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TC Energy Corp(TRP-T)

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Stocks Flat at Open

Baystreet - Fri Mar 15, 9:23AM CDT
Canada's main stock index were virtually unchanged on Friday, despite gains in healthcare sector, while the domestic housing data indicated that Bank of Canada may not cut rates soon as the Canadian economy still remained strong.

The TSX Composite poked 0.71 points to begin Friday at 21,830.56

The Canadian dollar was better by 0.09 cents to 73.97 cents U.S.

TC Energy agreed to sell its Prince Rupert natural gas pipeline project to two partners in Ksi Lisims LNG, a proposed Canadian export terminal, the North American pipeline operator said on Thursday. TC shares docked three cents to $54.64.

On matters economic, foreign investment in Canadian securities amounted to $8.9 billion in January, led by acquisitions of government debt securities. Meanwhile, Canadian investors reduced their holdings of foreign securities by $7.6 billion, led by sales of equity securities.

Moreover, Canada Mortgage and Housing Corporation said housing starts totaled 253,000 in February, compared to 223,200 in the same month last year.

Wholesale sales grew 0.1% to $82.4 billion in January.


The TSX Venture Exchange forged ahead but 0.7 points to 550.17.

Eight of the 12 subgroups stumbled in the first hour, weighed most by information technology and consumer staples, each down 0.4%, while communications slid 0.3%.

The four gainers were led by health-care and materials, each up 0.3%, while energy eked up 0.1%.


The S&P 500 fell on Friday as investors tried to wrap up a volatile week after a string of fresh inflation data.

The Dow Jones Industrial dumped 127.53 points to commence the week’s last session at 38,778.13.

The much-broader index skidded 34.38 points to 5,116.10.

The NASDAQ slipped 156.08 points, or 1%, to 15,973.66.

Despite the moves downward, the Dow and S&P 500 are still tracking to end the week up around 0.5%, while the NASDAQ is on pace to add 0.3%. All three are also higher on the year.

High-flying tech darling Nvidia dipped more than 1%. The decline put the stock down 0.7% for the week. That would mark its first weekly decline in 10 weeks.

Software provider Adobe dropped 13% on weak sales guidance. Beauty stock Ulta slid more than 6% after its full-year earnings forecast largely underwhelmed analysts.

Trading volumes will be elevated and prices may be volatile Friday as futures and options on stock indexes and individual stocks all expire simultaneously in a process known as “triple witching” that happens once a quarter.

Prices for the 10-year Treasury lost ground, boosting yields to 4.31% from Thursday’s 4.29%. Treasury prices and yields move in opposite directions.

Oil prices skidded 72 cents to $80.54 U.S. a barrel.

Gold prices sagged $3.50 to $2,164.00.

Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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