(RTTNews) - Canadian stocks could give back some recent gains early Friday as commodities have turned moderately lower in early trading. The Bay Street market has surged this week, led by resource stocks, in hopes of a speedier global economic recovery.

Gold has slipped $7.10 to $1,049.20 per ounce, backing off its record levels. Crude oil has slipped 67 cents to $71.02 per barrel.

On the upside, Statistics Canada said employment was up 31,000 last month, driven by large full-time gains. The unemployment rate fell by 0.3 percentage points to 8.4%, the first monthly decline since the beginning of the labor market downturn in the fall of 2008.

In corporate news, MDS Inc. (MDS.TO) said it agreed to sell its Central Labs operation to Czura Thornton for around $8 million.

DragonWave Inc. (DWI.TO) reported second quarter net income of C$6.3 million or C$0.21 per share, compared to a loss of C$1.7 million or C$0.06 per share in the year-ago quarter.

On Thursday, the S&P/TSX Composite Index gained 134.63 points or 1.18% to move at 11,484.51. The market closed up for a fourth straight day at a two-week high.

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Posted in Categories: Canada, Releases, Stocks, USA.

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