Canada’s main stock index edged lower on Friday, as investors awaited key economic data from both Canada and the United States.
The TSX Composite Index dropped 68.41 points to start Friday trading at 25,445.67.
The Canadian dollar shed 0.02 cents to 70.53 cents U.S.
For the week, the health-care sector was on course to be the standout performer, with an impressive 4.3% gain, whereas the technology sector faced challenges, losing 2.9% and set to emerge as the week’s weakest performer.
On the economic platform, retail sales increased 2.5% to $69.6 billion in December. Sales were up in all nine subsectors and were led by increases at food and beverage retailers and motor vehicle and parts dealers.
ON BAYSTREET
The TSX Venture Exchange inched higher 0.07 points to 644.07.
Eight of the 12 subgroups were lower soon after the opening, with gold dropping 1.5%, materials sinking 1.3%, and energy lower by 1.1%.
The four gainers were led by utilities, up 0.5%, real-estate, better by 0.4%, and telecoms, ahead 0.2%.
ON WALLSTREET
Stocks were mixed Friday investors neared the end of a rocky week on Wall Street.
The Dow Jones Industrials plummeted 365.89 points Friday to 43,810.76
The S&P 500 index shed 24.19 points to 6,093.33
The NASDAQ fell 61.57 points to 19,900.79.
For the week, the S&P 500 is marginally lower, while the Dow is down 1.4%, and NASDAQ has lost 0.2%.
UnitedHealth dropped more than 9% to weigh on the Dow, after The Wall Street Journal reported that the insurer is under investigation by the Justice Department. The decline put the stock on pace for its worst day since March 2020.
Prices for the 10-year Treasury gained lowering yields to 4.46% from Thursday’s 4.51%. Treasury prices and yields move in opposite directions.
Oil prices backed off $1.26 to $71.22 U.S. a barrel.
Prices for gold dulled $10.50 an ounce to $2,945.60 U.S.
