Stocks in Toronto were kind of a mixed bag at the finish on Friday, with resource stocks carrying the day.
The TSX Composite Index came off its highs of the day but still posted gains of 29.3 points to Friday at 29,761.28. But on the week, the index lost seven points.
The Canadian dollar recovered 0.24 cents to 71.75 cents U.S.
The technology index led the declines, with heavyweight e-commerce firm Shopify falling $4.56, or 2.3%, to $195.49.
Among individual stocks, Perpetua Resources jumped $2.98 or 11.2%, to $29.49, after saying it was in talks with Glencore, Trafigura, Clarios and Sunshine Silver about partnerships to refine antimony in the U.S.
Bus and coach maker NFI Group dropped 86 cents, or 5.1% to $16.17, after providing updates for the third quarter of the year and saying it was actively responding to numerous bids.
Gold led the parade of victors, with Iamgold sprouting 73 cents, or 4.4%, to $17.20, while Aya Gold and Silver hiked $1.73, or 13.4%, to $14.66.
Among other resource stocks, First Majestic Silver moved ahead 62 cents, or 3.8%, to $16.89, while Methanex jumped $1.97, or 2%, to $55.33.
In telecoms, Rogers added 59 cents, or 1.2%, to $49.55, while Cogeco Communications picked up 65 cents, or 1%, to $64.76.
Tech issues went south, with Quarterhill losing six cents, or 5.5%, to $1.04, while Constellation Software dipped $201.83, or 5.2%, to $3,689.57.
In health-care, Jamieson Wellness dipped 47 cents, or 1.3%, to $35.41, while Loblaw Companies shed 52 cents, or 1%, to $53.41,
U.S. President Donald Trump announced a fresh set of tariffs on branded drugs, heavy-duty trucks and kitchen cabinets that are set to come into effect next week.
Meanwhile, Canada Post workers went on a nationwide strike on Thursday after the government called for a widespread transformation in a bid to modernize operations and strengthen finances.
Canada's anti-money laundering agency imposed its largest ever penalty of $19.6 million on Peken Global Limited, operator of one of the world's largest cryptocurrency exchanges, KuCoin.
On the economic front, Statistics Canada said GDP rose 0.2% in July, up for the first time in four months.
ON BAYSTREET
The TSX Venture Exchange added 13.77 points, or 1.5%, to 933.95
On the week, the index surged 29.15 points, or 2.9%.
Eight of the 12 subgroups were positive on the day, as gold sprinted 1.8%, materials strengthened 1.6%, and telecoms improved 0.6%.
The four laggards were weighed most by health-care, off 0.6%, and consumer staples sliding 0.5%.
ON WALLSTREET
The Dow Jones Industrial Average climbed on Friday following the release of crucial inflation data.
The 30-stock index hiked 299.97 points, or 0.7%, to end the day and the week at 46,247.39
The S&P 500 recovered 38.98 points, or 0.6%, to 6,643.70
The tech-heavy NASDAQ came out of its shadow and hiked 99.37 points, or 0.4%. to 22,484.07.
The market’s third consecutive day in the red on Thursday was spurred by continued losses in software giant Oracle and other artificial intelligence players amid questions over the strength of the AI trade.
The market’s third consecutive day in the red on Thursday was spurred by continued losses in software giant Oracle and other artificial intelligence players amid questions over the strength of the AI trade. Oracle is also down more than 7% for the week.
Week to date, the S&P 500 was down 0.3%. The tech-heavy NASDAQ lost 0.7%, while the Dow was fairly flat.
August’s personal consumption expenditures price index, the Federal Reserve’s preferred inflation measure, showed that core inflation – a measure excluding food and energy costs – ran at a 2.9% seasonally adjusted annual rate.
That was in line with what economists polled by Dow Jones were expecting.
The all-items index showed an annual rate of 2.7% as well as a monthly gain of 0.3%, in line with expectations as well. Markets continue to price in two quarter-point rate cuts at the Fed’s upcoming meetings, which is what the central bank has projected.
Prices for the 10-year Treasury hesitated a mite, making yields tick up to 4.19% from 4.18%. Treasury prices and yields move in opposite directions.
Oil prices regrouped 28 cents to $65.26 U.S. a barrel.
Gold prices hiked $23.80 to $3,794.90 U.S. an ounce.
