Indexes in Canada’s biggest centre failed to hold onto the gains they’d amassed most of Friday, resulting in daily and weekly losses.
The TSX Composite shimmied between winning and losing, but descended into the red 22.12 points to close Friday at 19,947.07. On the week, the index retreated 539 points, or 2.63%.
The Canadian dollar lost 0.26 cents at 73.27 cents U.S.
In consumer discretionary stocks, Dollarama blundered $2.66, or 3.1%, to $82.83, while Sleep Country dozed 25 cents, or 1.1%, to $22.77.
Cannabis concerns also struggled to go higher, with Canopy Growth dropping 23 cents, or 5.5%, to $3.95, while Tilray dumped seven cents, or 1.4%, to $4.79.
Gold prices dulled, as OceanaGold slipped nine cents, or 3.4%, to $2.53, while Eldorado Gold faded nine cents to $11.28.
Tech issues tried to balance things out, with Dye & Durham galloping 52 cents, or 4.1%, to $13.32, while SoftChoice grabbed 59 cents, or 3.9%, to $15.80.
Financials were in the plus category, primarily, Laurentian Bank, ahead $1.92, or 6.1%, to $33.38.
In consumer staples issues, Empire Company advanced 61 cents, or 1.7%, to $37.00, while Jamieson Wellness captured 57 cents, or 1.7%, to $34.75.
ON BAYSTREET
The TSX Venture Exchange handed back 4.12 points to 577.62, for a loss on the week of 21 points, or 3.6%.
Seven of the 12 subgroups were lower, as consumer discretionary stocks sank 0.8%, while health-care dropped 0.7%, and gold dulled 0.3%.
Of the five gainers, information technology sprinted 0.7%, while financials and consumer staples each advanced 0.4%.
ON WALLSTREET
Stocks gyrated on Friday, but headed for a down week as worries over continued rate hikes persisted.
The Dow Jones Industrials hurtled lower 305.02 points to 33,475.46, sustaining its worst week since September.
The S&P 500 tailed off 29.13 points to 3,934.38
The NASDAQ Composite Index retreated 77.39 points to 11,004.62
For the week, the Dow was off by 2.3%, while the S&P 500 fell 2.8%. The NASDAQ was down 3.4%.
Shares of Lululemon fell more than 13% after the company gave a weaker-than-expected fourth-quarter outlook. Bath & Body Works’ stock gained marginally as Dan Loeb revealed a boost in his stake. DocuSign jumped on strong results.
Friday’s moves came as November’s producer price index showed higher-than-expected wholesale prices, which rose 0.3% last month and 7.4% over the previous year. That topped the 0.2% gain expected by economists polled by Dow Jones. Core PPI, which excludes food and energy, rose 0.4%, beating an estimate of 0.2%. Optimistic consumer sentiment data helped to alleviate some fears.
Prices for the 10-year Treasury fell, raising yields to 3.59% from Thursday’s 3.49%. Treasury prices and yields move in opposite directions.
Oil prices were unchanged from Thursday at $71.46 U.S. a barrel.
Gold prices gained $5.70 to $1,817.30 U.S. an ounce.