Canada's main stock index edged lower at the open on Thursday, despite gains in technology shares, and as the Canadian dollar weakened against the greenback, while investors looked for renewed signs of further rate cuts by the Bank of Canada.
The TSX dipped 14.58 points to open Thursday at 30,093.09
The Canadian dollar weakened 0.08 cents at 71.71 cents.
ON BAYSTREET
The TSX Venture Exchange sagged 1.68 points to 956.49.
Eight of the 12 subgroups lost ground, weighed most by gold, off 0.6%, materials, falling 0.4%, and financials, skidding 0.3%.
The four gainers were led by consumer discretionary stocks, up 0.7%, while energy and industrial stocks each gathered 0.2%.
ON WALLSTREET
The S&P 500 was relatively unchanged on Thursday as investors tried to shrug off concerns tied to a U.S. government shutdown that had entered its second day.
The Dow Jones Industrial Index lost 77.25 points to 46,363.85.
The much-broader index deleted 1.41 points to 6,709.79, after Wednesday’s record high,
The tech-heavy NASDAQ climbed 71.84 points to 22,827, ed by a gain in Nvidia shares, which also reached an all-time high, as investors continue to pile into the artificial intelligence giant.
The three major U.S. stock indexes closed in the green on Wednesday on hopes that a federal funding lapse would be brief and therefore limit any serious effects on the U.S. economy.
The S&P 500 notched its 29th closing high of the year, finishing above the 6,700 threshold for the first time, after the index hit a new all-time intraday high earlier in the day. The Dow also saw a record close in the prior session.
An economic data blackout during the shutdown this week is also top of mind, as the September non-farm payrolls report will not be released on Friday given the Labor Department’s pause on virtually all activity.
Prices for the 10-year Treasury dipped, raising yields to 4.11% from Wednesday’s 4.10%. Treasury prices and yields move in opposite directions.
Oil prices shed 25 cents to $61.53 U.S. a barrel.
Gold prices dished off $1.80 to $3,895.70 U.S. an ounce.
