Stocks Climb Thursday - InvestingChannel

Stocks Climb Thursday

Equities in Canada’s largest centre withstood negative vibes and came out ahead Thursday, mostly on the strength of utility and material stocks.

The TSX Composite gained 52.39 points to close Thursday at 21,706.87.

The Canadian dollar eked up 0.03 cents at 72.64 cents U.S.

Utilities led the pack, with Transalta taking on 28 cents, or 3.3%, to $8.85, while Brookfield Infrastructure Partners units up $1.05, or 3%, to $36.26.

Among materials, First Quantum Minerals hiked $1.38, or 9.4%, to $16.16, while Silvercrest Metals acquired 59 cents, or 6%, to $10.40.

In the health-care field, Chartwell Retirement Residence units gathered 30 cents, or 2.4%, to $12.91, while Tilray inched up two cents to $2.39.

On the downside, energy faded, primarily, IPCO, down 53 cents, or 3%, to $17.19, while Mattr dipped 35 cents, or 2.1%, to $16.58.

In the tech sector, Sylogist shied away 25 cents, or 2.6%, to $9.31, while Celestica doffed $1.12, or 1.8%, to $60.34.

In the industrial field, TFI International crumbled $3.67, or 1.9%, to $195.10, as CAE shares shed 48 cents, or 1.8%, to $25.56.

ON BAYSTREET

The TSX Venture Exchange dropped 0.95 points to 570.89.

Eight of the 12 TSX subgroups were negative, with energy tumbling 0.7%, information technology, off 0.5%, and industrials, down 0.4%.

The four gainers were led by utilities, up 1.1%, materials, better by 1%, while health-care, improved 0.4%.

ON WALLSTREET

The S&P 500 slipped for a fifth straight day on Thursday, placing the benchmark on track for its longest losing streak this year.

The Dow Jones Industrials came off their highs of the day, but still finished positive 24.9 points to 37,778.21,

The much-broader index sifted off 11 points to 5,011.21.

The NASDAQ sank 81.87 points to 15,601.50.

With those declines, the S&P 500 and NASDAQ each flirted with their fifth straight down day. For the S&P 500, it would be the first losing streak of that length since October, just before the current bull market began. It would be the longest for the Nasdaq since January.

The tech-heavy NASDAQ has tumbled more than 3% this week as technology shares struggled. That puts the index on pace for its fourth straight down week, which would mark the longest negative streak since December 2022.

Credit bureau Equifax declined $20.17, or 8.5%, to $217.51 in Thursday’s session on disappointing second-quarter guidance. Homebuilder D.R. Horton gave up gains and slid five cents to $145.88 after quarter financials topped expectations.

The moves come during what has been a difficult second quarter on Wall Street. That’s been driven by growing concerns around the path of inflation and monetary policy from the Federal Reserve.

Prices for the 10-year Treasury fell, raising yields to 4.63% from Wednesday’s 4.58%. Treasury prices and yields move in opposite directions.

Oil prices gave up seven cents to $82.76 U.S. a barrel.

Gold prices gained $6.90, to $2,395.30 U.S. an ounce.

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