Markets in Canada’s largest centre settled in the red on Thursday as strength in health-care issues was balanced out somewhat by losses in gold
The S&P/TSX Composite Index dropped 20.55 points to close Thursday at 16,326.79
The Canadian dollar tumbled 0.52 cents to 76.44 cents
Gold issues were hit particularly hard, as Detour Gold Corp fell 48 cents, or 4.5%, to $10.32, while New Gold docked eight cents, or 5.4%, to $1.30
Among materials, First Majestic Silver was down 35 cents, or 4.9%, to $6.82, while First Quantum Minerals floundered 53 cents, or 3%, to $16.88.
In the consumer discretionary field, Canadian Tire gave back 67 cents to $163.94, while Magna International fell 68 cents, or nearly 1%, to $68.83.
Health-care stocks proved the top gainer, as Canopy Growth Corporation $2.20, or 4.2%, to $54.30.
The largest percentage gainer on the TSX was Air Canada, up 30 cents, or 1.1%, to $26.82. Elsewhere in industrials, Bombardier gained a penny to $4.62.
In tech stocks, Shopify gained $1.06 to $179.63, while BlackBerry expanded 13 cents, or nearly 1%, to $13.41.
On the economic beat, Statistics Canada reported that, in June, 460,000 people received regular Employment Insurance benefits, up 3,800, or 0.8%, from May.
ON BAYSTREET
The TSX Venture Exchange resurfaced 0.94 points to 699.81
Seven of the 12 subgroups shifted negative by the closing bell, with gold dulling in price 2.4%, materials down 1.7%, and consumer discretionary stocks 0.4% to the bad.
The five gainers were led by health-care, growing 2.1%, information technology, clicking 1% higher, and industrials, picking up 0.4%.
ON WALLSTREET
Stocks finished lower on Thursday as an ongoing trade war between the U.S. and China and worries of renewed legal issues for President Donald Trump dampened investor sentiment.
The Dow Jones Industrial Average plummeted 76.62 points to 25,656.98, as Caterpillar lagged.
The S&P 500 faltered 4.84 points to 2,856.98, with materials declining more than 0.5%
The NASDAQ dropped 10.64 points to 7,878.46.
Caterpillar dropped 2%, while Boeing, another bellwether of global trade, fell 1%. Deere shares also dropped 1.1%. Tech shares like Alibaba and Netflix rolled over, giving back earlier gains.
Shares of AMD rose 5.5% after analysts at Rosenblatt Securities hiked their price target on the stock to $30 from $27, highlighting the company's manufacturing advantage against Intel.
Synopsys shares jumped after the company reported better-than-expected earnings and raised its fiscal fourth quarter guidance for earnings and revenue.
Weekly jobless claims slipped by 2,000 to 210,000 last week despite the ongoing trade worries, the U.S. Labor Department said. Economists expected claims to rise to 215,000.
The data come as leading central bankers meet for an economic symposium at Jackson Hole in Wyoming, where they will discuss the future of monetary policy. Federal Reserve Chair Jerome Powell will address attendees in a speech Friday.
President Donald Trump's former lawyer, Michael Cohen, pleaded guilty to eight counts related to tax fraud, campaign contributions, making false statements to a financial institution, and unlawful corporate contributions.
Cohen also admitted to making payments to two women at the direction of Trump. Meanwhile, former Trump campaign manager Paul Manafort was found guilty on eight counts in a separate case.
The legal troubles have raised questions about whether Trump will remain in office.
Prices for the benchmark for the 10-year U.S. Treasury stayed put, keeping yields at Wednesday’s 2.82%.
Oil prices slid one penny to $67.85 U.S. a barrel.
Gold prices dumped $11.70 to $1,191.60 U.S. an ounce.
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