Canada's main stock index fell on Thursday, with metal miners and technology stocks surrendering recent gains, as investor focus turned towards Friday's crucial domestic employment report for insights into the country's economic health.
The TSX plummeted 166.82 points to break for lunch Thursday at 30,335.17.
The Canadian dollar ducked 0.30 cents at 71.36 cents.
In corporate news, Hadrian Capital Partners is selling down an A$688 million ($454.1 million U.S.) stake in dual-listed Capstone Copper, according to a term sheet seen by Reuters. Capstone stock eased 59 cents, or 4.3%, to $13.19.
Health-care stocks climbed, bolstered by cannabis company Curaleaf Holdings, which surged 15 cents, or 3.3%, to $4.68, after receiving a "buy" rating from Canaccord Genuity analysts who initiated coverage of the stock.
ON BAYSTREET
The TSX Venture Exchange faded 13.03 points, or 1.3%, to 1,000.28.
All but three of the 12 TSX subgroups were on the downside looking up in Thursday’s first hour, as gold dulled in price 2.8%, materials were off 1.9%, and consumer discretionary stocks lost 0.7%.
The three gainers proved to be telecoms, up 1.1%, health-care, up 1%, while energy gathered 0.4%.
ON WALLSTREET
The S&P 500 and NASDAQ Composite pulled back from fresh all-time intraday highs on Thursday.
The Dow Jones Industrial Index gave up 172.69 points to observe noon hour EDT Thursday at 46,429.09
Costco was one of the bright spots of the day, as shares gained 2% after the big-box retailer delivered solid September sales data. Delta Air Lines was another winner, jumping 5% on better-than-expected earnings.
The much broader index lost 18.59 points to 6,735.20
The tech-heavy NASDAQ faded 46.14 points to 22,997.24.
Investors will monitor morning remarks from Federal Reserve Chair Jerome Powell at a community bank conference, as well as speeches from other Fed officials such as Michelle Bowman and Mary Daly throughout the day.
These appearances come a day after the Fed released minutes for its most recent policy meeting showing divisions around what to do next with interest rates.
Prices for the 10-year Treasury dipped, raising yields to 4.14% from Wednesday’s 4.13%. Treasury prices and yields move in opposite directions.
Oil prices removed 52 cents to $62.03 U.S. a barrel.
Gold prices dropped $35.80 to $4,034.70 U.S. an ounce.
