TSX Stumbles into Weekend - InvestingChannel

TSX Stumbles into Weekend

Equities in Canada’s largest market stuttered their way into the weekend, with grocery and gold stocks taking the deepest would

The TSX faltered 50.64 points to end Friday at 19,892.06, for a loss on the week of 132 points, or 0.66%.

The Canadian dollar peeped up 0.01 cents to 74.93 cents U.S.

Consumer staples weighed things down by the final bell, with Saputo reversing $3.73, or 10.7%, to $31.09, while Premium Brands surrendered $1.77, or 1.7%, to $100.25.

In gold stocks, Equinox Gold handed over 18 cents, or 2.8%, to $6.34, while NovaGold dipped 16 cents, or 2.3%, to $6.95.

In cannabis concerns, Tilray lost 13 cents, or 5.8%, to $2.11, while Canopy Growth skidded two cents, or 2.2%, to 90 cents.

Tech stocks tried to right the ship, with Quarterhill poking ahead four cents, or 3.1%, to $1.32, while Shopify hurtled $2.27, or 2.9%, higher to $81.44.

In consumer discretionary issues, Linamar zoomed 96 cents, or 1.5%, to $67.36, while Restaurant Brands International heightened 90 cents to $100.33.

In energy stocks, Imperial Oil gained 64 cents, or 1%, to $66.90, while Vermilion Energy improved 44 cents, or 2.7%, to $16.62.

StatsCan reported Employment was little changed in May, having fallen by 77,000 for youth aged 15 to 24, and increased by 63,000 among people aged 25 to 54.


The TSX Venture Exchange demurred 1.36 points to 610.32, but managed to hold out for a gain on the week of 1.24 points, or 0.2%.

All but three of the 12 TSX subgroups were lower on the day, with consumer staples shedding 1.6%, gold down 1.4%, and health-care off 1.2%.

The three gainers proved to be information technology, progressing 0.9%, consumer discretionary stocks peeping up 0.2%, and energy, up 0.1%.


The S&P 500 rose slightly Friday, reaching the 4,300 benchmark for the first time since August 2022 as investors looked ahead to new inflation data set for release next week, along with the Federal Reserve’s latest policy announcement.

The Dow Jones Industrials accumulated 43.63 points to 33,877.24.

The S&P 500 picked up 5.02 points to 4,298.95.

The NASDAQ index grabbed 20.62 points to 13,259.14.

For the week, the S&P 500 was up 0.5%, on track for its fourth straight weekly gain. That would be the index’s longest weekly winning streak since August. The NASDAQ was up about 0.3%, on pace for its seventh straight advance one-week advance, which would be its longest streak of gains since November.

Tesla shares popped almost 5% on news that General Motors will use its electric vehicle charging network. GM’s stock also climbed 1.4%.

The market is also looking toward next week’s CPI numbers and the Federal Open Market Committee meeting. Markets are currently anticipating almost 75% probability the central bank to pause its rate-hiking campaign.

Prices for the 10-year Treasury lost ground, raising yields to 3.74% from Thursday’s 3.71%. Treasury prices and yields move in opposite directions.

Oil prices slid one dollar to $70.29 U.S. a barrel.

Gold prices shed $3.70 to $1,974.80 U.S. an ounce.

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