Stocks were in negative country midday Thursday, as retreats in the resource sector counteracted gains in health and energy stocks.
The S&P/TSX Composite Index demurred 19.56 points to greet noon Thursday at 15,124.43
The Canadian dollar found its way upward 10 cents to 78.49 cents U.S.
Gold stocks dulled in price, primarily giant Barrick Gold, down 10 cents to $20.08, while Kinross Gold slid 13 cents, or 2.6%, to $4.84.
Telecoms also got bruised, as TELUS Corporation lost 40 cents to $44.39, while BCE Inc. slid 34 cents to $57.67.
In the consumer discretionary sector, BRP Inc. fell back 71 cents, or 1.8%, to $39.05, while Gildan Activewear skidded 56 cents, or 1.4%, to $38.28.
Valeant Pharmaceuticals helped pull health-care concerns along, picking up 40 cents, or 1.9%, to $21.94.
Energy stocks did their bit as well by Thursday noon, as Cenovus took on four cents to $9.26
On the economic scene, Statistics Canada said Toronto and Vancouver were largely responsible for a 0.7% monthly rise in new house prices in Canada in May.
ON BAYSTREET
The TSX Venture Exchange surrendered 3.86 points to 754.62
Eight of the 12 TSX subgroups went south by noon hour, as gold fell 1.1%, telecoms declined 0.8%, and consumer discretionary skidded 0.3%.
The four gainers were led by health-care, up 0.2%, while energy and financials each took on 0.1%.
ON WALLSTREET
Equities south of the line traded slightly higher on Thursday as retailers rose, led by Target.
The Dow Jones Industrials improved 32.05 points on Wednesday’s all-time high to 21,564.19, with Wal-Mart, Goldman Sachs and Apple contributing the most gains.
The S&P 500 gained 4.25 points to 2,447.50, with Target among the best performers.
The NASDAQ added 8.17 points to 6,269.34, as shares of Snap jumped 4%.
Shares of Target climbed 2.7% after the company said it expects "modest increase" in second-quarter comparable-store sales, a metric closely watched by Wall Street for retail stocks. Target added it expects second-quarter earnings to come in above the high end of the forecast.
Shares of Wal-Mart, Kohl's, Costco and Macy's rose as well.
Brick-and-mortar retailers have been hit hard this year. In 2017, the XRT has fallen more than 11%. Macy's, meanwhile, has shed approximately 40%.
Wall Street also looked ahead to the start of earnings season. JPMorgan Chase, Wells Fargo and Citigroup are set to report Friday morning.
In economic news, the U.S. producer price index rose 0.1% in June. Economists expected the index to remain flat. Weekly jobless claims, meanwhile, came in just above expectations at 247,000.
Wall Street also set its sights on Washington. Federal Reserve Chair Janet Yellen was set to testify in front of Congress for the second straight day. Her prepared remarks from Wednesday ignited a rally in the U.S. stock market, which sent the Dow to a record close.
Prices for the benchmark 10-year Treasury note slipped Thursday, lowering yields to 2.36% from Wednesday’s 2.33%. Treasury prices and yields move in opposite directions
Oil prices gained 58 cents to $46.07 U.S. a barrel
Gold prices slid $1.60 to $1,217.50 U.S. an ounce.
