Canada's main stock index faltered to end the week Friday, with broad-based losses dragging the index lower Friday. Investors weighed the Middle East tensions, while easing oil prices for a third straight session did little to help the sentiment.
The TSX subsided 67.61 points to close Friday at 35,806.65. On the week, though, the index gained nearly 170 points, or 0.48%.
The Canadian dollar inched up 0.01 cents to 71.49 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 $7.03, or 5.1%, to $132.18. 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.
Consumer staples led the decliners, as Empire Company docked 91 cents, or 1.2%, to $79.01, or George Weston dipped $2.12, or 2.1%, to $99.30.
Energy issues also took their lumps, Paramount Resources skidded 96 cents, or 2.9%, to $32.23, while Canadian Natural Resources dished off $1.45, or 2.1%, to $69.38.
TELUS weighed telecoms down, off 17 cents, or 1.4%, to $12.30, while BCE fell 34 cents, or 1.1%, to $30.87.
Linamar lost $3.39, or 3.4%, to $96.20, and Magna International was down $2.19, or 2.4%, to $88.58 after BMO Capital Markets cut the stocks' rating.
Financials proved the only positive sector, with Sprott acquiring $3.42, or 2.2%, to $178.80, while Brookfield Asset Management strengthened 88 cents, or 1.4%, to $64.44.
ON BAYSTREET
The TSX Venture Exchange changed gears and gained 3.46 points to 923.07, for a gain on the week of 7.7 points, or 0.84%.
All but one of the 12 subgroups sank on the day, with consumer staples down 1%, while energy and telecoms each down 0.9%.
Only financials bucked the trend, gaining 0.2%.
ON WALLSTREET
The Dow Jones Industrial Average slid on Friday as traders wrapped up a volatile week and navigated another rise in Treasury yields and oil prices along with the Federal Reserve’s first rate hike in three years.
The 30-stock index stumbled 96.11 points to 51,681.93
The S&P 500 Index changed directions and headed higher 12.47 points to 7,650.24.
The NASDAQ Composite regained 104.25 points to 26,522.55.
Goldman Sachs and Bank of America went lower, with both banks dropping around 8% this week. Both stocks were poised to record their largest weekly slides going back to April 2025.
On the other hand, Coinbase climbing 11% and FactSet gained 9%.
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 retreated $2.21 to $99.70 U.S. a barrel.
Gold prices recovered $19.50 to $4,419.20 U.S. an ounce.
