Canada's main stock slipped in lacklustre trade ahead of a pivotal U.S. Federal Reserve interest rate decision due later on Thursday.
The S&P/TSX composite index dropped 12.87 points to break for lunch at 13,750.91
The Canadian dollar removed 0.09 cents at 75.83 cents U.S.
Canadian companies with operations in the United States or revenues priced in U.S. dollars could get a boost if the Fed hikes rates.
The most influential weights included fertilizer company Potash Corp, which fell 1.6% to $33.10, and Toronto-Dominion Bank, which declined 0.6% to $52.85.
Industrials were among the biggest gainers, with Transcontinental ahead 2.5% to $19.64, while Air Canada flying 1.8% higher to $12.15.
Utilities also fared well Thursday morning, with Canadian Utilities picking up 0.7% to $36.53.
Gold sank, however, weighed mostly by Southern Arc Minerals, plunging 11.1% to four cents, while B2Gold slipped 2.6% to $1.48.
On the economic slate, Statistics Canada that those drawing regular employment insurance increased by 10.500 in July, up 2.0% to 545,200. On a year-over-year basis, the number of EI beneficiaries increased by 36,100 or 7.1%.
ON BAYSTREET
The TSX Venture Exchange lost 2.46 points to 550.92
The 14 TSX subgroups were evenly split midday between gainers and losers, industrials and utilities co-leading the former category, up 0.4% each. Health-care climbed 0.3%.
The seven laggards were weighed mostly by gold, down 1.1%, materials, sinking 0.9%, and real-estate, off 0.4%.
ON WALLSTREET
U.S. stocks traded in a tight range Thursday as investors awaited the Federal Reserve's afternoon decision that could hike rates for the first time in nearly a decade.
The Dow Jones industrial average nicked up 6.75 points to 16,746.70, with Verizon leading decliners and UnitedHealth the greatest advancer.
The S&P 500 eked up 1.21 points to 1,996.52, with utilities leading seven sectors higher and telecommunications the greatest decliner.
The NASDAQ index recovered 9.49 points to 4,898.73, with Apple plummeted nearly 1%.
The major averages attempted slight gains after earlier fluctuating in morning trade, essentially holding little changed from the rally of the last two days.
On the earnings front, Rite Aid reported before the bell. Adobe Systems was expected to report after the bell.
Rite Aid posted quarterly profit of two cents U.S. per share, compared to estimates of four cents a share, though revenue was above forecasts. The drug store chain also trimmed its earnings guidance slightly to reflect recent sales trends and additional amortization expense from its acquisition of pharmacy benefits manager EnvisionRX.
The Federal Open Market Committee is scheduled to conclude its two-day meeting with a statement release at 2 p.m., ET, followed by Fed Chair Janet Yellen's press conference at 2:30 p.m.
The central bank could raise short-term interest rates for the first time since 2006.
Wall Street is split over whether the Fed will move Thursday. In all, 49% of financial experts surveyed by media outlets expect a rate hike this month.
In economic news, initial jobless claims declined slightly to 264,000. August housing starts fell about 3%
The Philly Fed Index for September came in at negative 6.0. August's read was positive 8.3.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.29% from Wednesday’s 2.30%. Treasury prices and yields move in opposite directions.
Oil prices fell 49 cents a barrel to $46.66 U.S.
Gold prices faded $2.30 to $1,116.70 U.S. an ounce.
