Equities in Toronto took a breather from climbing their dizzy heights on Thursday, as gains in utilities and consumer stocks were more than snuffed out by weakness in resource concerns.
The TSX fell back 54.3 points to conclude trading on Thursday at 20,436.87.
The Canadian dollar sank 0.05 cents to 75.91 cents U.S.
Gold weighed heaviest on the TSX Thursday, with OceanaGold stumbling 19 cents, or 6.7%, to $2.64, while Wesdome Gold fell 27 cents, or 3.8%, to $6.91.
In tech issues, Bitfarms handed back 15 cents, or 6.2%, to $2.27, while Alithya dropped 12 cents, or 4.4%, to $2.59.
In materials, Osisko Mining fell 17 cents, or 5.4%, to $2.97, while MAG Silver stepped back 56 cents, or 3.6%, to $15.10.
Utilities tried to lift things up, with AltaGas up 34 cents, or 1.4%, to $24.77, while Fortis Inc. took 78 cents, or 1.4%, to $57.48.
Among consumer staples, Primo Water vaulted 37 cents, or 2%, to $18.48, while North West Company moved ahead 41 cents, or 1.3%, to $31.55.
In energy stocks, Imperial Oil advanced $1.32, or 2.1%, to $65.24, while Crescent Point Energy picked up 20 cents, or 2%, to $9.99.
ON BAYSTREET
The TSX Venture Exchange dipped 4.51 points to 617.63.
Eight of the 12 TSX subgroups lost ground on the session, with gold tumbling 2.3%, information technology off 1.9%, and materials down 1.3%.
The four gainers were led by industrials, better by 0.7%, consumer staples, moving forward 0.5%, and energy, beating breakeven 0.2%.
ON WALLSTREET
The Dow Jones Industrial Average jumped for a ninth consecutive day on Thursday after better-than-expected earnings results from drugmaker Johnson & Johnson. It was the Dow’s best daily winning streak since 2017.
But the broader market suffered after post-earnings declines in trader favorites Netflix and Tesla.
The 30-stock index moved higher 163.97 points to end the day at 35,225.18, enjoying their ninth straight day of gains, its longest streak since 2017.
The S&P 500 backpedaled 30.85 points to 4,534.87.
The NASDAQ index jettisoned 294.71 points, or 2.1%, to 14,063.31.
Shares of Dow constituent Johnson & Johnson rose 6% after the drugmaker hiked its full-year guidance along with posting quarterly results that topped Wall Street’s estimates. Another Dow name, insurer Travelers, beat analyst estimates for revenue in the quarter, boosting the shares.
But the earnings results were uneven and that dragged down the S&P 500 and NASDAQ. Shares of Netflix dropped more than 8% after the streaming giant posted revenue that fell short of analysts’ estimates. Expectations were high into the report with the stock up nearly 50% on the year.
Tesla, meanwhile, tumbled 9.7%. Late Wednesday, CEO Elon Musk and other executives said on its earnings call that vehicle production would slow during the third quarter due to shutdowns for factory improvements.
Of the S&P 500 companies that have reported earnings thus far, 74% have exceeded expectations, FactSet data shows.
Prices for the 10-year Treasury slumped, raising yields to 3.85% from Wednesday’s 3.74%. Treasury prices and yields move in opposite directions.
Oil prices regained 28 cents to $75.63 U.S. a barrel.
Gold prices dulled $8.90 to $1,971.80 U.S. an ounce.
