Thursday turned negative in Toronto, with energy keeping markets lower.
The S&P/TSX Composite Index sank 59.26 points to end Thursday at 13,899.32
The Canadian dollar poked higher 0.03 cents to 70.85 cents U.S.
Energy stocks weighed things down, with Enerplus dished off 29 cents, or 10.9%, to $2.36, while Husky Energy doffed 38 cents, or 9.6%, to $3.60.
In health-care, with Aurora Cannabis falling five cents, or 5.1%, to 94 cents, and Aphria gave back 24 cents, or 4.5%, to $5.09.
Financials also got bruised, with Alaris Royalties being conked 46 cents, or 4.9%, to $8.85, while National Bank of Canada surrendered $2.22m or 4.2%, to $50.27.
Tech issues did their best to help point things upward, with BlackBerry ahead 41 cents, or 7.8%, to $5.65, while Shopify climbed $38.90, or 5.6%, to $740.20.
Gold also prospered, with Yamana Gold ahead 30 cents, or 5.1%, to $6.16, while Centerra Gold gained 48 cents, or 5.1%, to $9.90.
Among materials, Wheaton Precious Metals jumped $1.29, or 2.8%, to $48.17, while Agnico Eagle Mines gathered $1.84, or 2.5%, to $76.01.
Economically speaking, Statistics Canada informed us that February manufacturing sales increased 0.5% to $56.2 billion in February, following five consecutive monthly decreases. The growth was mainly due to higher sales in the transportation equipment industry.
Sales increased in 11 of 21 industries, representing 58.4% of total Canadian manufacturing.
Elsewhere, Canada lost 177,300 jobs in March, including sharp declines in trade, transportation and utilities as well as leisure and hospitality, a report from payroll services provider ADP showed on Thursday.
ON BAYSTREET
The TSX Venture Exchange regained 4.69 points, or 1.1% to 447.40
Seven of the 12 TSX subgroups were positive on the day, with information technology sprinting 3.1%, gold brighter by 1.6%, and consumer staples improving 1.3%,
The five laggards were headed by energy, moving backwards 3.5%, while health-care, shed 2.6%, and financials were down 2.3%.
ON WALLSTREET
Stocks rose slightly on Thursday, led by tech, as Wall Street grappled with more concerns over the coronavirus outbreak and dismal economic data. Tech got a lift as investors loaded up on stocks that benefit from more people staying home during the outbreak.
The Dow Jones Industrials gained 33.33 points to close the day at 23,537.68
The S&P 500 regained 16.19 points to 2,799.55
The NASDAQ Composite jumped 139.19 points, or 1.7%, to 8,532.36. The NASDAQ 100, which is composed of the 100 largest stocks in the composite, jumped nearly 2% and erased its 2020 losses.
Netflix and Amazon each rose more than 2.5% to record levels, leading major tech stocks higher. Netflix’s gains were driven by a big price-target increase from a Goldman Sachs analyst.
The Dow remains more than 20% below its all-time highs set in February, and and S&P 500 17.9% as marketplace jitters over the spread of the novel coronavirus and an uncertain vaccine timeline foster volatile trading on Wall Street.
New York Gov. Andrew Cuomo said Thursday the state, in coordination with other states, will keep nonessential businesses shut down until May 15.
The extension comes even as the hospitalization rate in New York has fallen. It also comes after again advocated for a gradual reopening of the economy during a press conference Wednesday evening.
President Donald Trump said that there are also public health costs the result of keeping state economies closed. Lost income and benefit coverage, the president said, can also lead to significant and negative health outcomes.
Prices for the 10-Year Treasury gained, lowering yields to 0.62% from Wednesday’s 0.64%. Treasury prices and yields move in opposite directions.
Oil prices dropped 31 cents to $19.56 U.S. a barrel.
Gold prices fell six dollars to $1,734.20.30 U.S. an ounce.
Related Stories
