Equities in Toronto fell on Thursday, after hitting their highest perch since February in the previous session, pressured by losses in technology companies.
The TSX drooped 38.92 to pause for lunch at 17,520.94.
The Canadian dollar vaulted 0.65 cents to 78.61 cents U.S.
Canada on Wednesday approved its first COVID-19 vaccine and said initial shots will be delivered and administered across the country starting next week, while every Canadian will be able to be inoculated as early as the end of September.
Kinaxis fell 98 cents to $178.88, and Lightspeed POS tumbled $1.70, or 2.3%, to $72.42.
Apparel maker Canada Goose Holdings retreated $1.80, or 4.4%, the most on the TSX, to $39.50
The largest percentage gainer on the TSX was MEG Energy, which jumped 35 cents, or 8.3%, to $4.59, after Goldman Sachs raised its price target, followed by Whitecap Resources, which rose 37 cents, or 8.2%, to $4.89.
ON BAYSTREET
The TSX Venture Exchange eked higher 1.89 points, after Wednesday’s heavy losses to 772.44.
All but three of the 12 TSX subgroups were still in minus country midday, with gold down 1.5%, communications sliding 1.4%, and materials off 1.1%.
The three gainers were energy, soaring 4.1%, real-estate up 0.5%, and information technology acquiring 0.3%.
ON WALLSTREET
The Dow Jones Industrial Average fell on Thursday following the release of weaker-than-expected jobless claims data at a time when lawmakers struggle to push through new fiscal stimulus before year-end.
The 30-stock index tumbled 116.47 points to 29,952.23. Verizon and American Express were the worst-performing Dow stocks, falling more than 1% each.
The S&P 500 dropped 8.45 points to 3,664.37.
The NASDAQ stayed positive, however, 33.57 points to 12,372.52.
Initial weekly jobless claims jumped to 853,000 last week, topping a Dow Jones estimate of 730,000. That marks the highest number of initial claims being filed since September and the first time since October that they topped 800,000.
Thursday’s report stoked fears about economic recovery moving forward as Congress tries to put together a new stimulus package.
Senate Majority Leader Mitch McConnell said he wants Congress to pass a coronavirus relief bill with neither legal immunity for businesses nor state and local government relief. Senate Minority Leader Chuck Schumer said McConnell’s proposal to move stimulus talks forward without state and local government aid is not in good faith.
The House of Representatives passed a government funding extension Wednesday that would keep the federal government running through Dec. 18 and buy time for further negotiations for a bigger relief bill.
Prices for the 10-Year Treasury gained a bit of ground, lowering yields to 0.93% from Wednesday’s 0.94%. Treasury prices and yields move in opposite directions.
Oil prices surged $1.90 to $47.42 U.S. a barrel.
Gold prices forged ahead $1.30 to $1,839.80.
