The Toronto Stock Exchange stepped back Thursday, a day after the U.S. Federal Reserve unexpectedly announced it's going to keep pumping monetary stimulus into that country’s economy
The S&P/TSX composite index remained negative 18.47 points to approach noon at 12,912.93.
The Canadian dollar erased 0.17 cents to 97.65 cents U.S.
On the TSX, the gold sector declined, as shares in Barrick Gold Corp. dropped 2.5%, or 52 cents, to $20.14 and shares in Goldcorp. Inc. also dipped 2.2%, or 62 cents, to $28.57.
The metals and mining sector was up, as December copper saw an uptick of cents to $3.35 U.S. a pound. Teck Resources picked up 16 cents to $29.60. The energy sector fell, while the October crude contract climbed. Imperial Oil dipped four cents to $44.91
On the economic stage today, Statistics Canada reported that July wholesale trade hiked 1.5% to $49.5 billion, following a 3.1% decline the month before. In volume terms, wholesale sales were up 1.4%.The market call was for a rise of 1.2% during the month.
The nation’s number-crunchers also said that the number of regular Employment Insurance beneficiaries fell by 10,900, or 2.1%, in July to 503,900. This drop brings the number of beneficiaries to a level similar to that observed before the start of the labour-market downturn in 2008.
ON BAYSTREET
The TSX Venture Exchange faded 0.14 points to 952.65
Seven of the 14 Toronto subgroups were positive by noon, led by health-care issues, up 1%, while real-estate gained 0.8%, and telecoms hiked 0.5%.
The half-dozen laggards were hampered by gold stocks, plummeting 2.5%, materials, down 1.2%, and global base metals, sliding 1%.
Information technology stocks were flat at noon hour.
ON WALLSTREET
Investors seemed a bit hung over Thursday as stocks were little changed a day after the Federal Reserve's surprise decision to keep its stimulus in place lifted two key market indexes to all-time highs.
The Dow Jones Industrials slid 25.60 points, to 15,651.30
The S&P 500 index gave back 0.53 points to 1,724.99. The NASDAQ tacked on 4.16 points to 3,787.80.
Shares of Take-Two Interactive jumped after the company said its latest game, Grand Theft Auto V, raked in $800 million U.S. in worldwide retail sales on Tuesday when it was released.
Rite Aid reported a quarterly profit, compared to its year-earlier loss, and raised earnings guidance for the year, reflecting a better-than-expected first half of the fiscal year. The drug store chain's stock surged 14%.
Groupon shares jumped after after Stifel Nicolaus analysts upgraded the stock to buy from hold.
JPMorgan Chase agreed Thursday to pay about $920 million U.S. in fines to U.S. and U.K. regulators to settle charges related to the "London Whale" trading debacle.
Investors were happy that the Fed chose to not cut back on, or taper, the size of its bond buying program just yet. This so-called quantitative easing has been supporting stock markets around the world. Many had expected the Fed to announce on Wednesday that it would begin tapering.
On the economic front, U.S. jobless claims rose last week but still came in below expectations. Analysts were expecting a higher figure because the previous reading was distorted, as computer glitches caused two states to report incomplete results.
Existing home sales unexpectedly rose in August, to an annual rate of almost 5.5 million, according to the National Association of Realtors. That's the highest rate since February 2007.
A report from the Philadelphia Federal Reserve Bank showed that manufacturing activity in the mid-Atlantic region expanded more than expected in September, as the index rose to its highest level since March 2011.
Prices for the 10-year U.S. Treasury faded a bit, raising yields to 2.72% from Wednesday’s 2.71%. Treasury prices and yields move in opposite directions.
Oil prices fell 59 cents to $107.48 U.S. a barrel.
Gold prices leaped $64.50 at $1,372.10 U.S. an ounce.
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