Canada's main stock index fell on Thursday as a jump in monthly jobless claims raised concerns over the country's economic recovery, while delays in rollouts of coronavirus vaccines also hit sentiment.
The S&P/TSX Composite slid 80.36 points by noon Thursday to 18,294.42.
The Canadian dollar inched down 0.02 cents to 78.72 cents U.S.
The largest percentage gainers on the TSX were Crescent Point Energy, which jumped 56 cents, or 13.3%, to $4.74, and Aphria, which rose 4.8%.
Canfor regained 55 cents, or 2.1%, to $26.59, while Ballard Power, down $1.87, or 4.6%, to $38.78.
On the economic front, Statistics Canada said its new housing price index rose at its fastest pace since October, increasing 0.7% nationally in January.
Canada's COVID-19 vaccination campaign started on the same day in December as the United States, but it now lags dozens of countries, including its southern neighbor, and Prime Minister Justin Trudeau is feeling the pressure.
ON BAYSTREET
The TSX Venture Exchange lost 19.93 points, or 1.8%, to 1,064.42.
All but one of the 12 TSX subgroups were lower as health-care slumped 1.7%, while consumer discretionary and real-estate each gave up 0.8%.
Only consumer staples gained ground, and only 0.1% at that.
ON WALLSTREET
U.S. stocks slid on Thursday as investors were discouraged by a worse-than-expected jobless claims reading as well as a gloomy forecast from Walmart.
The Dow Jones Industrials lost 253.34 points to 31,359.68,
The S&P 500 skidded 35.68 points to 3,895.65.
The NASDAQ Composite tumbled 183.08 points, or 1.3%, to 13,782.42, as investors continued to rotate out of high-flying tech.
Walmart shares dropped nearly 6% after its fourth-quarter earnings fell short of Wall Street estimates. The big box retailer also sees sales growth slowing this year as the pandemic momentum ebbs.
Shares of Apple fell another 2.4%. The tech giant are down 4.6% so far this week as investors take some profits in the Big Tech stocks that have led the market back to a record. Tesla dipped 2.5%, bringing week-to-date losses to 4.6%.
Corporate America is wrapping up a strong earnings season and policymakers in Washington bargain on another round of stimulus. One expert said that finalizing the stimulus deal could provide another move higher for the markets even if it is somewhat priced in already.
First-time filings for unemployment insurance totaled 861,000 last week, the highest level in a month and above the Dow Jones estimate of 773,000, the U.S. Labor Department reported Thursday.
The Congressional hearings on the GameStop saga are also set to begin on Thursday, with leaders of Melvin Capital and Robinhood joining Reddit trader Keith Gill at the U.S. House of Representatives’ Committee on Financial Services.
Prices for 10-Year Treasurys recovered, sinking yields to 1.28% from Wednesday’s 1.29%. Treasury prices and yields move in opposite directions.
Oil prices inched up three cents to $61.17 U.S. a barrel.
Gold prices added 80 cents to $1,773.60
