Stocks on Bay Street were lower on Thursday morning, as sentiment continued to be negative on concerns over political unrest between the United States and China while an increase in oil prices fueled buying in energy shares.
TSX Composite index was down 11.97 points, or 0.07%, at 16,993.85.
A strike at Canada's biggest railroad, Canadian National Railway entered its third day on Thursday, as the company said talks were
continuing with workers, assisted by federally appointed mediators.
On the economic front, Canada lost 22,600 jobs in October, driven by a decline in hiring in education and health care as well as the trade, transportation, utilities, natural resources and mining sectors, according to a report from payroll services provider ADP released on Thursday.
The Canadian dollar meanwhile inched 0.17 cents higher to 75.34 cents U.S.
December gold was off $5.90, or 0.4%, at $1,468.20 an ounce on Comex, after the contract ended virtually unchanged on Wednesday.
West Texas Intermediate crude for January delivery rose 40 cents, or 0.7%, to $57.41 a barrel.
ON BAYSTREET
The TSX Venture Exchange was up 3.89 points at 528.03.
Three of the 12 Toronto subgroups were positive, with health-care surging 3.52%, energy stronger by 0.50% and consumer staples better by 0.10%.
On the downside, gold was slipping 0.52%, telecoms were off 0.49% and real estate stocks were down 0.35%.
ON WALLSTREET
Stocks were slightly in the red Thursday as investors reacted to reports that China's top trade official has invited U.S. negotiators to take part in fresh talks and that a round of U.S. tariffs scheduled to go into effect next month could be postponed.
The Dow Jones Industrial Average was down 28 points, or 0.1%, to 27,792.68, the S&P 500 was off 0.12% and the Nasdaq were down by 0.09%.
Chinese Vice Premier Liu He reportedly invited U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing for further negotiations, The Wall Street Journal reported, citing people familiar with the matter.
A new round of U.S. tariffs is scheduled to go into effect on Dec. 15, but the South China Morning Post reported those likely will be postponed.
In corporate news, TD Ameritrade surged 15.3% to $47.70 following a report that discount brokerage rival Charles Schwab was eyeing the company for a takeover. Fox Business pegged the value at $26 billion, citing sources. At that price, it would be a premium of roughly 18% to Ameritrade’s market capitalization.
Macy's slipped 1% to $14.87 after the retail giant posted stronger-than-expected third-quarter earnings, but said same store sales fell notably and trimmed its full-year profit guidance.
Tesla was rising 1.4% to $357.22 in anticipation of the debut of its electric pickup truck, which is expected to be unveiled at an event Thursday evening in Los Angeles.
The Philadelphia Fed manufacturing index in November rose to a seasonally adjusted reading of 10.4 from 5.6 in October, ahead of analysts' expectations of a 7 reading.
Initial claims for state unemployment benefits were flat at a seasonally adjusted 227,000 for the week ended Nov. 16, the U.S. Labor Department said, the highest level since June 22. Data for the prior week was revised to show 2,000 more claims received than previously reported.
The 10-year Treasury note yield rose 1.5 basis points to 1.753%.
