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TSX Continues Negative

United, Caterpillar in Focus

Equities in Canada’s largest centre fell on Friday and was eyeing its fourth straight week of losses, as investors weighed the U.S. Federal Reserve's stance of keeping interest rates elevated for longer.

The TSX Composite Index removed 148.15 points to 21.549.96.

The Canadian dollar handed over 0.03 cents to 72.73 cents U.S.

Among single stocks, Bitfarms gained 3.1%. Rival Riot Platforms said on Thursday it had raised its stake in the bitcoin miner to 14% from ~13.7% earlier this week amid its hostile takeover attempt.

Neo Performance Materials jumped 13.1% after the Canadian rare earths company said it would be undertaking a comprehensive strategic review, which could include a sale, divestiture, merger or other business combinations.

Shopify advanced 3.1% after Evercore ISI upgraded the e-commerce firm to "outperform" from "in line" on its strong competitive position.

On the macroeconomic calendar, April wholesale trade Wholesale sales grew 2.4% to $83.3 billion in April, while manufacturing sales increased 1.1% in April, mainly due to higher sales of transportation equipment as well as primary metals. Production of aerospace products and parts declined the most.

Motor vehicles sales in this country totaled 175,100 in April, compared to 171,600 the month before.


The TSX Venture Exchange dropped 2.66 points to 572,54.

All but one of the 12 subgroups were negative, weighed most by communications, down 1.7%, consumer staples, lower by 1.5%, and consumer discretionary, off 1.2%.

Only information technology held out against the negative tide, gaining 0.6%.


The S&P 500 fell Friday, pulling back from record highs after a decline in consumer sentiment.

The Dow Jones Industrials lost 99.79 points to 38,547.31.

The much-broader index gave back 12.1 points to 5,421.64

The NASDAQ stepped back 15.41 points to 17,652.15.

Elsewhere, software giant Adobe leapt 14% Friday after fiscal second-quarter results surpassed Wall Street estimates. Shares of Caterpillar led the Dow lower, while Carnival, Norwegian Cruise Line and United Airlines were the biggest laggards in the S&P 500. The energy sector was also trading in the red on Friday.

The University of Michigan’s Survey of Consumers showed that consumer sentiment declined to 65.6 in June, down from 69.1 in May. This reading also came below the 71.5 Dow Jones estimate.

Wholesale inflation unexpectedly ticked down by 0.2% last month, while economists polled by Dow Jones expected the gauge to increase by 0.1%. That follows a consumer price index reading that was flat on a monthly basis in May.

Stocks are coming off a winning session that saw the S&P 500 notch its fourth straight record close. The technology-heavy NASDAQ Composite also ended the session at a record.

Prices for the 10-year Treasury gained ground, lowering yields to 4.22% from Thursday’s 4.24%. Treasury prices and yields move in opposite directions.

Oil prices slid 40 cents to $78.22 U.S. a barrel.

Gold prices regained $27.10 to $2,349.10