Canada's main stock index traded near a record high on Thursday as investors weighed corporate earnings and softer-than-expected U.S. PPI data.
The TSX lost 68.19 points to move into Thursday afternoon at 36,593.95.
The Canadian dollar sank 0.008 cents at 71.72 cents U.S.
Stantec late on Wednesday beat second-quarter adjusted profit estimates driven by acquisition growth, while CCL Industries topped second-quarter sales estimates.
CCL shares grabbed $3.36, or 3.7%, to $94.94.
Pan American Silver missed quarterly adjusted profit estimates on lower gold output. PanAm dumped $7.27, or 10%, to $65.83.
Extendicare gained 50 cents, or 1.6%, to $32.58, Bausch Health picked up 13 cents, or 1.5%, to $8.75, and Sienna Senior Living pointing upward six cents to $22.04.
On the earnings front, investment firm Brookfield posted a rise in second-quarter distributable earnings per share, though its shares were little changed. Brookfield lost $1.01, or 1.6%, to $61.37.
Iran and the United States reportedly remained at loggerheads amid efforts to negotiate a permanent end to the Middle East conflict.
ON BAYSTREET
The TSX Venture Exchange withered 7.76 points to 968.11.
Eight of the 12 TSX subgroups were positive, with information technology, up 1.9%, while energy and utilities each ahead 0.3%.
The four laggards were weighed most by gold, down 2.6%, materials, falling 2.2%, and consumer discretionary stocks off 0.3%.
ON WALLSTREET
The S&P 500 rose on Thursday as oil prices declined and traders digested more inflation data as well as a slew of fresh earnings reports.
The Dow Jones Industrials dipped 79.3 points to pause for lunch Thursday at 53,690.97.
The much-broader index advanced 34.94 points to 7,783.46
The NASDAQ Composite leaped 160.57 points, or 1%, to 26,749.05, boosted by gains in Meta Platforms, Microsoft and Netflix.
Cisco Systems was a key laggard of the day, falling 9% after the company’s latest quarterly results failed to impress investors. Cerebras and
Coherent also moved lower after their earnings updates, with the former plummeting 13% and the latter dropping 3%.
Prices for the 10-year Treasury popped, making yields plunge to 4.64% from Wednesday’s 4.69%. Treasury prices and yields move in opposite directions.
Oil prices weakened 71 cents to $82.56 U.S. a barrel.
Gold prices dwindled $46.00 to $4,421.50 U.S. an ounce.
