Brand New State Ok promo

TSX Reports Losses on Black Friday



Canada’s main stock index opened lower on Friday, with industrials and technology shares leading declines, while investors assessed a hotter-than-anticipated retail sales number.

The TSX Composite subtracted 30.95 points to begin the week’s last session at 20,085.71.

The Canadian dollar climbed 0.35 cents at 73.36 cents U.S.

Among individual stocks, Panama’s top court is expected to start deliberations on Friday to rule on several constitutional challenges to First Quantum Minerals’ contract for the Cobre Panama mine. First Quantum shares dumped 50 cents, or 3.7%, to $13.16.

On the economic calendar, Statistics Canada said retail sales increased 0.6% to $66.5 billion in September. Sales were up in four of nine subsectors and were led by increases at motor vehicle and parts dealers.

ON BAYSTREET

The TSX Venture Exchange picked up 2.64 points to 532.76.

All but three of the 12 TSX subgroups were lower, as consumer discretionary let go of 0.9%, while information technology faded 0.5%, and real-estate weakened 0.4%.

The three gainers proved to be energy, up 0.3%, while materials and health-care forged ahead 0.1% each.

Health-care stocks were unchanged.

Oil prices fell 75 cents to $76.35 U.S. a barrel.

Gold prices surged 50 cents to $1,993.30 U.S. an ounce.

ON WALLSTREET

Stocks were little changed Friday, as the major averages aimed for a four-week winning streak.

The Dow Jones Industrials gained 96.49 points to open an abbreviated Black Friday at 35,369.52.

The S&P 500 eked up 0.97 points to 4,557.59.

The NASDAQ brushed off 13.87 points to 14,251.99.

Major retail shares were mixed in trading as Black Friday kicked off the holiday shopping season. Walmart was up 0.3%, while Amazon declined 0.4%.

For the week, the Dow and S&P 500 are up 1% each. The Nasdaq Composite is also up 1% in that time. It would be the longest weekly winning streak for the S&P 500 and NASDAQ since June. The Dow, meanwhile, hasn’t posted a weekly run this long since April.

The U.S. stock market closes at 1 p.m. after being closed Thursday due to the Thanksgiving holiday. On Wednesday, the major averages closed higher after the 10-year Treasury yield fell to levels not seen since September.

Prices for the 10-year Treasury faded, raising yields to 4.47% from Wednesday’s 4.41%. Treasury prices and yields move in opposite directions.

Oil prices sank 42 cents to $76.68 U.S. a barrel.

Gold prices sank $9.80 to $2,002.60.



Source link

About The Author

Scroll to Top