Canada's main stock index opened higher on Thursday as metal prices bounced back and some sectors recovered from a bruising previous session amid a lack of fresh cues to the future path of interest rates.
The TSX Composite recovered 5.85 points in Thursday’s opening hour to 20,700.87.
The Canadian dollar shed 0.02 cents to 74.04 cents U.S.
On the companies front, brokerage TD Securities initiated coverage of oil and gas pipeline company TC Energy Corp with a "buy" rating. TC shares slid 34 cents to $52.20.
Five brokerages cut price targets on oil and gas producer Birchcliff Energy after the company revised its five-year outlook to reflect slower production. Birchcliff shares plunged 68 cents, or 11.9%, to $5.06.
ON BAYSTREET
The TSX Venture Exchange fell 1.44 points, to begin Thursday at 552.54
The 12 subgroups were split in half Thursday, with consumer discretionary stocks better by 0.8%, industrials up 0.7%, and consumer staples, improved 0.6%.
The half-dozen laggards were weighed most by energy, sagging 1%, utilities, wilting 0.5%, and materials, off 0.4%.
ON WALLSTREET
The S&P 500 rose Thursday, boosted by tech gains, as the market tried to regain its footing after yet another losing session.
The Dow Jones Industrials decreased 45.67 points at 37,221.
The much broader index regained 18.28 points to 4,757.49.
The NASDAQ spiked 135.02 points to 14,990.65.
Apple shares ticked higher by more than 2% after Bank of America upgraded the stock to buy, calling for more than 20% upside over the next 12 months.
First-time filings for unemployment insurance came in at 187,000 for the week ended Jan. 13, down 16,000 from the previous period, the Labor Department reported Thursday. That was stronger than economists’ consensus estimate of 208,000, according to numbers gathered by Dow Jones.
Prices for the 10-year Treasury slipped, raising yields to 4.12% from Wednesday’s 4.10%. Treasury prices and yields move in opposite directions.
Oil prices gained 63 cents to $73.19 U.S. a barrel.
Gold prices shone brighter $8.50 to $2,015.
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