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Stocks Bruised to End Tough Week

Nvidia, Colgate in Focus


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 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 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 sank $1.82, or 2.3%, to $76.60.

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

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

In health-care, Tilray jumped eight cents, or 3.5%, to $2.36, while Sienna Senior Living 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 rallied about 0.7%, and shares of Meta, Amazon, Microsoft and Netflix were also higher. On the earnings front, HCA Healthcare lost 10% after reporting hurricane disruptions hit its quarterly earnings and full-year guidance, while Colgate-Palmolive 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.