(CORRECTION, TSX VENTURE CLOSE NOW UP TO DATE)
Markets clung tenaciously to their gains Thursday before sinking into the red, as the closing bell sounded.
The TSX Composite Index stumbled 8.97 points to close Thursday at 25,060.24.
The Canadian dollar nosed ahead 0.02 cents to 69.84 cents U.S.
Political developments in Canada also took centre stage on Thursday after the Globe and Mail reported that new Prime Minister Mark Carney is expected to call a snap election for Monday, April 28.
The U.S. central bank kept its interest rates on hold and projected two more quarter-point cuts by the end of this year.
In corporate news, potential buyers of Japan's Seven & i and Canada's Alimentation Couche-Tard's U.S. stores have until the end of March to express interest and address antitrust concerns.
Couche-Tard shares eased back nine cents to $70.65.
Wesdome fell 33 cents, or 2.1%, to $15.80 after the gold miner reported quarterly results.
In health-care issues, Bausch Health Companies squeezed ahead 14 cents, or 1.4%, to end the day at $10.17, while Tilray gained a penny, or 1.1%, to 92 cents.
In energy, Kelt Exploration jumped 19 cents, or 2.9%, to $6.67, while Terravest Exploration captured $4.14, or 2.9%, to $144.99.
In the consumer staples sector, Empire Company tacked on $1.36, or 3%, to $46.26, while Metro Inc. leaped $1.10, or 1.2%, to $94.96.
Telecom firms let the side down, as Cogeco sifted off 53 cents, or 1.6%, to $32.99, while TELUS lost 39 cents, or 1.8%, to $20.99.
Among industrials, Aecon Group fell 37 cents, or 2%, to $18.02, while shares in Boyd Group crumbled $4.86, or 2.2%, to $211.92.
In the consumer discretionary area, BRP slipped $2.30, pr 4.1%, to $53.20, while Aritzia descended $1.80, or 3.4%, to $51.73.
On the economic calendar, Statistics Canada’s Raw Materials Price Index increased 0.3% month over month and rose 9.3% year over year., while its industrial products price index grew 0.4% month over month and increased 4.9% year over year.
In economic data, producer prices in Canada rose by 0.4% in February from January on higher prices for primary non-ferrous metal products, as well as energy and petroleum products.
ON BAYSTREET
The TSX Venture Exchange inched upward 2.35 points to 640.78.
Seven of the 12 TSX subgroups were positive by noon hour, led by health-care, up 0.6%, while energy and gold each took on 0.3%.
The five laggards were weighed most by telecoms, retreating 1.2%, while real-estate dodged 0.3%, and industrials, off 0.2%.
ON WALLSTREET
The S&P 500 ticked lower on Thursday as uncertainty around the U.S. economy continued to weigh on equities, thwarting the market’s attempts at recovery from a monthlong rout.
The Dow Jones Industrials withered 11.43 points to 41,953.20,
The broader index slid 12.41 points to 5.662.88.
The NASDAQ was dwindled 59.16 points to 17,692.63, as Apple shares sank about 0.5%.
Shares of Alphabet saw declines, weighing on the market. Meta Platforms and Nvidia, however, were outliers among the “Magnificent Seven” stocks, each rising almost 1%.
New economic data released Thursday showed that economic worries might actually be overblown. Data from the National Association of Realtors showed that sales of previously owned homes in February rose 4.2% from January, while industry analysts had expected a 3% drop.
Additionally, jobless claims were only up slightly last week while layoffs remain low.
Prices for the 10-year Treasury gained ground Thursday, sending yields down to 4.24% from Wednesday’s 4.25%. Treasury prices and yields move in opposite directions.
Oil prices were higher $1.14 to $68.30 U.S. a barrel.
Prices for gold acquired $11.80 an ounce to $3,053 U.S.
