Canada's main stock index was subdued on Friday as a technology selloff that spilled over from Wall Street weighed on equities, though gains in defensive stocks helped limit the decline.
The TSX regained 35.89 points to reach noon Friday at 36,173.08. So far this week, the index has added 384 points, or 1.07%.
The Canadian dollar poked ahead 0.06 cents to 70.17 cents U.S.
Among companies, sustainable engineering firm Stantec reported third-quarter revenue and adjusted profit that beat analyst estimates. Stantec shares sprinted $15.60, or 16.7%, to $124.01.
Royal Bank of Canada has eliminated at least three senior climate, sustainability and ESG roles, according to three people familiar with the decisions, as Canada’s largest bank reorganizes its teams and creates a new vice presidency of public policy.
RBC shares fell back $1.70 to $287.27.
On the economic calendar, Statistics Canada reported wholesale trade rose 0.7% to $92.5 billion in September.
Moreover, manufacturing sales were essentially unchanged in September. Sales in the primary metal subsector declined the most, while the petroleum and coal product subsector posted the largest increase. On a quarterly basis, total sales rose 1.7% in the third quarter of 2026.
ON BAYSTREET
The TSX Venture Exchange lost 6.96 points to 795.82, for a loss on the week of 126 points, or 15.4%.
All but three of the 12 subgroups were positive by midday, with real-estate surging 1.9%, while consumer staples and telecoms each gaining 1%.
The three laggards proved to be information technology, behind 2%, health-care, sliding 0.2%, and financials, off 0.1%.
ON WALLSTREET
The NASDAQ Composite fell on Friday as Nvidia shares added to their recent losses, though the index still headed for a winning week alongside the other two major averages.
The Dow Jones Industrial index stumbled 141.31 points to 52,155.75
The S&P 500 skidded 64.21 points to 7,528.19.
The tech-heavy NASDAQ dropped 325.83 points, or 1.3%, to 24,040.22.
Nvidia shares weighed on the broader market for another day. The stock fell more than 4% Friday, extending the more than 4% drop it saw in the previous session. The pressure came after the exit of the scandal-hit chipmaker’s founder and CEO Jensen Huang.
HSBC downgraded the chipmaker Friday to hold, believing that the stock will languish until the company lays out a permanent succession plan.
Even with the latest bout of market turbulence, the major averages are heading for weekly advances. The NASDAQ is up more than 1%, while the S&P 500 and the Dow are poised to post an almost 2% jump.
The Dow, S&P 500 and NASDAQ all pulled back on Thursday after Huang stepped down from his post following reported extramarital affairs, including a relationship with a woman U.S. intelligence officials believe is a Chinese spy. Analysts told the media that Huang’s exit could trigger a 20% correction in the stock.
Equities initially popped after October’s producer price index reading — a measure of wholesale inflation — showed an increase of 0.3% on the month. Economists polled by Dow Jones had seen headline PPI rising 0.4%.
However, the report also showed producer prices gaining 6.5% from 12 months earlier — the biggest annual advance since November 2022.
Prices for the 10-Year U.S. Treasury lost some ground, making yields rise to 5.13% from 5.12% Wednesday. Treasury prices and yields move in opposite directions.
Oil prices settled 44 cents to $88.30 U.S. a barrel.
Gold prices ditched $4.70 to $3,880.60 U.S. an ounce.
