Stocks in Toronto stumbled to the finish Friday, with energy and other resources weighing things down.
The TSX continued its slide, docking 91.18 points to conclude Friday at 20,515.24, for a loss on the week of 98 points, or 0.48%.
The Canadian dollar backed off 0.06 cents to 74.21 cents U.S.
Among those negative subgroups, energy sported with biggest shiners, as Nuvista lost 60 cents, or 5.3%, to $10.81, while Enerplus fell $1.17, or 5.2%, to $21.39.
Materials also had their troubles, with Agnico Eagle Mines subsiding $4.11, or 6.2%, to $62.24, while Lithium Americas diving $2.21, or 6.5%, to $31.76.
Gold suffered, mostly, Yamana Gold, sliding 16 cents, or 2.2%, to $7.19, while Eldorado Gold dumped 23 cents, or 1.9%, to $11.80.
Health-care issues tried to even things out, as Bausch Health Companies marched ahead 67 cents, or 5.6%, to $12.72, while Canopy Growth inched up eight cents, or 2.4%, to $3.36.
In utilities, Brookfield Infrastructure Partners gathered 71 cents, or 1.5%, to $47.01, while Emera Corp. took on 72 cents, or 1.3%, to $54.81.
Communications were also in the green, with Cogeco Communications up $1.41, or 1.9%, to $74.05, while TELUS grabbed 51 cents, or 1.9%, to$27.80.
On the economic slate, Statistics Canada’s industrial product price index increased 0.4% month over month in January and rose 5.4% year over year, while its raw materials price index edged down 0.1% month over month in January and was 1.2% higher compared with January 2022.
What is more, foreign investment in Canadian securities accelerated in December and reached $21.2 billion, the largest investment since August. At the same time, Canadian investors reduced their holdings of foreign securities by $2.3 billion after buying $14.7 billion in November.
ON BAYSTREET
The TSX Venture Exchange squeezed ahead 0.56 points to 627.78. and actually gained over the last few sessions, 14 points, or 2.3%.
Seven of the 12 subgroups moved higher, health-care jumping 1.5%, utilities taking on 1.1%, and communications better by 1%.
The five laggards were weighed most by energy, down 3%, materials, skidding 1.6%, and gold, losing 1.3% of its luster.
ON WALLSTREET
U.S. stocks were mixed on Friday as stubbornly high inflation and a rebound in rates continue to weigh on investor sentiment.
The Dow Jones Industrials prospered 129.84 points to close Friday and the week at 33,826.69. The 30-stock index rallied from lows of the day boosted by shares of Amgen --- up on the day 2.7%, and United Health, which gained 2.4%
The S&P 500 retreated 11.32 points to 4,079.09.
The NASDAQ Composite moved backward 68.56 to 11,787.27.
Stocks are trending down for the week. The Dow is down 0.9% for the week. The 30-stock index is on pace for its third negative week in a row — a first since September. The NASDAQ is down 0.02% for the week. Meanwhile, the S&P 500 is down 0.9%.
Energy was the biggest laggard across indexes. Albemarle doffed 9.7% and Devon Energy lost 4.3%, dragging down the S&P 500.
Stocks are mixed on the week. The Dow ended down 0.1% for the week, its third negative week in a row — a first since September. The S&P 500 has shed 0.3% for the week, its second negative week in a row. The NASDAQ rose 0.6% on the week.
Investors continue to worry about how the economy and equities will hold up as the Federal Reserve hikes rates to tame stubbornly high inflation. In a Friday speech, Federal Reserve Governor Michelle Bowman said there’s a long way to go before the central bank reaches its target of 2% inflation.
The moves came after major averages shed more than 1% on Thursday, after the U.S. Labor Department said the producer price index — an inflation metric that tracks wholesale prices — rose 0.7% last month. That was more than economists expected.
Prices for the 10-year Treasury inched higher, lowering yields to 3.81% from Thursday’s 3.86%. Treasury prices and yields move in opposite directions.
Oil prices decreased $2.21 cents to $76.28 U.S. a barrel.
Gold prices fell $1.10 to $1,850.70 U.S. an ounce.
