Equities in Canada’s largest market remained higher by triple digits Thursday morning, as consumer and energy stocks led.
The S & P/TSX Composite rose to its highest this morning, but the breakeven still improved by 155.32 points, to pause for lunch at 20,751.21.
The Canadian dollar fell 0.29 cents to 78.72 US cents
Consumer stocks mounted the top step of the podium late Thursday morning, where Dollarama was up $ 2.27, or 3.7%, to $ 63.70, while Linamar was up $ 1.25, or 1.8%. , at $ 69.17.
Energy shares also rose higher with Whitecap Resources jumping 28 cents, or 3.3%, to $ 8.89, while Baytex Energy rose 14 cents, or 3.2%, to $ 4.57.
Gold stocks did not fare well, though, as New Gold dropped nine cents, or 4.4%, to $ 1.97, while Wesdome dropped 29 cents, or 2.6%, to $ 11.09.
In health care, Tilray was down 24 cents, or 3.4%, to $ 6.78, while Aurora Cannabis was down 16 cents, or 3.1%, to $ 4.96.
On the economic calendar, Statistics Canada said the number of employees receiving a salary or benefit from their employer increased by 37,200 (+0.2%) in November, the sixth consecutive monthly increase, bringing it within 0.4% of its level before the pandemic.
Moreover, The Bank of Canada will soon start raising interest rates from the lowest to fight inflation, Governor Tiff Macklem announced on Wednesday, saying the economy no longer needs help to deal with the effects of the pandemic. of COVID-19.
SA BAYSTREET
The TSX Venture Exchange sank 4.07 points to 848.38.
All but three of the TSX’s 12 subgroups remained positive, with consumer discretionary stocks rising 1.8%, energy and consumer staples reaching 1.4% each.
The three catches were proven gold, down 1.1%, healthcare, sick 0.9%, and materials down 0.5%.
ON THE WALLSTREET
U.S. stocks rose on Thursday as investors thought about a better-than-expected fourth-quarter GDP report and an update from the Federal Reserve on its rate hike plan.
Dow Jones Industrials fell 470.84 points, or 1.4%, to 34,638.93
The S&P 500 recovered 57.44 points, or 1.3%, to 4,407.37.
The NASDAQ rose 141 points, or 1%, to 13,683.12.
Netflix jumped more than 8% on news that Bill Ackman of Pershing had bought 3.1 million shares. ServiceNow rose 11.7% after better -than -expected quarterly results.
On the downside, Intel lost 6% and Tesla fell 5% despite strong earnings reports. Robinhood dropped 2% before reporting quarterly results after the closing bell.
Investors have continued to digest the latest monetary policy update as the Federal Open Market Committee has strongly indicated the first interest rate hike since late 2018 could come as soon as March.
Fed Chairman Jerome Powell angered the markets on Wednesday saying the central bank had “quite a bit of room” to raise rates before it negatively impacted employment.
Fourth-quarter gross domestic product jumped 6.9% from a year earlier, the Commerce Department reported on Thursday. Economists analyzed by Dow Jones expect the economy to grow at a 5.5% annualized pace in the last three months of 2021.
Prices for 10-year Treasurys gained ground, lowering yields to 1.81% from 1.87% on Wednesday. Treasury prices and yields are moving in opposite directions.
The price of oil dropped five cents to $ 87.30 US per barrel.
Gold prices lost $ 37.20 to $ 1,792.50 US per ounce.