Optimism about reaching a new North American Free Trade deal by the end of this week sputtered as Thursday wore on, pushing Canada's main index into negative territory, weighed largely by health-care and resource stocks
The S&P/TSX Composite Index dropped 18.74 points to conclude Thursday at 16,371.55
The Canadian dollar faded 0.36 cents to 77.09 cents
In health-care, Canopy Growth drooped $2.22, or 3.7%, to $57.55, while Aphria settled 29 cents, or 1.8%, to $16.01.
First Quantum Minerals slid 92 cents, or 5.2%, to $16.68. Teck Resources ailed 65 cents, or 2.1%, to $30.01. Agnico Eagle Mines fell 66 cents, or 1.4%, to $45.36.
Gold stocks were hit hard, too, as Goldcorp trailed 15 cents, or 1.1%, to $14.16, while Barrick Gold lost 11 cents to $13.60.
Tech stocks moved north, as Constellation Software climbed $27.48, or 2.9%, to $990.09, while Shopify picked up 84 cents to $188.11.
Among the biggest percentage gainers on the TSX was BRP Inc, which jumped $5.22, or 8%, to $70.37, after reporting better-than-expected quarterly results.
Westjet Airline gained nine cents to $19.19.
Among consumer staples, Saputo gained 17 cents to $40.31, while Loblaw Companies inched up 12 cents to $67.96.
On the economic beat, Statistics Canada reported Thursday that gross domestic product was essentially unchanged in June, following a 0.5% gain in May. Increases in 12 of the 20 industrial sectors were tempered by reduced output in non-conventional oil extraction and lower activity in wholesale and retail trade.
The average weekly non-farm earnings of Canadians were $1,000 in June, little changed from the previous month. Compared with 12 months earlier, earnings increased 2.8%.
ON BAYSTREET
The TSX Venture Exchange slid 6.55 points to 720.40
All but three of the 12 subgroups moved lower, as health-care stocks tumbled 2.5%, while materials and gold stocks each lost 1.3%
The three gainers were information technology, up 0.8%, industrials, up 0.6%, and consumer staples, better by 0.5%.
ON WALLSTREET
Stocks snapped a four-day winning streak Thursday after a report said President Donald Trump would support moving ahead with additional tariffs on Chinese imports as early as next week.
The Dow Jones Industrial Average shrank 137.65 points to 25,986.92
The S&P 500 slipped 12.91 points to 2,901.13,
The NASDAQ sank 21.32 points to 8,088.36, after reaching a record high. The indexes also closed lower for the first time in five sessions.
Various media reported that Trump told aides he supports moving forward with an additional $200 billion in previously proposed tariffs on Chinese goods. The report also said, however, that Trump has not made up his mind on the matter. The White House declined to comment on the report.
Canada has until Friday to join a trade deal made between the U.S. and Mexico, according to President Trump. However, Trump said he was confident an agreement between the two nations was within reach.
Trade-sensitive stocks such as Boeing and Caterpillar hit their session lows following the report's release. Shares of Boeing dropped 0.9%, and Caterpillar fell 2%.
Shares of Electronic Arts plunged more than 9% after the video-game company delayed the release of "Battlefield V," a popular game, and adjusted its fiscal 2019 guidance for net bookings.
Canada has until Friday to join a trade deal made between the U.S. and Mexico, according to President Trump. However, Trump said he was confident an agreement between the two nations was within reach.
Jobless claims rose slightly to 213,000 last week, but remained near multi-decade lows as the underlying trend still points to a tightening labour market. Personal income rose 0.3% in July.
Prices for the benchmark for the 10-year U.S. Treasury gained, lowering yields to 2.86% from Wednesday’s 2.89%. Treasury prices and yields move in opposite directions.
Oil prices picked up 61 cents to $70.12 U.S. a barrel.
Gold prices dropped five dollars to $1,206.50
