Shares in Toronto's main stock index hovered around five-month lows on Friday, tracking a global selloff and lower oil prices, while the Canadian dollar weakened to a 19-month low.
The S&P/TSX Composite Index moved back into negative territory, losing 26.19 points to greet noon at 14,115.58
The Canadian dollar dipped 0.32 cents to 73.76 U.S.
The largest percentage gainer on the TSX was Bombardier, which jumped four cents, or 2%, to $4.00, after the company received additional orders for its Francilien trains, in a deal valued at about $378 million.
Maxar Technologies fell 94 cents, or 6.1%, the most on the TSX, while Husky Energy 43 cents, or 3%, to $13.84, was the second biggest decliner.
Health-care stocks continued to take their lumps, with Bausch Health Companies going south 67 cents, or 2.7%, to $24.62, while Aphria capsized 20 cents, or 2.8%, to $6.84.
Consumer discretionary did their bit to keep things merry and bright, as Canadian Tire gathered $2.61, or 1.9%, to $142.76, and Magna International prospered 88 cents, or 1.5%, to $61.78.
Real-estate had a good morning, too, as Colliers International Group gained $1.25, or 1.7%, to $72.90.
On the economic slate, Statistics Canada reported that real gross domestic product expanded 0.3% in October, following a 0.1% decrease in September.
The agency also reports that there was growth in 15 of 20 industrial sectors, led by increases in manufacturing, finance and insurance and wholesale trade.
What’s more, retail sales increased 0.3% to $51.0 billion in October. Higher sales at motor vehicle and parts dealers and gasoline stations were the main contributors to the gain. Excluding these two sub-sectors, retail sales declined 0.4%.
ON BAYSTREET
The TSX Venture Exchange fell 0.84 points to 536.17
Seven of the 12 TSX subgroups moved higher by noon, with consumer discretionary stocks progressing 1.2%, real-estate up 0.5%, materials up 0.3%.
The five laggards were weighed most by health-care, subsiding 2.4%, information technology folding 1.9%, and communications down 0.5%.
ON WALLSTREET
U.S. stocks traded mostly higher Friday after New York Federal Reserve President John Williams said the central bank could reassess its outlook for rate hikes and balance sheet reduction in 2019, though all three major indexes were still on track for one of their worst weeks of 2018.
The Dow Jones Industrials gained 104.59 points to 22,964.19.
The initial tick upward came as Federal Reserve Bank of New York President John Williams said that the central bank could reassess its interest rate policy and balance sheet reduction in the New Year if the economy slows.
Also supporting the Dow was athletic apparel company Nike, which rallied nearly 8% following strong earnings results.
The S&P 500 dropped 3.43 points – off its lows of the morning --to 2,463.99
The NASDAQ lost 67.58 points, or 1%, to 6,459.18, as technology shares rolled over.
However, stocks are on track for steep losses for the trading week and the month of December.
Here’s a review of the financial wreckage: The Dow and NASDAQ on Thursday posted their lowest closes since October 2017, while the S&P 500 finished at its lowest level since September 2017. The NASDAQ briefly entered a bear market before recovering.
The Dow and S&P 500 have each lost more than 4.5% this week; the Dow has shed more than 1,100 points since Monday.
The Dow and S&P 500, which are both in corrections, are on track for their worst December performance since the Great Depression in 1931, down more than 10% each this month.
The Dow is on track for its worst month since February 2009. Both the Dow and the S&P 500 are now in the red for 2018 by at least 7%.
Prices for the benchmark for the 10-year U.S. Treasury moved lower, raising yields back to Thursday’s 2.80%. Treasury prices and yields move in opposite directions.
Oil prices gained 30 cents to $46.18 U.S. a barrel.
Gold prices shrank $6.90 to $1,261.00 U.S. an ounce.
