Stocks in Canada’s largest market failed to hold the gains they’d produced for much of Friday, as declines in tech and health-care issues overrode gains in real-estate and financial stocks.
The S&P/TSX Composite Index lost 20.17 points to close the day and the week at 15,055.99
The Canadian dollar inched up 0.2 cents to 80.11 cents U.S.
Real-estate ruled the roost among those subgroups improving, as Brookfield Asset Management gained 13 cents to $49.38.
In the financial world, Royal Bank took on 40 cents to end up at $93.32, while CIBC boosted 36 cents to $105.93.
Among consumer discretionary stocks, Hudson’s Bay skyrocketed $1.37, or 13.6%, to $11.40.
Among those sectors pointed south, information technology stocks were roughed up, particularly BlackBerry, off a penny to $11.20, while Constellation Software tumbled $11.94, or 1.7%, to $683.40.
In the health-care sector, Valeant Pharmaceuticals doffed 82 cents, or 4.5%, to $17.62, while TECSYS Inc. fell 20 cents, or 1.5%, to $12.95.
Consumer staples also fell short, as Metro Inc. docked 25 cents to $41.32, while Loblaw Companies slipped nine cents to $66.93.
ON BAYSTREET
The TSX Venture Exchange moved higher 3.51 points to 769.47.
The 12 TSX subgroups were evenly split, with real-estate heading gainers, up 0.3%, while financials improved 0.2%, and consumer discretionary stocks eked up 0.1%.
The half-dozen laggards were weighed most by information technology, down 1.1%, health-care stocks, settling 0.7%, consumer staples off 0.4%.
ON WALLSTREET
U.S. stocks closed mostly higher Friday on new hopes for tax reform, with the Dow Jones industrial average notching its first weekly gain in the last three weeks.
The Dow was still positive 30.27 points to 21,813.67, with Home Depot and IBM contributing the most to the gains.
The S&P 500 moved up 4.08 points to 2,443.05, after energy and telecommunications stocks gained.
Markets rebounded this week. The S&P 500 closed up 0.7% while the Dow added 139.16 points for the week.
Markets also got a boost from speeches by Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi. Yellen said the financial system is safer now than it was in the years surrounding the housing crisis, while Draghi said the global recovery is "firming up."
President Donald Trump will start publicly campaigning for highly-anticipated tax reform next week, according to his chief economic advisor, Gary Cohn. In an interview with the Financial Times, Cohn said that the president will begin calling for long-awaited reform next Wednesday when he visits Missouri.
On the data front, orders for durable goods tumbled 6.8% last month as bookings for transportation equipment plunged 19%. The drop in orders was the biggest since August 2014 and followed a 6.4% increase in June.
Prices for the benchmark 10-year Treasury note gained ground, lowering yields to 2.17% from Thursday’s 2.19%. Treasury prices and yields move in opposite directions.
Oil prices picked up 37 cents to $47.80 U.S. a barrel
Gold prices gained $3.90 to $1,295.90 U.S. an ounce.
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