increase of about 158,000 jobs.

The much weaker than expected job growth in May reflected the smallest increase in employment since September of 2010.