It proved a negative finish to a short week for equities in Toronto, as resource stocks displayed uncertainty from which they could not quite recover by the closing bell.
The S&P/TSX Composite Index finished the day down 50.84 points – finding their way off lows of more than seven months -- to 15,027.16
The Canadian dollar surged 0.55 cents to 77.61 cents U.S.
Markets were closed Monday for Canada Day; in the States, Tuesday, for Independence Day
Gold took the worst pounding on the day, as Goldcorp got knocked down 51 cents, or 3.1%, to $16.09, while Barrick Gold surrendered 59 cents, or 2.9%, to $19.75.
Materials also had a rough time of it, as Tahoe Resources stumbled 68 cents, or 9.5%, to $6.51, while Agnico Eagle Mines fell 99 cents, or 1.7%, to $56.06.
Among energy stocks, Encana Corp. faded 25 cents, or 2.3%, to $10.79, while Crescent Point Energy crumbled 22 cents, or 2.3%, to $9.18.
Tech stocks, on the other hand, went the other way, with BlackBerry galloping 18 cents, or 1.4%, to $12.77, while Constellation Software gaining $6.19 to $666.18.
Industrials did their part, as CCL Industrials triumphed $1.04, or 1.7%, to $62.47, while Air Canada got lift of 55 cents, or 2.9%, to $19.75.
On the economic slate, Statistics Canada reported the economy created 45,000 jobs in June, bringing the unemployment rate down 0.1 percentage points to 6.5%.
Employment rose by 45,000 in June, mostly in part-time work. The unemployment rate was 6.5%, down 0.1 percentage points from the previous month.
Also, Western University’s IVEY Purchasing Managers’ Index ballooned to 61.6 for June from 53.8 in May, and 51.7 in June 2016. Any reading over 50 indicates purchasing managers are increasing their purchases.
ON BAYSTREET
The TSX Venture Exchange dropped 4.61 points to close the week at 755.22.
Nine of the 12 TSX subgroups were lower on the day, as gold stepped back 2.6%, materials lost 1.9%, and energy docked 1.7%.
Among the three gainers, information technology was up 0.9%, while industrials and consumer discretionaries each took on 0.2%.
ON WALLSTREET
U.S. stocks closed higher on Friday on the back of stronger-than-expected employment data.
The Dow Jones Industrials climbed 94.3 points to finish the week at 21,414.34, with McDonald's contributing the most gains.
The S&P 500 gained 15.43 points to 2,425.18, with information technology leading advancers.
The NASDAQ grew 63.62 points, or 1%, to 6,153.08.
The major indexes eked out weekly gains despite the tech sector facing pressure from rising interest rates. Tech has been the best-performing sector this year, rising 15.6% Sovereign bond yields have spiked around the world amid hawkish rhetoric from major central banks.
Heading into next week, investors will watch out for releases of major quarterly reports. Citigroup, Wells Fargo and JPMorgan Chase are all scheduled to report second-quarter results.
The U.S. Labor Department said the economy added 222,000 jobs in June. Economists expected an increase of 179,000. The unemployment rate ticked higher to 4.4% from 4.3%. Wage growth — which is viewed as a measure of inflation — rose by just 0.2%, however.
Prices for the benchmark 10-year Treasury note lost strength, raising yields to 2.39% from Thursday’s 2.37%. Treasury prices and yields move in opposite directions.
Oil prices gave back $1.18 to $44.34 U.S. a barrel
Gold prices faded in price $11.40 to $1,211.90 U.S. an ounce.
