TSX Opens Lower as Resource, Health-care Stocks Drag

Canada's stock index opened slightly lower on Friday after a selloff in the previous session, as losses in healthcare and mining weighed. The TSX lost 107.42 points to close Thursday at 25,309.29 The Canadian dollar ditched 0.11 cents to 70.23 cents U.S. In corporate news, the U.S. Federal Reserve said on Thursday it had approved an application by Scotiabank to buy up to 14.99% of the voting shares in U.S. regional lender KeyCorp, as the Canadian bank looks to boost its exposure to developed markets. Scotiabank shares gained 16 cents to $78.74. In economic news, motor vehicle sales registered at 163,600 in October, less than the 166,600 figures from August. Manufacturing numbers increased 2.1% in October, mainly on higher sales of petroleum and coal products as well as of transportation equipment. Sales in the paper subsector declined the most. Wholesale sales rose 1.0% to $83.7 billion in October. ON BAYSTREET The TSX Venture Exchange slid 4.16 points to 607.72. All but two of the 12 TSX subgroups lost ground early Friday, weighed most by gold, slipping 2%, materials, down 1.9%, and energy, off 1.4% The two gainers were information technology, up 0.7%, while consumer staples picked up 0.6%. ON WALLSTREET The S&P 500 rose Friday, boosted by gains in tech, but the benchmark was still on track for its first weekly decline in four weeks. The Dow Jones Industrial index retreated 9.04 points Friday to 43,905.08, after six straight losing days. The much-broader index eked ahead 4.5 points to 6,055.75 The tech-heavy NASDAQ restored 54.99 points to 19,957.83. Broadcom hit $1 trillion in market cap, rallying more than 21% after posting fiscal fourth quarter adjusted earnings that beat estimates and reporting that artificial intelligence revenue soared 220% for the year. Micron and Nvidia followed Broadcom higher in morning trading. For the week, the Dow is heading for a 1.6% decline, while the S&P 500 is on pace for slide of 0.5%. The latter is on pace to end a three-week winning streak. The NASDAQ has outperformed, on track for a 0.5% advance for the period. Prices for the 10-year Treasury shrank, raising yields to 4.37% from Thursday’s 4.33%. Treasury prices and yields move in opposite directions. Oil prices revived 45 cents to $70.47 U.S. a barrel. Prices for gold settled $36.00 an ounce to $2,673.40 U.S.

KimKardashian

Dec 15, 2024 - 08:55

4070

TSX Opens Lower as Resource, Health-care Stocks Drag

Canada's stock index opened slightly lower on Friday after a selloff in the previous session, as losses in healthcare and mining weighed.

The TSX lost 107.42 points to close Thursday at 25,309.29

The Canadian dollar ditched 0.11 cents to 70.23 cents U.S.

In corporate news, the U.S. Federal Reserve said on Thursday it had approved an application by Scotiabank to buy up to 14.99% of the voting shares in U.S. regional lender KeyCorp, as the Canadian bank looks to boost its exposure to developed markets. Scotiabank shares gained 16 cents to $78.74.

In economic news, motor vehicle sales registered at 163,600 in October, less than the 166,600 figures from August. Manufacturing numbers increased 2.1% in October, mainly on higher sales of petroleum and coal products as well as of transportation equipment. Sales in the paper subsector declined the most. Wholesale sales rose 1.0% to $83.7 billion in October.

ON BAYSTREET

The TSX Venture Exchange slid 4.16 points to 607.72.

All but two of the 12 TSX subgroups lost ground early Friday, weighed most by gold, slipping 2%, materials, down 1.9%, and energy, off 1.4%

The two gainers were information technology, up 0.7%, while consumer staples picked up 0.6%.

ON WALLSTREET

The S&P 500 rose Friday, boosted by gains in tech, but the benchmark was still on track for its first weekly decline in four weeks.

The Dow Jones Industrial index retreated 9.04 points Friday to 43,905.08, after six straight losing days.

The much-broader index eked ahead 4.5 points to 6,055.75

The tech-heavy NASDAQ restored 54.99 points to 19,957.83.

Broadcom hit $1 trillion in market cap, rallying more than 21% after posting fiscal fourth quarter adjusted earnings that beat estimates and reporting that artificial intelligence revenue soared 220% for the year. Micron and Nvidia followed Broadcom higher in morning trading.

For the week, the Dow is heading for a 1.6% decline, while the S&P 500 is on pace for slide of 0.5%. The latter is on pace to end a three-week winning streak. The NASDAQ has outperformed, on track for a 0.5% advance for the period.

Prices for the 10-year Treasury shrank, raising yields to 4.37% from Thursday’s 4.33%. Treasury prices and yields move in opposite directions.

Oil prices revived 45 cents to $70.47 U.S. a barrel.

Prices for gold settled $36.00 an ounce to $2,673.40 U.S.