Canada's main index extended gains on Thursday as a jump in Shopify shares lifted the broader technology sector, while pot firms gained after the United States' move to ease curbs on marijuana.
The TSX was off its highs of the morning, but managed to hang onto 17.67 points as morning became afternoon at 20,347.99.
The Canadian dollar faded 0.01 cents to 73.86 cents U.S.
Technology stocks were led by a gain of $6.79, or 8.4%, in Shopify to $88.00, after the company said Amazon.com would release an app in Shopify's app ecosystem that would give U.S.-based merchants access to Amazon's "Buy with Prime" option.
Shares of cannabis firms Cronos Group prospered 26 cents, or 10.3%, to $2.79, while Tilray Brands gathered 45 cents, or 12.5%, to $4.04, OrganiGram Holdings hiked 24 cents, or 11.7%, to $2.30, Aurora Cannabis spiked six cents, or 9.4%, to 70 cents, Canopy Growth popped 24 cents, or 40%, to 84 cents.
Canadian Imperial Bank of Commerce fell $1.74, or 3.2%, to $53.58, after it missed analysts' estimates for quarterly profit.
From Statistics Canada, the number of employees receiving pay and benefits from their employer—measured as "payroll employees" in the Survey of Employment, Payrolls and Hours—increased by 47,700 (+0.3%) in June.
The agency also says job vacancies remained on a downward trend, edging down by 8,900 (-1.2%) to 753,400 in June.
ON BAYSTREET
The TSX Venture Exchange regained 1.24 points to 586.31.
Eight of the 12 TSX subgroups had faded into the red midday, with gold tarnished 1%, materials weaker by 0.5%, and industrials off 0.4%.
The four gainers were led by health-care, up 4.6%, while information technology, was up 2%, and consumer discretionary stocks were better 0.6%.
ON WALLSTREET
The Dow Jones Industrial Average rose Thursday, the last day of the month, as Wall Street tried to stretch a late-August winning streak to five sessions.
The 30-stock index was off its peaks of the morning, but still gained 23.14 points to 34,913.38.
The S&P 500 index moved doggedly ahead 6.78 points to 4,521.65.
The NASDAQ index surpassed breakeven 52.38 points to 14,071.69.
The Dow got a boost from Salesforce. Shares advanced more than 4% after the software company announced fiscal second-quarter results and third-quarter guidance Wednesday that exceeded analysts’ expectations.
Investors are coming off a positive session, with the S&P 500, Dow and NASDAQ notching a four-day winning streak. Those gains helped the major indexes trim their monthly losses. All three benchmarks are down more than 1%.
Traders on Thursday also pored over new U.S. inflation data. The core personal consumption expenditures index increased 0.2% month-over-month in July and 4.2% year over year, matching estimates from economists polled by Dow Jones. The core PCE is a closely watched inflation indicator by the Federal Reserve.
Investors will now turn their attention to non-farm payroll data due out Friday morning. Economists polled by Dow Jones forecast 170,000 additions. Traders are holding onto hope that the report will indicate that the economy is slowing meaningfully, and ultimately give the central bank reason to pause benchmark interest rate hikes.
Prices for the 10-year Treasury gained, lowering yields to 4.09% from Wednesday’s 4.12%. Treasury prices and yields move in opposite directions.
Oil prices moved up 53 cents to $82.16 U.S. a barrel.
Gold prices slid $7.20 to $1,965.80 U.S. an ounce.
