Baystreet.ca - Equities in Canada’s largest centre searched for direction Friday, as investors digested somewhat weak employment figures.
The TSX Composite Index descended 51.84 points Friday to 22,173.77. The index is down 54 points, or 0.24%, over a short week following holiday Monday.
The Canadian dollar was unchanged at 72.80 cents U.S.
Among individual stocks, energy transportation company Pembina Pipeline (TSX:PPL) on Thursday raised its annual forecast for adjusted core profit. Pembina shares fell 22 cents to $52.77.
On the economic beat, Statistics Canada said Friday the economy ditched 2,800 jobs in July, but the unemployment rate was unchanged at 6.4%.
ON BAYSTREET
The TSX Venture Exchange lost 3.08 points to 538.51, for a loss on the week of nearly 17 points, or 3%.
Eight of the 12 TSX subgroups lost ground in the first hour, weighed most by utilities, sinking 1.3%, energy, down 0.7%, and industrials, off 0.6%.
The four gainers were led by financials, up 0.3%, while health-care and materials each advanced 0.2%.
ON WALLSTREET
U.S. stocks ticked down Friday as investors tried to recover the remaining losses stemming from the selloff earlier this week.
The Dow Jones Industrial index removed 70.55 points to 39,375.94.
The S&P 500 index shed 1.78 points to 5,317.53.
The NASDAQ fell 14.54 points to 16,645.48.
Paramount Global (NASDAQ:PARA) climbed around 3% after posting adjusted earnings that trounced estimates and announcing it’s cutting 15% of its U.S. workforce. E.l.f. Beauty slipped about 14% after posting cautious guidance.
The S&P 500 advanced 2.3% in Thursday’s session, its best day since November 2022, while the 30-stock Dow surged roughly 683 points. The tech-heavy NASDAQ Composite added 2.9%.
Nonetheless, the major averages remain negative on a week-to-date basis. The S&P 500 is off 0.5% this week, while the NASDAQ is off 0.7%, and the Dow is down 0.9%. Both the broad-market S&P 500 and the NASDAQ are on pace for their fourth losing week.
Prices for the 10-year Treasury gained ground lowering yields to 3.94% from Thursday’s 3.99%. Treasury prices and yields move in opposite directions.
Oil prices sagged 19 cents at $76.00 U.S. a barrel.
Gold prices took on $2.60 to $2,465.90.