Stock indexes moved a bit closer to the breakeven point by the end of Thursday’s trading session, as weakness in consumer indexes was nearly counteracted by might in the health-care sector.
The S&P/TSX Composite Index came off its lows of the day, but remained negative 51.36 points to close Thursday at 16,179.89
The Canadian dollar perked 0.38 cents at 75.39 cents U.S.
Among consumer discretionary issues, Magna International stumbled $2.75, or 3.4%, to $77.86, while Gildan Activewear dropped 21 cents to $36.90
Among materials issues, Teck Resources slipped 58 cents, or 1.7%, to $32.66, while Denison Mines lost three cents, to 4.6%, to 63 cents.
In the energy sector, Suncor fell back 48 cents to $52.85, while Imperial Oil doffed 23 cents to $43.24.
Health-care stocks stood out amid the general gloom, as Canopy Growth leaped $3.53, or 9.6%, to $40.46, while cannabis rival Aphria gained 54 cents, or 4.6%, to $12.29.
Among consumer staples, Restaurant Brands gained 56 cents to $78.78.
On the economic front, Statistics Canada reports average weekly earnings of non-farm payroll employees were $995 in April, virtually unchanged compared with the previous month. In the 12 months to April, earnings were up 2.5%.
The agency adds that after rising rapidly from August to December 2017, earnings have been relatively stable since the start of 2018.
Elsewhere on the macroeconomic front, the effects of U.S. tariffs and tighter mortgage rules will "figure prominently" in the Bank of Canada's interest rate decision in July, but central bank Governor Stephen Poloz kept markets guessing on Wednesday on whether it would be a hike or a hold.
ON BAYSTREET
The TSX Venture Exchange poked ahead 0.51 points to 737.41
Eight of the 12 TSX subgroups were lower on the day, as consumer discretionary lost 0.9%, while materials dropped 0.8%, and energy fell 0.6%
The four gainers were led by health-care stocks, which surged 4.1%, while consumer staples and information technology forged ahead 0.3% each.
ON WALLSTREET
Equities rebounded from earlier losses Thursday afternoon as both bank and technology stocks led the three major indexes higher.
The Dow Jones Industrials gained 98.46 points to finish Thursday to 24,216.05, with Boeing as the best-performing stock in the index.
The S&P 500 recovered 16.68 points to 2,716.31, as financials, technology and telecoms outperformed.
The NASDAQ regained 58.6 points to 7,503.68, as Amazon rose 2.4% after buying an online pharmacy.
Shares of J.P. Morgan, Goldman Sachs, Citigroup, Morgan Stanley and Bank of America all rose more than 1% lifting the financials sector
Equities have been under pressure this week, however, as trade tensions between the U.S. and some of its biggest trade partners have mounted. The Dow, S&P 500 and NASDAQ composite all remain down at least 1.4% since Monday.
Walgreens Boots Alliance dropped 9.9% and CVS Health fell 6.1%, after Amazon announced it had bought PillPack, an online pharmacy.
The move likely hints at Amazon's goal venture into the health-care industry, where it could threaten to remove one of the few distinguishing factors pharmacy chains have relied on to fend off the e-commerce giant, the sale of prescription drugs.
Prices for the benchmark for the 10-year U.S. Treasury lost ground, raising yields to 2.84% from Wednesday’s 2.83%. Treasury prices and yields move in opposite directions.
Oil prices gathered 56 cents to $73.32 U.S. a barrel.
Gold prices slipped $6.50 to $1,249.60 U.S. an ounce.
