Canada's main stock index rebounded from earlier losses in choppy trading Friday, and barely missed breakeven
The S&P/TSX composite index dipped 3.01 points to end the day and the week at 12,385.70
The Canadian dollar erased 0.57 cents to 100.68 cents U.S.
In the materials sector, home to miners, Barrick Gold Corp was down three cents to $33.19, and Goldcorp. Inc down 14 cents to $35.03, though gold prices recovered from earlier lows.
Dragging on the downside, RIM plunged three dollars, or 21.5%, to $10.95 following the BlackBerry maker's Thursday earnings announcement, when the company outlined plans to change the way it charges for services.
In the telecoms sector, also in the red, Manitoba Telecom plunged 1.3% to $32.59.
Among metal stocks, Turquoise Hill Resources ducked 4.1% to $7.08, while Major Drilling Group took it on the chin 2.6% to $9.77.
On the economic front, Statistics Canada reported that real gross domestic product crept up 0.1% in October, following no growth in September and a 0.1% decline in August.
Moreover, consumer prices rose 0.8% in the 12 months to November, following a 1.2% gain in October. The November increase was the smallest year-over-year gain in the Consumer Price Index since October 2009.
Elsewhere, the Conference Board of Canada said Friday that its index of consumer confidence was down again in December, the third month in a row, dropping by 2.4 points from the previous month to 77.9.
The index is based a monthly survey of consumer attitudes about a number of personal and general financial issues.
ON BAYSTREET
The TSX Venture Exchange subtracted 2.79 points to 1,177.71.
The 14 Toronto subgroups were evenly split Friday between gainers and losers. Information technology issues took a 7.4% pasting, while real-estate issues fell 0.9%, global base metals slid 0.7%
The seven gaining groups were led by gold, up 0.8%, health-care, up 0.6%, and telecoms, ahead 0.5%
ON WALLSTREET
U.S. stocks dropped sharply Friday, as investors grew increasingly concerned about the latest signs of gridlock in Washington.
The Dow Jones Industrial Average descended 120.88 points – off its lows of the day -- to close Friday at 13,190.80
The S&P 500 moved down 13.52 points to 1,430.17. The Nasdaq Composite slumped 29.38 points to 3,021.01
In company news, shares of Blackberry maker Research in Motion fell more than 15% on Friday, after the company reported Thursday afternoon that sales for the latest quarter fell 47%.
Nokia announced an agreement to settle all patent claims with RIM early Friday, however, financial terms were not disclosed.
Meanwhile, Nike shares rose 4% after the apparel giant posted quarterly earnings Thursday afternoon that beat expectations.
Shares of Walgreens fell 2.8% Friday, after the company's quarterly results showed earnings and sales dropped versus a year ago.
Adding to the drama on trading desks today, it's "quadruple witching day" -- when investors close out contracts on stock futures and other stock options. Market movements up or down are typically magnified on these four trading days each year.
Lawmakers in the House failed to support the so-called "Plan B", a proposal backed by House Speaker John Boehner, late Thursday.
The White House had already threatened to veto that plan, saying it would bring only "minimal" changes in projected budget deficits, but its failure underscored the lack of progress on Capitol Hill as the cliff draws nearer.
Economically speaking, data released by the U.S. government Friday morning showed that personal income rose 0.6% in November, while spending increased 0.4% -- both figures came in higher than expected.
A report on consumer sentiment from the University of Michigan and Thomson Reuters came in lower than expected.
Treasury prices regained some ground, lowering yields on the 10-year note to 1.75% from Thursday’s 1.80%. Treasury prices and yields move in opposite directions.
Oil prices plunged $1.33 to $88.80 U.S. a barrel.
Gold prices gained $11.50 to $1,657.60 U.S. an ounce.
