Canada's main stock index slipped on Wednesday, weighed by energy stocks, as data showed inflation rate came in below expectations in July after price growth slowed broadly across the goods and services sectors.
The TSX remained negative 7.08 points to greet noon at 16,618.98.
The Canadian dollar snoozed 0.05 cents to 75.94 cents U.S.
The largest percentage gainer on the TSX was Canfor Corp, which jumped $1.54, or 8.9%, to $18.77, after RBC raised its target price on the stock.
Wood-based panel maker Norbord rose $1.99, or 4.4%, to $46.90, the second biggest percentage gainer.
B2Gold fell 86 cents, or 9.7%, the most on the TSX, to $7.98, followed by Torex Gold Resources, down $1.33, or 6.1%, to $20.47.
In the economic docket, Statistics Canada reported June’s wholesale sales jumped 18.5% to $62.1 billion, building on a 5.8% gain in May.
The Consumer Price Index (CPI) rose 0.1% on a year-over-year basis in July, down from a 0.7% increase in June. On a seasonally adjusted monthly basis, the CPI fell 0.1% in July, following a 1.0% increase in June.
Prime Minister Justin Trudeau is weighing sweeping changes to the country's social welfare system and a series of economic measures that will align Canada with ambitious climate goals.
ON BAYSTREET
The TSX Venture Exchange hesitated 12.14 points, or 1.6%, to 738.86.
Seven of the 12 TSX subgroups were in the minus category by lunch hour, with gold trailing 2.9%, materials slumping 1.8%, and health-care off 0.7%.
The five gainers were led by industrials and financial stocks, each better by 0.6%, and communications, up 0.4%.
ON WALLSTREET
Stocks rose on Wednesday, with the S&P 500 notching a fresh all-time high, as Apple reached a record milestone and Target led the broader retail sector amid strong quarterly results.
The Dow Jones Industrials remained ahead of the game 89.61 points to 27,867.68.
The S&P 500 added 9.47 points to Tuesday’s all-time high, climbing to 3,399.09.
The NASDAQ added 31.26 points to Tuesday’s all-time high, at 11,242.11.
Apple rose more than 1% as the tech giant became the first U.S. company to reach a market cap of $2 trillion.
With that milestone, Apple officially doubled its valuation in just over two years. In 2020 alone, Apple has surged nearly 60% and was one of the stocks leading the market off its coronavirus lows.
Target also contributed to Wednesday’s gains, rising more than 11% after the retailer reported soaring profit and sales last quarter. Digital sales increased by 197% from a year ago. The gains in Target led other retail stocks higher. Macy’s, Nordstrom and Big Lots were all up more than 1%.
Lowe’s, meanwhile, shares gained 0.6% after the home improvement retailer reported a 30% surge in second-quarter revenue.
Coronavirus cases in the U.S. are trending lower, but officials are cautious as students begin returning to school and college campuses.
Some colleges have been forced to change to all online learning because of outbreaks.
Investors are still hoping for a second coronavirus stimulus bill from Washington. The Federal Open Market Committee will publish its meeting minutes from its July meeting on Wednesday at 2 p.m. ET.
Prices for the 10-Year Treasury lost a bit of ground, raising yields back to Tuesday’s 0.66%. Treasury prices and yields move in opposite directions
Oil prices dropped three cents at $42.86 U.S. a barrel.
Gold prices ditched $44.70 to $1,968.40 U.S. an ounce.
