Canada's main stock index slipped on Friday, with broad-based losses dragging the index lower, as investors weighed the Middle East tensions, while easing oil prices for a third straight session did little to help the sentiment.
The TSX subsided 165.68 points to begin the week’s last session at 35,708.58. On the week so far, the index has gained 71 points, or 0.2%.
The Canadian dollar inched down 0.08 cents to 71.40 cents.
Investors will also look ahead to a meeting between US President Donald Trump and Chinese President Xi Jinping next week, with the discussions likely to focus on tensions in the Gulf region among other issues.
The benchmark stock index is heading for its first weekly gain in five as easing oil prices and the Fed's focus to combat inflation helped improve investor sentiment.
Shares of Thomson Reuters declined $4.20, or 3%, to $135.01. OpenAI on Thursday released a legal industry-focused version of its latest AI technology, GPT-6 Astra, that it said is designed to help law firms and legal software providers.
Linamar lost $3.43, or 3.4%, to $96.33, and Magna International were down $2.26, or 2.5%, to $88.51 after BMO Capital Markets cut the stocks' rating.
ON BAYSTREET
The TSX Venture Exchange settled 5.62 points to 913.99, for a loss on the week so far of 1.4 points, or 0.14%.
All but three 12 subgroups were in the green by the close, led by gold and materials, each up 3.1%, while utilities perked 1.2%.
The three laggards proved to be telecoms, down 1.1%, while consumer discretionary stocks lost 0.6%, while consumer staples eased 0.04%.
ON WALLSTREET
The S&P 500 fell on Friday and headed for a losing week, even after the index rebounded following Wednesday’s first Federal Reserve interest rate hike in three years.
The Dow Jones Industrials jumped 316.14 points to 51,778.04
The much-broader index skidded 9.99 points to 7,627.77.
The NASDAQ Composite deleted 4.23 points to 26,414.07.
With Friday’s moves, the major stock averages are on pace for a mixed week. The Dow is down by 2% this week, on track for a third straight losing week. The S&P 500 was also lower week-to-date by 0.5%. Only the tech-heavy NASDAQ is set to post weekly gains, up 0.3%.
Prices for the 10-year Treasury stumbled, raising yields to 5.01% from Thursday’s 4.93%. Treasury prices and yields move in opposite directions.
Oil prices gained 33 cents to $102.24 U.S. a barrel.
Gold prices gained 60 cents to $4,399.10 U.S. an ounce.
