Canada’s main stock index was down slightly on Wednesday as broad gains in financials and other major sectors were offset by weakness in shares of energy companies.
The S&P/TSX composite index hesitated 35.47 points to greet noon at 13,376.16.
The Canadian dollar grew 0.06 cents at 75.39 cents U.S.
Suncor Energy lost 2.3% to $38.20, and Canadian Natural Resources gave back 0.7% to $31.77.
In the financial services sector, Bank of Montreal gained 0.2% to $76.81 but Royal Bank of Canada was up 0.1% to $76.14.
ON BAYSTREET
The TSX Venture Exchange inched down 1.2 points to 530.3
Nine of the 13 TSX subgroups remained above water by midday, led by information technology stocks, up 1.6%, gold, soaring 1.4%, and health-care, haler by 0.9%.
The four laggards were weighed most by metals and mining, down 4.5%, energy, sagging 2.4%, and industrials, falling short 0.4%.
ON WALLSTREET
U.S. stocks traded in a range Wednesday, trying to hold mild opening gains while declines in oil prices and disappointing Macy's earnings weighed.
The Dow Jones industrial average regained 15.06 points to 17,773.27,
The S&P 500 remained in the red 0.48 points to 2,081.24. Energy fell about 1.5% as the greatest decliner in the S&P 500, while consumer discretionary was also among the laggards.
The NASDAQ index moved higher 7.98 points to 5,091.23, as shares of Amazon.com jumped 2% to hit an all-time high going back to the company's initial public offering in 1997. Morgan Stanley raised its price target to $800 U.S. a share, for a 21% upside from
Tuesday's closing price. Apple briefly fell 1%, extending Tuesday's declines
Macy's fell more than 13.5% in midday trade, on track for its worst day in more than seven years. The stock is already down more than 25% year-to-date.
The retailer cut full-year sales and profit forecasts, and posted a surprise drop in quarterly same-store sales as customers reduced spending and the strong dollar pressured revenue from tourists.
J.C. Penney held more than 2.5% lower, after briefly jumping more than 2.5% in pre-market trade. The stock is up more than 25% for the year so far.
The firm said it is "pleased" with its third-quarter results and said comparable same-store sales rose 6.4%, which topped FactSet expectations of 5.7%. JC Penney also announced the settlement of a false advertising class action lawsuit ahead of its earnings report, due Friday.
Analysts also kept an eye on Singles' Day sales in China, the local version of Black Friday hosted primarily by Alibaba every Nov. 11.
Halfway into the shopping event, the e-commerce giant said gross merchandise volume already surpassed last year's record of $9.3 billion U.S.
Shares of Alibaba held more than 1.5% lower in midday trade.
The bond market in the U.S. was closed for Veterans’ Day
Oil prices dipped $1.02 a barrel to $43.19 U.S.
Gold prices fell $2.29 to $1,087.38 U.S. an ounce.
