More Negative News for TSX
The TSX reversed 86.84 points to conclude Thursday to 19,812.23.
The Canadian dollar faded 0.02 cents to 73.85 cents U.S.
Tech shares took the brunt of the blows, with Bitfarms paled 12 cents, or 6.3%, to $1.80, while HUT 8 Mining let go of 19 cents, or 5.5%, to $3.29.
In communications, Quebecor retreated $1.37, or 4.1%, to $31.84, while Cogeco Communications slid $2.04, or 3.2%, to $62.34.
Consumer discretionary stocks also stumbled, with Magna International wallowing $1.88, or 2.5%, to $74.10, while BRP Inc. dipped $1.63, or 1.5%, to $!05.77.
Only energy issues salvaged some dignity, with Birchcliff Energy forging ahead 21 cents, or 2.6%, to $8.30, while Suncor powered up $1.10, or 2.6%, to $44.20.
Economically speaking, Statistics Canada reports Canadian investors acquired $14.4 billion of foreign securities in June, the largest investment in seven months. Meanwhile, foreign investors increased their holdings of Canadian securities by $12.6 billion, following two months of strong investment.
ON BAYSTREET
The TSX Venture Exchange tumbled 5.64 points to 585.72.
All but one of the 12 TSX subgroups lost ground on the day, with information technology sinking 2.3%, while communications moved downward 1.4%, and consumer discretionary lost 1.1%.
Only energy held out, positive 1.3%.
ON WALLSTREET
Stocks traded lower Thursday as investors digested the latest round of earnings and economic data, and as rates jumped to fresh highs.
The Dow Jones Industrials plummeted 291.84 points to conclude Thursday at 34,473.90
The much-broader index retreated 34.19 points to 4,370.14.
The NASDAQ index ditched 55.95 points to 13,418.67. The major averages sustained their third straight day of losses.
Walmart declined more than 2% even after reporting an earnings and revenue beat in the fiscal second quarter. The company also raised its full-year guidance and underscored strength in grocery and online sales.
On a positive note, computer networking company Cisco Systems gained nearly 4% on a better-than-expected quarterly earnings report.
Stocks have been suffering through a rocky August, with the major averages headed toward another losing week and in negative territory for the month. The broad market index is down more than 4% in August.
Jobless claims for the week ended Aug. 12 fell from the previous period and came in slightly under the Dow Jones estimate. The Philadelphia Federal Reserve also reported an uptick in its manufacturing index in August.
Prices for the 10-year Treasury inched back, raising yields to 4.28% from Wednesday’s 4.27%. Treasury prices and yields move in opposite directions.
Oil prices gained 68 cents to $80.06 U.S. a barrel.
Gold prices thundered lower $9.20 to $1,919.10 U.S. an ounce.
Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.
