Toronto markets were slightly off, for the first time in three days, in light trading, as investors were already out the door to their holidays.
The S&P/TSX composite index closed the day down 9.50 points Thursday to 13,371.20
The Canadian dollar spiked 0.37 cents to 99.05 cents U.S.
Canadian Natural Resources reversed earlier losses on the day and gained 0.5% to $44.60, while Teck Resources was up 0.2% at $58.44.
Canadian Imperial Bank of Commerce rallied six cents to $78.84, while Canadian National Railway was off 0.9% at $66.63.
Economically speaking, Canada’s economy resumed growing in October after a brief downturn in September, the gross domestic product rising by 0.2% for the month, thanks to mining and oil and gas extraction, Statistics Canada said Thursday.
ON BAYSTREET
The TSX Venture Exchange moved ahead 8.02 points to 2,175.36, while the Nasdaq Canada index closed ahead 1.79 points to 750.67.
In Toronto, all but four of the 14 subgroups trailed yesterday’s close, with metals and mining down 0.5%, while global base metals and industrials were off 0.4% each.
The four gainers were led by gold and materials, each ahead 0.2% and consumer staples, nipping up 0.1%.
ON WALLSTREET
In New York, stocks drifted slightly lower Thursday, as mixed economic data kept investors from jumping in ahead of a long holiday weekend.
The Dow Jones Industrials eked out a gain of 14 points to close at 11,573.50
The S&P 500 sifted off 2.07 points to 1,256.77. The Nasdaq Composite Index moved down 5.88 points to 2,665.60.
Investors took in a raft of economic data Thursday morning, including reports showing that jobless claims barely budged last week and new home sales rose in November but were down more than 20% from a year ago.
But Wall Street was relatively unfazed by the data. Many investors have already left their desks for the holidays, and U.S. markets will be closed Friday for the holiday weekend.
While gains have been modest in recent sessions, stocks are poised to end the week in positive territory and are on track to post double-digit gains for the year.
Jo-Ann Stores said Thursday it was being acquired by private-equity firm Leonard Green & Partners for $1.6 billion U.S., or $61 U.S. per share in cash. The stock surged by 32%.
On the economic ledger, before the opening bell, the Commerce Department reported that personal income rose 0.3% and personal spending rose 0.4% in November. The results were mixed, compared to expectations.
A consensus of economists surveyed by Briefing.com expected the report to show income rose by 0.2% in November, and spending to have risen 0.5% during the month.
Meanwhile, the Department of Labor announced that initial jobless claims fell 3,000 to 420,000 in the week ended Dec. 18. Claims were expected to have edged up to 424,000.
The Commerce Department's report on November durable goods orders declined 1.3% in November, a bit more than the expected decline of 1.1%.
The new home sales index for November from the Census Bureau rose 5.5% to a seasonally adjusted annual rate of 290,000, from a 275,000 unit rate in the previous month. The index was expected to have risen to a rate of 300,000 units. But sales are still off 21.2% from a year ago, indicating the recovery is still sluggish.
The University of Michigan's final reading on consumer sentiment in December ticked up to 74.5 from 74.2 in the previous month, slightly missing the 74.8 reading economists had expected.
Both bonds and commodity markets had a half-day Thursday, and are closed Friday.
The price on the benchmark 10-year U.S. Treasury was slightly lower, pushing the yield up to 3.39% from Wednesday’s 3.35%
Oil for February delivery jumped $1.03 to $91.51 U.S. a barrel, a day after crude topped $90 a barrel for the first time since 2008. Gas prices surpassed the milestone $3 U.S. mark Thursday for the first time since Oct. 17, 2008, as the national average compiled by motorist group AAA reached $3.013 U.S. a gallon. Gas prices have risen more than 4% from a month ago, and are nearly 16% higher than a year ago.
Gold futures for February delivery fell $8.40 to settle at $1,380.50 U.S. an ounce.
