Stocks in Canada’s biggest centre finished higher on Wednesday as gains in gold miners and energy companies offset declines in most other sectors, including the hefty financials group.
The S&P/TSX composite index clung to gains of 30.6 points to close at 13,875.33
The Canadian dollar jumped 0.66 cents at 77.36 cents U.S.
Among gold issues, Iamgold jumped 10.7% to $2.68, while B2Gold sprinted 10.2%, to $1.83.
In the energy field, RMP Energy triumphed 8.9% to $1.83, while Crew Energy was better by 4.9% to $5.52.
ON BAYSTREET
The TSX Venture Exchange added 3.38 points to 556.76
Eight of the 13 TSX subgroups were lower on the day, as utilities dropped off 1.5%, consumer staples sank 1%, and information technology fell 0.7%.
The five gainers were led by gold, up 6.3%, materials, hiking 3.8%, and energy, 1.3% to the good.
ON WALLSTREET
U.S. stocks closed lower Wednesday as investors digested earnings reports and weighed weaker-than-expected data.
The Dow Jones industrial average dropped 137.14 points to 16,924.75, pressured by declines in Wal-Mart and Boeing. The index ended below the psychologically key level of 17,000 for the first time since Oct. 7.
The S&P 500 slumped 8.94 points to 1,994.75, after a brief attempt to turn positive as materials and energy led advancers with gains about 1% each. The index fell below the psychologically key level of 2,000 in intraday trade for the first time since Oct. 8. Consumer sectors were the greatest weights on the index.
The NASDAQ index lost 11.32 points to 4,785.09, as a rally of more than 10% in SanDisk on news it was exploring a potential sale boosted semiconductor stocks. Apple fell more than 1%.
Wal-Mart plunged 10% as the greatest weight on the Dow Jones industrial average. The firm said Wednesday that it expects sales to be flat in fiscal year 2016. At the lows of the day, shares hit a three-year low and wiped out more than $20 billion U.S. in market cap, on track for its worst day in more than a decade.
Boeing fell more than 4%, contributing nearly as much to declines in the Dow as Wal-Mart. The aircraft maker's stock declined amid concerns about aircraft demand following Delta comments in its earnings call Wednesday about a "huge bubble in excess wide-body airplanes," StreetAccount said.
Following JPMorgan's disappointing results late Tuesday, Bank of America reported earnings that beat analysts' expectations.
Meanwhile,BlackRock said its third-quarter profits fell 8%.
Wells Fargo also reported earnings that beat expectations.
Netflix is scheduled to release results after the close. Citigroup and Goldman Sachs earnings are slated for Thursday before the bell.
U.S. retail sales barely rose in September as cheaper gasoline weighed on service station receipts, while producer prices posted their biggest decline in eight months.
August business inventories remained unchanged while economists expected a 0.1% increase.
In the afternoon, the U.S. Federal Reserve's latest Beige Book said modest overall economic expansion continues. The report said the stronger dollar was more of a headwind to the manufacturing sector than slowdown in China.
Prices for 10-year U.S. Treasuries were higher, dropping yields to 2% from Tuesday’s 2.04%. Treasury prices and yields move in opposite directions.
Oil prices shed five cents a barrel to $46.61 U.S.
Gold prices gained $19.20 to $1,188.04 U.S. an ounce.
