Canada's main stock index was slightly lower on Friday, as dips in technology stocks overrode gains in health-care and consumer staples
The S&P/TSX Composite Index faded 8.42 points to greet noon at 16,447.31
The Canadian dollar inched forward 0.09 cents at 76.58 cents U.S.
Financials were boosted by a 24-cent rise in shares of Toronto-Dominion Bank to $76.81, and hike of 17 cents in Brookfield Asset Management to $55.01. Royal Bank of Canada shares inched up 17 cents to $101.25.
Shares of Constellation Software fell $71.65, or 6.8%, to $982.95 after the company missed quarterly profit estimates. The stock was the top laggard on the TSX and the biggest drag on the information technology sector.
Top percentage gainers on the TSX were TFI International Inc and Aecon Group. TFI jumped $3.07, or 7.8%, to $42.39, and Aecon rose 62 cents, or 4%, to $15.92, after reporting higher quarterly results.
The second-biggest decliner was Cameco Corp, down 38 cents, or 2.6%, to $14.36, after a stock downgrade following results earlier in the week.
ON BAYSTREET
The TSX Venture Exchange advanced 1.97 points to 707.09
Eight of the 12 TSX subgroups were positive, with health-care galloping 1.6%, consumer staples stronger by 0.3%, and industrials up 0.2%.
The four laggards were weighed most by information technology, falling 3%, real-estate worse off by 0.5%, and utilities, retreating 0.4%.
ON WALLSTREET
Stocks fell on Friday as a rollover in technology shares led by Intel and Twitter offset strong economic data.
The Dow Jones Industrials faltered 17.37 points at 25,509.70, with Intel as the biggest laggard on the 30-stock index.
The S&P 500 swooned 10.52 points to 2,826.92, with tech dropping 1%.
The NASDAQ slumped 72.1 points to 7,780.09
Tech stocks were heading for their second straight day of steep losses. On Thursday, the sector dropped more than 1.5% as Facebook posted its worst day ever. Shares of Intel and Twitter led the charge lower on Friday, falling after the release of their latest quarterly results.
Intel dropped more than 8% despite reporting better-than-expected earnings. Some analysts were worried that the company did not address some of the biggest risks it faces. Twitter, which reported earnings that matched expectations, dropped more than 18% after it said its number of monthly active users fell.
Thus far, over 50% of S&P 500 companies have reported earnings. Of those companies, 79.8% have reported better-than-expected earnings.
The Commerce Department said the U.S. economy grew by 4.1% in the second quarter, in line with analyst expectations. That's the fastest rate of the growth since the third quarter of 2014 and the third-best growth rate since the Great Recession.
Prices for the benchmark for the 10-year U.S. Treasury gained strength, lowering yields to 2.96% from Thursday’s 2.98%. Treasury prices and yields move in opposite directions.
Oil prices dropped 29 cents to $69.32 U.S. a barrel.
Gold prices eked up 10 cents to $1,225.80 U.S. an ounce.
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