Stocks on Canada’s largest index churned Friday afternoon, but were still set for a negative ending, and their worst week in nearly a month as heavy losses in oil prices hammered shares of energy companies.
The S&P/TSX Composite Index came off its lows of the afternoon, but was still behind Thursday's close by 80.8 points to close the day and the week at 15,010.78
The Canadian dollar dropped 0.25 cents at 75.56 U.S.
Consumer staples did fare well, however, as Maple Leaf Foods improved 36 cents, or 1.2%, to $29.41, while Restaurant Brands International hiked $1.41, or 2%, to $73.77.
In consumer discretionary stocks, Canadian Tire jumped $2.16, or 1.5%, to $150.89, while Magna International took on 46 cents to $66.45.
In health stocks, Bausch Health Companies triumphed 65 cents, or 2.2%, to $30.83, while Aphria shares gained a dime to $11.71.
Shares of energy companies led laggards on the TSX, with a nine-cent fall, or 1.7% in shares of Ensign Energy Services, to $5.26, followed by Canadian Natural Resources, slouching $2.33, or 6.5%, to $33.46.
Gold took some knocks, too, as Barrick Gold dumped 64 cents, or 3.5%, to $17.45, while Kinross Gold handed over five cents, or 1.4%, to $3.53.
Among materials, First Quantum Minerals turned down 68 cents, or 5.5%, to $11.77, while Agnico Eagle Mines swooned $2.28, or 4.6%, to $47.63.
On the economic slate, Statistics Canada reported that the consumer price index rose 2.4% year over year in October, following a 2.2% increase in September. On a seasonally-adjusted monthly basis, the CPI was up 0.3% in October, after declining 0.1% in September.
Retail sales edged up 0.2% to $50.9 billion in September after a fairly flat August.
The jump was powered by food and beverage stores, while sales were down at gasoline stations.
ON BAYSTREET
The TSX Venture Exchange slumped 0.29 points to 602.15
Eight of the 12 subgroups finished the day higher, as consumer staples gained 1.1%, while consumer discretionary stocks were stronger by 1%, and health-care picked up 0.6%.
The four laggards were weighed most by a 5% plunge in energy prices, while gold lost 2.7%, and materials sank 2.2%.
ON WALLSTREET
Stocks fell on Friday as some of the most popular technology shares were under pressure once again, while a steep drop in oil prices also weighed on equities.
The Dow Jones Industrial Average weakened 178.74 points to 24,285.95
The S&P 500 let go of 17.37 points to 2,632.56
The NASDAQ slumped 33.27 points to 6,938.98
The Dow and S&P 500 posted their worst Black Friday performance since 2010. The NASDAQ had its worst Black Friday since 2011.
For the week, the major indexes all dropped more than 3%. They also had their biggest loss for a Thanksgiving week since 2011.
Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all fell on Friday. These stocks, which make up the popular "FAANG" trade, all fell at least 5.7% through Wednesday's close.
Apple, which has fallen more than 25% since hitting an all-time high earlier this year, dropped 2.5% after The Wall Street Journal reported the company plans to cut prices for the iPhone XR in Japan because it's not selling well.
Oil shares sank -- shares of Concho Resources, EOG Resources and Devon Energy among the biggest decliners.
Shares of Lands' End rose 5% and Etsy picked up 2.8%, while L Brands gained 2%. Overstock surged more than 23%, after its CEO said the company would sell its retail business to focus on crypto.
U.S. markets were closed Thursday for Thanksgiving. Friday's session was abbreviated with the New York Stock Exchange and NASDAQ both due to close early at 1 p.m. ET.
Prices for the benchmark for the 10-year U.S. Treasury were higher, lowering yields to 3.05% from Wednesday’s 3.06%. Treasury prices and yields move in opposite directions
Oil prices plummeted $4.24 to $50.39 U.S. a barrel.
Gold prices slid $4.60 at $1,223.10 U.S. an ounce.
