Stocks in Canada’s largest market continued to wobble as the clock approached noon Eastern time on Thursday, mostly shaking off the losses registered in consumer discretionary and telecom stocks
The S&P/TSX Composite Index faltered 107 points to greet noon hour Thursday at 16,124.25
The Canadian dollar grew 0.46 cents at 75.46 cents U.S.
Among consumer discretionary issues, Canadian Tire sagged 24 cents to $171.15, while Magna International stumbled $3.05, or 3.8%, to $77.56.
In the telecom sector, Corus Entertainment lost 63 cents, or 12.3%, to $4.50, while Rogers Communications gave back 77 cents, or 1.2%, to $62.03.
Among materials issues, Teck Resources slipped 26 cents to $32.98, while Denison Mines lost two cents, to 3%, to 64 cents.
Health-care stocks stood out amid the general gloom, as Canopy Growth leaped $2.14, or 5.8%, to $39.07, while cannabis rival Aphria gained 34 cents, or 2.9%, to $12.09.
On the economic front, Statistics Canada reports average weekly earnings of non-farm payroll employees were $995 in April, virtually unchanged compared with the previous month. In the 12 months to April, earnings were up 2.5%.
The agency adds that after rising rapidly from August to December 2017, earnings have been relatively stable since the start of 2018.
Elsewhere on the macroeconomic front, the effects of U.S. tariffs and tighter mortgage rules will "figure prominently" in the Bank of Canada's interest rate decision in July, but central bank Governor Stephen Poloz kept markets guessing on Wednesday on whether it would be a hike or a hold.
ON BAYSTREET
The TSX Venture Exchange faded 2.55 points to 736.90
All but one of the 12 TSX subgroups were lower midday, as consumer discretionary hurtled earthward 1.7%, while telecoms shed 1%, and materials dropped 0.7%.
Health-care stocks surged 2.6%
ON WALLSTREET
Stocks rose on Thursday, slightly paring weekly losses from rising tensions between the United States and some of its key trade partners.
The Dow Jones Industrials found its way out of the red and gained 25.3 points midday to 24,142.89, with Verizon as the best-performing stock in the index.
The S&P 500 recovered 6.57 points to 2,706.20, higher financials and telecoms outperformed.
The NASDAQ picked up 26.75 points to 7,471.84
Shares of J.P. Morgan, Goldman Sachs, Citigroup, Morgan Stanley and Bank of America all rose more than 1%, lifting the financials sector. Financials entered Thursday's session having fallen for a record 13 straight sessions.
Equities have been under pressure this week, however, as trade tensions between the U.S. and some of its biggest trade partners have mounted. Through Wednesday's close, the Dow is down 1.9%, for the week, while the S&P 500 is off 2%, and the NASDAQ has slumped 3.2%.
Walgreens Boots Alliance dropped 9% and CVS Health fell 7.8%, after Amazon announced it had bought PillPack, an online pharmacy.
Prices for the benchmark for the 10-year U.S. Treasury lost ground, raising yields to 2.84% from Wednesday’s 2.83%. Treasury prices and yields move in opposite directions.
Oil prices surged 66 cents to $73.42 U.S. a barrel.
Gold prices slipped five dollars to $1,251.10 U.S. an ounce.
Related Stories
