Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Stocks Bruised to End Tough Week

Published 2024-10-25, 12:22 p/m
© Reuters.  Stocks Bruised to End Tough Week
US500
-
DJI
-
DOW
-
GOLD
-
IXIC
-
IAG
-
US10YT=X
-
GSPTSE
-
BEI_u
-
CLS
-
SIA
-
TVE
-
SPCDNX
-
QSR
-
TLRY
-
PET
-
SVI
-

Baystreet.ca - Equities in Toronto ended the last full week of October much the way that week started, with negative readings.

The TSX lost 87.88 points to end Friday at 24,463.67. On the week, the index subtracted nearly 360 points or 1.45%.

The Canadian dollar moved sharply lower, 0.23 cents, to 71.96 cents U.S.

In corporate news, the West African country Mali accused Barrick Gold (NYSE:GOLD) of failing to abide by commitments made in a recent agreement, though the Canadian miner denied the allegations. Barrick shares began Friday down 76 cents, or 2.7%, to $27.39.

Elsewhere in gold, Iamgold deducted 26 cents, or 3.1%, to $8.05.

Canada's information technology added 0.7%, benefitting from a rise in Celestica (TSX:CLS) of $2.26, or 2.4%, to $96.25, as it continued its momentum from the previous session.

In real-estate, Storagevault took the elevator down 32 cents, or 7.1%, to $4.18, while units of Boardwalk REIT (TSX:BEI_u) sank $1.82, or 2.3%, to $76.60.

Consumer stocks also took a pounding, as Pet Valu (TSX:PET) lost 52 cents, or 2%, to $25.14, while Restaurant Brands International (TSX:QSR) let go of $1.98, or 2%, to $98.01.

Energy tried to show some light, as Kelt Exploration (TSX:KEL) acquired 17 cents, or 2.6%, to $6.63, while Tamarack Valley (TSX:TVE) Energy added seven cents, or 1.8%, to $4.00.

In health-care, Tilray (TSX:TLRY) jumped eight cents, or 3.5%, to $2.36, while Sienna Senior Living (TSX:SIA) took on five cents to $17.33. On the economic chart today, Statistics Canada reported retail sales increased 0.4% to $66.6 billion in August. Sales were up in four of nine subsectors and were led by increases at motor vehicle and parts dealers.

Elsewhere, the national housing price index remained unchanged for the second consecutive month in September. Prices were unchanged in 12 of the 27 census metropolitan areas (CMAs) surveyed, up in eight CMAs, and down in the remaining seven.

ON BAYSTREET

The TSX Venture Exchange was down 1.16 points, or 1.4%, to 619.91. The index gave up 1.76 points on the week, or 0.28%.

All but two of the 12 TSX subgroups had lost ground by noon, weighed most by gold, off 1.1%, while real-estate and communications each decreased 0.7%.

The two gainers were energy, up 0.9%, and health-care, ahead 0.4%.

ON WALLSTREET

The NASDAQ Composite Index soared to an all-time high on Friday, boosted by megacap tech stocks.

The Dow Jones Industrials stumbled 259.96 points to complete Friday at 42,114.40

The S&P 500 ditched 1.4 points to 5,808.12.

The NASDAQ grabbed 103.12 points to end the day and week at 18,518.61.

Tech stocks boosted the market ahead of their upcoming earnings. Nvidia (NASDAQ:NVDA) rallied about 0.7%, and shares of Meta (NASDAQ:META), Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT) and Netflix (NASDAQ:NFLX) were also higher. On the earnings front, HCA (NYSE:HCA) Healthcare lost 10% after reporting hurricane disruptions hit its quarterly earnings and full-year guidance, while Colgate-Palmolive (NYSE:CL) shares shed 4% after the company reduced the low-end of its sales estimate for the year.

Both the S&P 500 and Dow were on track to snap a six-week winning streak. The former is down 1% week to date, while the latter has shed 2.7%. The NASDAQ, meanwhile, is on pace for its seventh weekly gain, advancing 0.1% this week.

Prices for the 10-year Treasury were neutral Friday, keeping yields at Thursday’s 4.24%,

Oil prices increased $1.48 to $71.67 U.S. a barrel.

Prices for gold vaulted $7.20 an ounce to $2.756.10 U.S.

This content was originally published on Baystreet.ca

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.