Equities in Canada’s jockeyed between gains and losses Thursday, after a rough session on Wednesday weighed by interest-rate fears on both sides of the border.
The TSX Composite fell 35.79 points to end Thursday to 19,241,22.
The Canadian dollar ducked 0.14 cents to 72.78 cents U.S.
Among energy stocks, which showed promise, Advantage Oil dialed 88 cents, or 8.2%, to $11.61, while Parex Resources acquired $1.63, or 7.6%, to $23.12.
In health-care, Canopy Growth hiked 29 cents, or 6.5%, to $4.73, while Tilray jumped 28 cents, or 5.7%, to $5.22.
In techs, Nuvei Corp. rocketed $1.97, or 9.5%, to $40.88, while Shopify jumped 71 cents, or 1.5%, to $46.68.
In the red, however, Nutrien led resource stocks down $15.38, or 13.5%, to $98.44, while Filo Mining shed 55 cents, or 3.2%, to $16.61.
Gold also suffered with Equinox dumping 55 cents, or 13.7%, to $3.46, while Barrick Gold drooped $1.47, or 7.5%, to $18.13.
In real-estate, Tricon Capital Group lost 42 cents, or 3.6%, to $11.19, while Dream Industrial REIT units slid 36 cents, or 3.1%, to $11.12.
On the economic slate, Statistics Canada reported Canada's merchandise exports rose 1.3%, while imports increased 0.4% in September.
As a result, Canada's merchandise trade surplus with the world widened from $550 million in August to $1.1 billion in September.
Elsewhere, the total value of building permits in Canada fell 17.5% in September to $10.2 billion, the largest recorded monthly decline.
This was the first time all survey components posted monthly decreases since September 2019.
Meanwhile, the federal government was to outline its new fiscal forecasts this afternoon, and update its spending plans against the backdrop of a stalling economy brought on by a steep rise in interest rates.
ON BAYSTREET
The TSX Venture Exchange shed 2.73 points to 585.03.
Eight of the 12 TSX subgroups finished the session in the red, with materials sliding 3.5%, gold off 2.5%, and real-estate falling 0.7%.
The four gainers were led by energy, plowing ahead 3.1%, health-care, improving 2%. and industrials, better by 1.4%.
ON WALLSTREET
Stocks fell on Thursday, building on Wednesday’s losses after the Federal Reserve delivered another three-quarter-point interest rate hike, and signaled that a pivot or rate cut won’t come anytime soon.
The Dow Jones Industrials closed the day lower by 146.51 points to 32,001.25.
The S&P 500 waned 39.8 points, or 1.1%, to 3,719.89
The NASDAQ cratered 181.86 points, or 1.7%, to 10,342.94.
For the week, all the major averages are on pace for losses, with the Dow down more than 2%. The S&P has lost 3.9% the NASDAQ has shed 5.8%, week to date.
Elsewhere, corporate earnings season continued, with Qualcomm, Roku and Fortinet all falling on disappointing quarterly results and forward guidance. Kellogg’s shares fell nearly 9% despite a strong quarter and lift to guidance.
Traders had anticipated the central bank’s 0.75-percentage-point rate increase and initially read the Fed’s statement as dovish, suggesting smaller hikes in the future.
Treasury prices slipped, raising yields to 4.15% from Wednesday’s 4.08%. Treasury prices and yields move in opposite directions.
Oil prices tumbled $2.02 to $87.98 U.S. a barrel.
Gold prices skidded $17.10 to $1,632.90 U.S. an ounce.
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