Stocks in Toronto flirted with higher figures before settling into the negative by Wednesday’s close, as weakness in energy and health-care stocks over strength in consumer stocks.
The TSX Composite fell 36.82 points to close the session at 19,957.96.
The Canadian dollar eased 0.26 cents to 75.05 cents U.S.
Energy stocks took the biggest body blows, as Vermilion Energy dumped $1.49 in price, or 5.4%, to $26.08, while Paramount Resources fell $1.53, or 4.7, to $30.77.
Health-care stocks also felt the pinch, as Cronos Group lost 18 cents, or 4.4%, to $3.89, while Sienna Senior Living ditched 36 cents, or 3%, to $11.48.
Materials lost ground, as First Quantum Minerals handed over $2.11, or 6.4%, to $30.75, while Dundee Precious Metals skidded 30 cents, or 4.5%, to $6.35.
Consumer staples tried to balance things out, with Metro grew two dollars, or 2.8%, to $74.25, while Empire Company added 86 cents, or 2.6%, to $34.53.
Consumer discretionary stocks were on the move, with Restaurant Brands surging $5.57, or 7%, to $84.95, and Dollarama moving higher $1.34, or 1.8%, to $77.52.
In the industrial sector, Canadian Pacific climbed $3.37, or 3.4%, to $10.36, while Thomson Reuters picking up $2.80, or 1.9%, to $149.83.
On the economic slate, Statistics Canada reported October’s consumer price index rose 6.9% on a year-over-year basis, matching the increase in September. On a seasonally adjusted monthly basis, the CPI increased 0.6% last month.
Meanwhile, Canada Mortgage and Housing Corporation reported the pace of Canadian housing starts slowed 11% to 267,055 units in October, reversing the surge in September that had lifted the seasonally-adjusted annual rate of construction to 298,811 units.
ON BAYSTREET
The TSX Venture Exchange remained negative 3.23 points to 587.78.
Seven of the 12 TSX subgroups lost ground, with health-care and energy each off 1.9%, and materials skidding 1.1%.
The five gainers were led by consumer staples, up 1.7%, industrials ahead 1.4%, and consumer discretionary stocks progressed 1.4%.
ON WALLSTREET
Stocks fell on Wednesday as investors weighed a gloomy holiday quarter update from Target that pressured retail stocks.
The Dow Jones Industrials sagged 39.09 points to finish the day at 33,553.83
The S&P 500 moved lower 32.94 points to 3,958.79
The NASDAQ bumbled 174.75 points, or 1.5%, to 11,183.66.
Those moves came after Target reported a decline in sales as families deal with high inflation heading into the biggest shopping season of the year for retailers. The warning weighed on stocks, sending Target down more than 13% for its worst day since May. Macy’s, Nordstrom, Kohl’s and Gap were also down sharply.
A strategist at Cerity Partners said he would recommend buying Cisco Systems ahead of its after-the-bell earnings report.
Cisco has shed 29.8% so far this year as technology has struggled with investors rotating out of growth stocks. The internet company was to have its first-quarter call at 4:30 p.m. EST.
Prices for the 10-year Treasury swooned, raising yields to 3.70% from Tuesday’s 3.98%. Treasury prices and yields move in opposite directions.
Oil prices docked $1.63 to $85.29 U.S. a barrel.
Gold prices added 80 cents to $1,777.60 U.S. an ounce.