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Baystreet Staff
- Wednesday, November 25, 2020
TSX Positive by Finish
Salesforce, Slack in Focus
Equities in Toronto ended a rollercoaster of a session Wednesday by finishing doggedly in the green, on consumer and energy stock strength.
The TSX managed gains of 38.82 points to close Wednesday’s session at 17,313.07.
The Canadian dollar eased 0.01 cents to 76.94 cents U.S.
Tech led the parade of winning stocks, as Sierra Wireless accumulated $4.18, or 28.7%, to $18.77, while Docebo gathered $4.07, or 6.7%, to $64.56.
Among gold issues, Wesdome Gold gained 34 cents, or 3.4%, to $10.37, while Alamos Gold collected 42 cents, or 4.2%, to $10.54.
In other resources, Dundee Precious Metals gained 31 cents, or 4.1%, to $8.11, while SSR Mining triumphed 68 cents, or 3.1%, to $23.04.
Consumer discretionary issues were hit hardest, with Canada Goose Holdings sprawling $4.03, or 8.1%, the most on the TSX, to $46.17, after brokerage BTIG downgraded the apparel maker's stock. Aritzia shares tumbled 83 cents, or 3.4%, to $23.44.
Energy stocks also fell below the breakeven line as Prairiesky Royalty doffed 39 cents, or 3.5%, to $10.92, while Imperial Oil sank 52 cents, or 2.1%, to $24.39.
In financials, Brookfield Asset Management dumped $2.20, or 3.9%, to $53.75, while Manulife Financial lost 36 cents, or 1.6%, to $22.22.
ON BAYSTREET
The TSX Venture Exchange added 11.35 points to finish Wednesday at 746.30.
Seven of the 12 TSX subgroups remained negative by the close, as consumer discretionary stocks gave back 1.3%, while financial and energy stocks each dropped 0.7%.
The five gainers were paced mostly by information technology, marching 1.9%, gold, brightening 1.6%, and materials improving 1.2%.
ON WALLSTREET
The Dow Jones Industrial Average fell on Wednesday, taking a breather after reaching a significant milestone, while traders pored over disappointing unemployment data.
The 30-stock index shed 173.77 points to close the day at 29,872.47.
The S&P 500 skidded 5.76 points to 3,629.65.
The NASDAQ recovered 57.08 points to 12,094.40.
The blue-chip Dow broke above 30,000 for the first time on Tuesday, rallying more than 400 points. The Dow was also on pace for its biggest monthly gain since 1987, up more than 13%.
Trading volumes were lighter than usual ahead of the Thanksgiving holiday. U.S. markets will be closed for the Thanksgiving holiday on Thursday and will have a short session on Friday.
On the macroeconomic front, U.S. weekly jobless claims totaled 778,000 for the week ended Nov. 21, ahead of the 733,000 expectation from economists surveyed by Dow Jones and up from 742,000 the previous week.
Prices for the 10-Year Treasury faded, raising yields to 0.89% from at Tuesday’s 0.88%. Treasury prices and yields move in opposite directions.
Oil prices strengthened 89 cents to $45.80 U.S. a barrel.
Gold prices removed 20 cents to $1,809.10 U.S.
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