Brand New State Ok promo

TSX Static by Noon


Canada’s main stock index was little changed on Friday, with gains in technology shares offset by losses in utilities, while investors looked ahead to the U.S. Federal Reserve’s meeting next week for cues on the interest rate trajectory.

The TSX Composite eked up 11.88 points halfway through the week’s final session at 21,113.42.

The Canadian dollar gained 0.13 cents at 74.32 cents U.S.

Technology firms led gainers, as Bitfarms soared 36 cents, or 12.9%, to $3.16, while HUT 8 Mining picked up 91 cents, or 9.1%, to $10.95.

Energy issues weighed, Athabasca Oil dropped 12 cents, or 2.7%, to $4.36, while Baytex Energy dropped a dime, or 2.3%, to $4.22.

ON BAYSTREET

The TSX Venture Exchange was down 0.78 points Friday at 549.39.

The 12 subgroups were evenly divided, information technology climbing 1.3%, while consumer discretionary and real-estate each picking up 0.5%.

The half-dozen laggards were weighed most by energy, sliding 0.6%, while materials dipped 0.4%, and utilities fell 0.3%.

ON WALLSTREET

The S&P 500 inched higher on Friday, extending weekly gains as the latest economic data added to a positive picture of the economy.

The Dow Jones Industrials paused for lunch up 110.66 points to 38,159.79.

The S&P 500 index revived 5.16 points to 4,899.32.

The NASDAQ gained 0.45 points to 15,510.94.

The major averages are also tracking for a winning week. The S&P 500 and technology-heavy NASDAQ Composite have advanced more than 1% each, while the blue-chip Dow has gained 0.8%.

But selloffs among some well-known stocks on the back of earnings reports restricted gains.

Chipmaker Intel dropped more than 11% on Friday after offering a disappointing fiscal first-quarter outlook. Semiconductor stock KLA Corp slid more than 5% in the session after the company posted light guidance for its fiscal third quarter.

Elsewhere, Tesla, a retail investor darling, was on pace for its worst week since October. Shares took a leg down after the electric vehicle maker posted disappointing earnings and warned of trouble in 2024.

Stocks got a boost this week from encouraging economic data. More positive numbers came Friday.

December’s core personal consumption expenditures price index came in line with economists’ forecasts month over month, but was slightly lower than anticipated on an annualized basis, data released Friday shows. It’s a preferred gauge of inflation for the Federal Reserve, which sets monetary policy.

Friday’s PCE print came a day after gross domestic product data revealed higher-than-expected economic growth in the fourth quarter. That bolstered investors’ hopes that the economy has avoided a deep recession.

Prices for the 10-year Treasury reversed, raising yields to 4.14% from Thursday’s 4.13%. Treasury prices and yields move in opposite directions.

Oil prices dipped $1.18 to $76.18 U.S. a barrel.

Gold prices fell 30 cents to $2,017.50.



Source link

About The Author

Scroll to Top