Canada's main stock index fell on Thursday, dragged down by mining and technology shares, while investors evaluated key US economic and inflation data.
The TSX doffed 7.45 points to approach noon EDT Thursday at 36,257.64.
The Canadian dollar was flat at 71.50 cents U.S.
Among company news, Alamos ?Gold missed third-quarter profit estimates, while Agnico Eagle Mines surpassed profit expectations.
Alamos opened Thursday down $3.69, or 8.3%, to $40.53, while Agnico blundered $7.20, or 2.8%, to $248.88. Kinross Gold shed $1.97, or 6.1%, to $20.25 after its quarterly revenue fell 2%
Allied Properties units tumbled $1.55, or 29.1%, to $3.80 after it reported a 6% fall in quarterly rental revenue
Bausch Health Companies soared $2.38, or 24.6%, to $12.05, after it beat third-quarter estimates and raised annual forecast
Canada and the European Union agreed to deepen ties, but dropped a contentious proposal for associate EU membership ?from a joint declaration seen by Reuters ahead of a summit in Montreal by Prime Minister Mark Carney.
Economically speaking, the number of employees receiving pay and benefits from their employer—measured as "payroll employment" in the Survey of Employment, Payrolls and Hours—decreased by 49,600 (-0.3%) in August, after edging down by 15,700 (-0.1%) in July.
On a year-over-year basis, payroll employment was up by 57,200 (+0.3%) in August.
ON BAYSTREET
The TSX Venture Exchange regressed 11.97 points, or 1.4%, to 827.03.
The 12 subgroups were evenly divided, with gold crumbling 2.7%, materials off 2.5%, and information technology faltering 1.2%.
The half-dozen gainers were led by health-care, popping 5.9%, financials, better by 1.9%, and utilities, up 0.8%.
ON WALLSTREET
Stocks were under pressure Thursday, weighed by the latest batch of corporate earnings as two Dow members drop by more than 10%.
The Dow Jones Industrials skidded 102.71 points to 52,372.31.
The S&P 500 ditched 18.66 points to 7,725.32.
The tech-heavy NASDAQ thundered lower 308.85 points to 26,241.
Alphabet lost 12% after it missed expectations on adjusted earnings per share and revenue in the third quarter. The Google parent posted negative free cash flow of $9.07 billion. The company kept its full-year capital expenditures forecast at $195 billion to $205 billion.
Fellow Dow member Caterpillar slid 10%. While the industrial giant reported better-than-expected revenue and earnings for the third quarter, sales in its construction industries business came in slightly below estimates.
Microsoft was also lower, reversing course from its initial advance after growth in the Windows maker’s Azure cloud infrastructure business helped earnings and revenue to beat analyst estimates in its fiscal first quarter ending in September, according to LSEG. The stock was last
down more than 1%.
Neoclouds fell as Microsoft’s lower-than-expected capital spending commitment pointed to infrastructure partners taking longer to deliver data center capacity. CoreWeave dropped more than 2%, while Nebius pulled back more than 5%.
Prices for the 10-year Treasury gained ground, lowering yields to 4.97% from Wednesday’s 5.05%. Treasury prices and yields move in
opposite directions.
Oil prices dropped $2.53 to $100.25 U.S. a barrel.
Gold prices slumped $18.20 to $4,033.40 U.S. an ounce.
