Stocks in Toronto moved only slightly at the open on Friday with investors waiting to take cues from a slew of U.S. economic data including housing starts, building permits and industrial production.
The S&P/TSX composite index moved higher by 16.56 points to begin Friday’s trading at 13,848.14
The Canadian dollar slipped yet again, by 0.15 cents to 91.33 cents U.S.
Bombardier Inc. said a group led by its rail technology unit has signed a $4.1-billion contract with the Australian state of Queensland.
Bombardier shares faded 12.5 cents to $4.05.
Dollarama Inc. said December sales were hurt by severe winter weather and power outages. The discount store chain’s shares climbed 28 cents to $83.36.
Saputo Inc. said on Friday its shareholding in Australia's Warrnambool Cheese and Butter Factory Holdings Co has jumped to 46.17%, putting it close to majority control. Saputo shares gathered 26 cents to $51.94.
ON BAYSTREET
The TSX Venture Exchange regained 2.06 points to 976.60.
All but four of the 14 Toronto subgroups were lower to start the session. Health-care and industrials each shed 0.6%, while metals and mining dropped 0.4%.
The four gainers were led by gold, up 2.1%, materials, up 0.7%, and global base metals, surging 0.4%.
ON WALLSTREET
Stocks were mixed in early trading Friday as investors analyzed a slew of corporate earnings and the latest figures on housing.
The Dow Jones Industrial Average regained 17.05 points to begin the last trading session before a long weekend at 16,434.06
The S&P 500 index dipped 3.49 points to 1,842.40. The NASDAQ slid 12 points to 4,206.65. Markets are to be shuttered Monday in the U.S. for Martin Luther King Day.
Shares of United Parcel Service dropped after the shipping company lowered fourth-quarter earnings estimates due to a surge of last minute holiday orders. UPS took some heat late last year for failing to make deliveries in time for Christmas. Shares of rival FedEx fell slightly on the news as well.
Morgan Stanley shares rose after the investment bank's earnings beat Wall Street estimates. The firm was the last of the six largest U.S. banks to post earnings.
The majority of those banks surpassed analysts' expectations, but Wells Fargo, JPMorgan Chase, Citigroup and Bank of America all reported a sharp drop in mortgage activity due to higher interest rates.
Shares dropped for General Electric fell despite the conglomerate's report of a boost in quarterly earnings.
Intel shares sank 4% following quarterly earnings on Friday that missed expectations.
On the economic front, the U.S. Census Bureau released reports that showed new housing construction and building permits fell in December. The robust housing market has been a main driver of the economic recovery.
Prices for 10-year U.S. Treasuries sagged a bit, upping yields to 2.85% from Thursday’s 2.84%. Treasury prices and yields move in opposite directions.
Oil prices took on 50 cents to $94.46 U.S. a barrel.
Gold prices surged $6.70 to $1,246.90 U.S. an ounce.
