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TSX snaps three-day win streak as U.S. PPI, Retail Sales keep markets cautious

Published 2024-03-14, 02:48 p/m
Updated 2024-03-14, 05:10 p/m
© Reuters.

Investing.com - Canada’s main stock index lost 0.64% to close at 21,829 points on Thursday, snapping a three day winning streak after closing just 120 points below a new all-time high on Thursday.

The S&P/TSX Composite tracked Wall Street lower on Thursday, as hotter than expected U.S. PPI data, and lower than expected retail sales growth weighed on investor sentiment.

The biggest gainers of the session on the S&P/TSX Composite were Lithium Americas Corp (TSX:LAAC) (TSX:LAC), which rose 5.58% or 0.43 points to trade at 8.13 at the close.

Lithium America shares soared to the top of the TSX after the announcement that the U.S. Department of Energy has agreed to a conditional commitment loan of U.S. $2.26 billion to finance the construction of its mine, the Thacker Pass project, in Nevada.

Transcontinental (TSX:TCLa) Inc (TSX:TCLa) added 5.53% or 0.79 points to end at 15.08 and Wesdome Gold (TSX:WDO) Mines Ltd. (TSX:WDO) was up 4.19% or 0.39 points to 9.70 in late trade.

Biggest losers included Jamieson Wellness (TSX:JWEL) Inc (TSX:JWEL), which lost 11.69% or 3.45 points to trade at 26.05 in late trade Jamieson Wellness Inc fell to the bottom of the TSX after an earnings miss. The company reported quarterly adjusted earnings of 67 cents​​ per share for the quarter ended in December, higher than the earnings per share of 62 cents a year earlier, but missing analyst expectations for earnings of 73 cents per share.

Enghouse Systems Ltd (TSX:ENGH) (TSX:ENGH) declined 6.89% or 2.39 points to end at 32.30 and First Quantum Minerals (TSX:FM) Ltd . (TSX:FM) shed 5.38% or 0.80 points to 14.06.

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On Wall Street meanwhile, the S&P 500 fell 0.2%, NASDAQ Composite fell 0.3%, and the Dow Jones Industrial Average fell 0.4%.

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