Equities in Canada’s biggest market slid a bit by midday on Wednesday, looking to extend a rally into a third day, even as heavyweight energy stocks dipped while technology company CGI Group Inc touched its highest since May.
The S&P/TSX composite index dipped 15.07 points to greet noon at 13,695.24
The Canadian dollar plummeted 0.62 cents at 75.94 cents U.S.
CGI Group was last up 3.1% at $52.38 and earlier broke above $54.00, its best since May 20.
The most influential movers on the index included Silver Wheaton Corp, jumping 3.6% to $18.50 after reaching a deal to buy future silver output from Glencore Plc.
First Quantum Minerals Ltd advanced 6.8% to $7.87 and the overall materials group climbed 1%
Copper prices rose 1% to $5,177.50 U.S. a tonne.
On the economic scene, Statistics Canada reported that our imports declined 1.3% in September while exports increased 0.7%.
Consequently, Canada's merchandise trade deficit with the world narrowed from $2.7 billion in August to $1.7 billion in September.
ON BAYSTREET
The TSX Venture Exchange moved up 4.17 points to 545.45.
Seven of the 13 TSX subgroups moved higher, with health-care improving 2.9%, information technology better by 1.1%, and consumer staples up 1%.
The half-dozen laggards were weighed most by energy, down 1%, gold, sliding 0.7%, and industrials, 0.6% to the bad.
ON WALLSTREET
U.S. stocks traded in a range Wednesday, after a strong start to November, as investors looked for more clues on the timing of a rate hike from a slew of data and Fed speakers.
The Dow Jones industrial average slid 28.93 points to 17,889.22.
UnitedHealth and Walt Disney were the greatest weights on the Dow Jones industrial average.
The S&P 500 fell 6.49 points to 2,103.30. Energy and health-care were the greatest decliners in the S&P 500.
The NASDAQ index faded 7.48 points to 5,137.64, while Apple dipped into the red and Microsoft came off session highs.
Tesla reported an adjusted quarterly loss and in-line revenue, but focused more on an upbeat production outlook for the electric car maker.
Facebook and Qualcomm are among the firms reporting after the close.
The October Purchasing Managers’ Index services figure came in at 54.8, down from 55.1 in September.
The non-manufacturing Institute for Supply Management report showed 59.1 for October, versus 56.9 in September.
With two days to Friday's non-farm payrolls report, the ADP employment report showed private companies added 182,000 jobs in October.
September's trade deficit came in at $40.8 billion U.S., its lowest level in seven months.
Fed Chair Janet Yellen said Wednesday morning a December rate hike is a "live possibility," depending on the data.
In prepared remarks for her testimony before the House Financial Services Committee on bank regulation and supervision, she said banks are much healthier but problems remain.
Prices for 10-year U.S. Treasuries lost some ground, raising yields to 2.23% from Tuesday’s 2.22%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.22 a barrel to $46.68 U.S.
Gold prices faded $4.44 to $1,113.35 U.S. an ounce.
