TSX Has Winning Week Despite Friday Stumble

Equities in Canada’s largest centre closed out the week on a negative footing, though stocks did finish the week in the green.

The TSX Composite Index fell 77.01 points to close Friday at 23,956.82. On the week, however, the index advanced 186 points, or 0.8%.

The Canadian dollar deleted 0.08 cents to 74.12 cents U.S.

Blackberry beat analysts' second-quarter revenue expectations and recorded breakeven adjusted operating income and earnings per share. BlackBerry shares lost three cents to $3.42.

Gold took a licking Friday, weighing most on the index, with Eldorado Gold heaviest, down $1.11, or 4.4%, to $23.80, while Equinox Gold let go of 35 cents, or 4%, to $8.33.

Materials didn’t fare much better, with Fortuna Silver Mines docking 53 cents, or 5.1%, to $6.52, while K92 Mining subtracted 37 cents, or 4.5%, to $7.87.

Techs dived, with Enghouse Systems sank 66 cents, or 1.9%, to $33.46, while Constellation Software ditched $86.73, or 2%, to $4,347.79.

Energy tried to leaven things out, with Advantage Energy up 43 cents, or 4.9%, to $9.27, while Tourmaline Oil hiked $2.42, or 4.1%, to $61.46.

Communications were in the green, with Cogeco soaring $1.26, or 1.8%, to $71.35, while BCE corralled 64 cents, or 1.4%, to $47.54.

In health-care, Bausch Health Companies captured 20 cents, or 1.8%, to $11.13, while Tilray gained two cents to $2.35.

In the economic docket, July’s GDP rose 0.2% as increases in both services-producing industries and goods-producing industries drove the growth.

ON BAYSTREET

The TSX Venture Exchange slid 6.22 points, or 1.1%, to 588.11. Over the last five sessions, the index added three points, or 0.5%.

Seven of the 12 TSX subgroups were higher, with energy up 2%, communications ahead 1%, and health-care haler by 0.6%.

The five laggards were weighed gold, dulling in price 2.5%. materials, sliding 2%, information technology, dropping 1.2%,

ON WALLSTREET

The Dow Jones Industrial Average climbed to a fresh record on Friday as traders digested new data that pointed to further progress in lowering inflation. Wall Street also posted three straight positive weeks.

The blue-chip index came down from its highs of the day, but still registered positive 137.89 points to 42,313, and still reached an all-time record.

The S&P 500 index faded 7.2 points to 5,738.17

The NASDAQ Composite retreated 70.7 points to 18,119.59. The technology-heavy index’s gains were kept in check by a more than 2% decline in Nvidia

The major averages extended their gains to a third week, with the S&P 500 and the Dow rising about 0.6% for the period. The NASDAQ advanced nearly 1% during the week.

Traders also received encouraging inflation data that could give the central bank more reason to confidently cut interest rates further.
August’s personal consumption expenditures price index — the Federal Reserve’s favored measure of inflation — increased 0.1%, matching expectations from economists polled by Dow Jones. PCE increased 2.2% at an annualized pace, below the 2.3% forecast.

Prices for the 10-year Treasury gained ground, lowering yields to 3.75% from Thursday’s 3.80%. Treasury prices and yields move in opposite directions.

Oil prices regained 92 cents at $68.59 U.S. a barrel.

Gold prices flopped $20.60 to $2,674.30 U.S. an ounce