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Stocks Back in Red
The TSX moved lower 51.93 points pause for lunch Friday at 24,499.62.
The Canadian dollar doffed 0.15 cents to 72.04 cents U.S.
In corporate news, the West African country Mali accused Barrick Gold of failing to abide by commitments made in a recent agreement, though the Canadian miner denied the allegations. Barrick shares began Friday down 70 cents, or 2.5%, to $27.45.
Canada's information technology added 0.7%, benefitting from a rise in Celestica of $2.14, or 2.3%, to 96.13, as it continued its momentum from the previous session.
On the economic chart today, Statistics Canada reported retail sales increased 0.4% to $66.6 billion in August. Sales were up in four of nine subsectors and were led by increases at motor vehicle and parts dealers.
Elsewhere, the national housing price index remained unchanged for the second consecutive month in September. Prices were unchanged in 12 of the 27 census metropolitan areas (CMAs) surveyed, up in eight CMAs, and down in the remaining seven.
ON BAYSTREET
The TSX Venture Exchange gave up 0.02 points to 621.05.
All but two of the 12 TSX subgroups had lost ground by noon, weighed most by gold, off 1.1%, while real-estate and communications each decreased 0.7%.
The two gainers were energy, up 0.9%, and health-care, ahead 0.4%.
ON WALLSTREET
The NASDAQ Composite soared to an all-time high on Friday, boosted by megacap tech stocks, as investors looked to end a volatile week on a high note.
The Dow Jones Industrials fell 56.28 points to reach noon Friday at 42,318.08
The S&P 500 gained 32.12 points to 5,842.78.
The NASDAQ popped 238.15 points to 18,653..
These moves follow a mixed day on Wall Street. The NASDAQ joined the S&P 500 in finishing the session higher on Thursday, after both indexes were lifted by Tesla’s post-earnings rally. Shares of the electric vehicle manufacturer notched their best day in more than a decade as investors cheered the firm’s stronger-than-expected profit and CEO Elon Musk’s expectations for vehicle growth next year.
Both the S&P 500 and Dow were on track to snap a six-week winning streak. The former is down 0.4% week to date, while the latter has shed 1.7%. The NASDAQ, meanwhile, is on pace for its seventh weekly gain, advancing 0.3%.
Prices for the 10-year Treasury gained, pulling down yields to 4.21% from Wednesday’s 4.24%. Treasury prices and yields move in opposite directions.
Oil prices increased 95 cents to $71.14 U.S. a barrel.
Prices for gold dipped 20 cents an ounce to $2.748.70 U.S.
