Stocks in Canada’s financial centre were flat on Friday as declines in energy and mining stocks offset gains in other sectors, led by consumer discretionary and consumer staples companies.
The S&P/TSX Composite Index dawdled 11.01 points to greet noon at 15,161.71
The Canadian dollar dipped 0.2 cents to 82.04 cents U.S.
Wheaton Precious Metals fell 1.5% to $23.80, and Agnico Eagle Mines was down 1% to $58.91. The two miners were among the most influential drags on the index, while the overall materials group lost ground.
The Stars Group, formerly known as gaming company Amaya, saw shares jump 9.4% to $23.32 after it raised its 2017 outlook and announced an additional debt prepayment. The broader consumer discretionary group enjoyed gains, however limited.
Pyongyang fired a missile that flew over Japan's northern Hokkaido far out into the Pacific Ocean on Friday, ratcheting up tensions after the country's recent test of its most powerful nuclear bomb.
On the economic slate, the Canadian Real Estate Association reported national home sales rose 1.3% from July to August.
Bank of Canada senior deputy governor Carolyn Wilkins said on Thursday that, while the central bank’s inflation targeting regime has worked well, the bank is open to alternatives and wants to communicate in a way that avoid unproductive volatility
ON BAYSTREET
The TSX Venture Exchange was up 1.56 points noon hour ET to 777.80
Six of the 12 TSX subgroups were negative by noon, as energy skidded 0.6%, gold was off 0.5%, and utilities were off 0.3%.
Consumer discretionary issues were up 0.7%, while consumer staples climbed 0.6% and health-care were haler by 0.4%.
Real-estate stocks were unchanged midday.
ON WALLSTREET
U.S. stocks rose to record levels on Friday, led by tech issues, and were set to post strong weekly gains.
The Dow Jones Industrials gained 46.72 points to a new record of 22,250.20, with Boeing and Apple contributing the most to the gains.
The S&P 500 regained 2.55 points to 2,498.17, with information technology and telecommunications leading advancers.
The NASDAQ regained 24.49 points to 6,453.57, and also managed an intraday record.
Tech stocks kicked off the session among the worst performers before turning around in late-morning trading. Shares of Apple, Netflix and Facebook all traded higher.
The three major indexes entered Friday having gained at least 1%. The Dow was also on pace for its biggest weekly gain since the week of Dec. 9.
The U.S. Labor Department said Thursday the Consumer Price Index rose 1.9% last month on a year-over-year basis. Experts say market expectations for a December Fed rate hike are now at 52.9%.
Wall Street digested two key data sets Friday ahead of the Fed's meeting. Retail sales for August fell 0.2%. Economists expected a 0.1% gain. Meanwhile, industrial production fell nearly 1% last month.
Prices for the benchmark 10-year Treasury note were lower, raising yields to 2.2% from Thursday’s 2.19%. Treasury prices and yields move in opposite directions.
Oil prices gave back 11 cents to $49.78
Gold prices stepped back $2.10 to $1,327.20 U.S. an ounce.
