Canada’s largest stock market dwindled into the red late Thursday morning, as losses in utilities overrode gains in health-care and consumer discretionary issues.
The S&P/TSX Composite Index dropped 2.81 points to greet noon Thursday at 16,147.11
The Canadian dollar eked higher 0.08 cents to 77.46 cents.
Prime Minister Justin Trudeau said on Wednesday he wanted to see flexibility from the United States if the two sides are to reach a deal on renewing the North American Free Trade Agreement, which Washington insists must be finished by the end of the month.
The largest percentage gainer on the TSX was Aurora Cannabis, up 37 cents, or 3.4%, to $11.24. The company is looking to list its shares in the U.S. in October, according to a Financial Post report.
Canopy Growth Corporation acquired 59 cents to $64.05.
Shares of Bank of Nova Scotia obtained 46 cents to $77.25, while Toronto-Dominion Bank took on 27 cents a share to $79.58.
Magna International jumped $1.78, or 2.5%, to $72.11.
Among utilities, Hydro One doffed 28 cents, or 1.4%, to $19.62. Fortis Inc. shed 59 cents, or 1.4%, to $41.68.
Energy stocks were also weaker, as Trican Well Service was down 18 cents, or 7.2%, to $2.33.
New Gold fell 21 cents, or 14.6%, the most on the TSX, to $1.23, shortly before noon, while Barrick Gold lost eight cents to $13.63
On the economic calendar, Statistics Canada reported that, in July, 475,000 people received regular Employment Insurance benefits, an increase of 11,000, or 2.4%, from June.
ON BAYSTREET
The TSX Venture Exchange remained positive 2.35 points to 716.80, off its highs of the morning
Seven of the 12 subgroups were lower late in the morning, with utilities slipping 1.2%, energy down 0.9%, and gold, off 0.5%.
The five gainers were led by health-care, up 1.8%, consumer discretionary stocks, up 0.9%, and financials, ahead 0.3%.
ON WALLSTREET
The Dow Jones Industrial Average hit its first record high since January on Thursday as gains in Apple and a decrease in trade fears lifted the 30-stock index.
The blue chips surged 241.17 points to 26,646.93, as Boeing, Caterpillar and Apple outperformed.
The S&P 500 popped 19.88 points to 2,927.83, an all-time high, its first since late August, as materials and tech outperformed.
The NASDAQ recovered 66.53 points to 8,016.57, as Amazon gained 1.1% ahead of an event where they are expected to unveil new Alexa-powered devices. Apple, meanwhile, jumped 1.6%.
Boeing hiked 1.2%, and Caterpillar, another bellwether for trade, rose 2.1%.
As tensions between the two largest economies in the world slap tariffs on each other's goods, the Chinese commerce ministry said Thursday the country hopes the U.S. will take steps to correct its behavior.
General Electric shares fell 2% after an analyst at J.P. Morgan slashed his price target on the company to $10 from $11. The analyst noted he expects "weaker results at power and some franchise value impact."
Nvidia slipped 1.6% after analysts at Morgan Stanley called the company's new gaming card disappointing.
Prices for the benchmark for the 10-year U.S. Treasury inched up, lowering yields to 3.07% from Wednesday’s 3.08%. Treasury prices and yields move in opposite directions.
Oil prices eased five cents to $71.07 U.S. a barrel.
Gold prices cleared breakeven 70 cents to $1,209.00 U.S. an ounce.
