Canada's main stock index doggedly kept in the green on Thursday after a decline in oil prices helped drive down the energy sector, and shares in Canadian Imperial Bank of Commerce's slipped after it posted quarterly results.
The S&P/TSX Composite Index held onto gains of 9.45 points to pause for lunch at 15,072.61
The Canadian dollar gained 0.12 cents to 79.81 cents U.S.
CIBC, Canada's fifth-biggest lender, recorded a rise in earnings as a strong performance from its retail business offset a weaker showing at its capital markets division.
CIBC shares slipped 1.1% to $92.17.
In the energy sector, Suncor Energy fell 0.3% to $39.20, and TransCanada slipped 0.3% to $63.12.
Gold prices also fell, weighing on the shares of precious metals miners.
Barrick Gold Corp slipped 0.2% to $21.31, and Goldcorp was down 0.1% at $16.31.
On the economic slate, Statistics Canada reported that those Canadian drawing regular employment insurance benefits totaled 517,200 in June, down 7,000, or 1.3%, from May. This was the eighth consecutive monthly decline in the number of beneficiaries.
ON BAYSTREET
The TSX Venture Exchange dipped 0.62 points to 764.73.
Eight of the 12 TSX subgroups were positive by noon hour ET, with materials and financials up 0.3% each, and real-estate eking out a gain of 0.2%.
The four laggards were weighed down by energy stocks, off 0.5%, consumer staples sliding 0.4%, and gold, sliding 0.2%.
ON WALLSTREET
Retail stocks rose sharply on Thursday after companies in the sector, some of the worst performers this year, rebounded after earnings weren't as bad as feared.
The Dow Jones Industrials dropped 12.39 points to greet noon at 21,799.70
The S&P 500 slid 2.93 points to 2,441.11,
The NASDAQ was lower 20.34 points to 6,258.06.
Shares of Abercrombie & Fitch, PVH Corp., Williams-Sonoma, Sears Holdings and Perry Ellis all trading higher. Shares of Tiffany and Home Depot also rose.
Retail stocks have taken a hit this year as investors fear further market gains from Amazon. In 2017, Amazon has jumped 25.6%. Amazon's stock fell about 0.7% on Thursday, however.
On the data front, the number of Americans filing for unemployment benefits fell last week, pointing to a further tightening in the labour market that could encourage the Federal Reserve to lay out a plan to start unwinding its balance sheet. Initial claims for state unemployment benefits totaled 234,000, below expectations of 238,000.
Investors set their sights on Jackson Hole, Wyoming as leaders of global central banks are set to gather for the annual Jackson Hole economic symposium. Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi will both be attending, and are scheduled to speak about global monetary policy on Friday.
Prices for the benchmark 10-year Treasury note lost ground, raising yields to Wednesday’s 2.19%. Treasury prices and yields move in opposite directions.
Oil prices slumped $1.09 to $47.32 U.S. a barrel
Gold prices removed $2.10 to $1,292.60 U.S. an ounce.
