Canada's commodity-heavy stock index took a breather from recent highs on Friday, weighed by tech weakness while investors also assessed corporate earnings and stalled talks to end the Middle East conflict.
The TSX doffed 87.2 points to pause for lunch Friday at 36,672.09. On the week so far, the index has gained 291 points, or 0.8%.
The Canadian dollar pushed upward 0.03 cents at 72.05 cents U.S.
On the earnings front, Bird Construction beat second-quarter profit estimates, after which at least three brokerages raised price targets on the stock.
Bird shares jumped $2.47, or 3.4%, to $74.35.
In company news, Air Canada's revenue for September and October is likely to break records for the two months as more premium travelers avoid the heat and summer crowds in Europe and Japan.
Shares in the “Maple Leaf airline” dipped 94 cents, or 3.1%, to $29.47.
Seabridge Gold heightened $1.48, or 3.3%, to $46.35, Endeavour Silver advanced 39 cents, or 2.7%, to $14.76, and First Majestic Silver grabbed 53 cents, or 2%, to $26.71.
The United States threatened an indefinite naval blockade of Iran, reviving concerns about disruptions to crude supplies from the Middle East.
It’s a busy day on the economic slate.
June wholesale sales rose 2.8% in June, while manufacturing figures edged up 0.1% the same month, driven largely by increased sales of chemical products and transportation equipment. On a quarterly basis, total sales rose 9.3% in the second quarter of 2026.
Separately, a federal government source directly familiar with trade negotiations with the U.S. said on Thursday talks were progressing well and that Washington also wanted an agreement before a new U.S. tariff deadline on August 19.
ON BAYSTREET
The TSX Venture Exchange slipped 1.9 points to 968.33. On the week, though, the index is ahead 13.4 points, or 1.4%.
Seven of the 12 TSX subgroups were negative, weighed most by information technology, off 1.5%, while consumer discretionary and health-care stocks suffered 0.4% each.
The five gainers were led by gold, up 1.3%, materials, picking up 1%, and energy, up 0.9%.
ON WALLSTREET
The S&P 500 slid on Friday after a record-setting session, though the benchmark is still on pace for its third consecutive weekly advance.
The Dow Jones Industrials retreated 113.86 points approaching noon EDT Friday at 53,726.13.
The much-broader index dipped 15.12 points to 7,783.87.
The NASDAQ Composite weakened 124.3 points to 26,678.72.
The S&P 500 was headed for its third straight weekly advance, gaining 0.3% in the period. The NASDAQ, however, is on pace for a 0.1% decline, while the Dow is down 0.6% week to date.
The week has been a record-setting one for the S&P 500, with the index on Thursday crossing 7,800 for the first time after hitting an intraday all-time high of 7,816.70. The benchmark also closed at a record in the prior trading day.
Applied Materials was a sore spot in the session, as shares dropped more than 4% in the session.
Because the bulk of earnings season is over, with few key reports remaining such as Nvidia and Broadcom, experts noted there’s no longer a major catalyst, except for those quarterly results and if the Strait of Hormuz were to reopen.
Prices for the 10-year Treasury popped, boosting yields to 4.69% from Thursday’s 4.64%. Treasury prices and yields move in opposite directions.
Oil prices surged 54 cents to $81.79 U.S. a barrel.
Gold prices climbed $19.80 to $4,440.20 U.S. an ounce.
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