Canadian stocks experienced a mixed performance on Friday, with the S&P/TSX Composite Index experiencing a minor loss while gains were seen in energy stocks. The index closed down 57.43 points at 20,074.65, despite edging higher in late-morning trading by 7.13 points, or 0.04 per cent, to reach 20,139.21.
The weakness in the Canadian market was broad-based, with notable declines led by metals and tech stocks. This offset the strength seen in the energy sector, leading to an overall downturn for the day.
In contrast, U.S. markets eked out slim gains on Friday. The Dow Jones Industrial Average was up 75.86 points at 34,576.59, while the S&P 500 Index rose by 6.35 points to reach 4,457.49. The Nasdaq Composite also saw an uptick of 12.70 points to close at 13,761.53.
On the commodities front, the October crude contract was up 64 cents at $87.51 per barrel and the October natural gas contract rose three cents to $2.61 per mmBTU. Meanwhile, the December gold contract saw a minor increase of 20 cents to close at $1,942.70 an ounce while the December copper contract declined five cents to US$3.72 a pound.
The Canadian dollar traded for 73.36 cents U.S., up from Thursday's rate of 73.13 cents U.S.
This shift in the Canadian market comes amidst rising bond yields which are expected to negatively impact Canadian stocks and have sparked suggestions to move away from TSX-listed securities.
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