TSX Fails To Hold Gains, Ends Flat

RTTNews | 839 days ago
TSX Fails To Hold Gains, Ends Flat

(RTTNews) - The Canadian market rallied after a slightly weak start on Friday, but shed gains gradually towards the end of the session and finally settled flat.

Worries that aggressive rate hikes by central banks could hurt growth and push global economy into a recession weighed on the market towards the later part of the day's session.

The benchmark S&P/TSX Composite Index, which rallied to 18,685.04, gaining nearly 250 points in the process, ended with just a marginal gain of 2.38 points or 0.01% at 18,444.22.

Real estate and materials shares closed with strong gains. Consumer staples and industrials shares drifted lower. Consumer discretionary stocks also ended mostly lower.

Dye & Durham (DND.TO) soared 9.25%. CCL Industries (CCL.B.TO), Canadian Apartment Properties (CAR.UN.TO), CCL Industries (CCL.A.TO), Wheaton Precious Metals (WPM.TO), Agnico Eagle Mines (AEM.TO), Colliers International (CIGI.TO) and Franco-Nevada Corporation (FNV.TO) gained 2 to 4%.

Cargojet (CJT.TO), TFI International (TFII.TO), BRP Inc (DOO.TO), Canadian Pacific Railway (CP.TO), Loblaw Companies (L.TO), Ritchie Bros. Auctioneers (RBA.TO) and George Weston (WN.TO) shed 1.4 to 4%.

read more
ECB Minutes Show Policymakers Saw Room For More Easing

ECB Minutes Show Policymakers Saw Room For More Easing

European Central Bank policymakers were looking forward to more interest rate cuts, but they saw the need for a cautious approach due to several uncertainties that could derail inflation from its path to the 2 percent target, the minutes of the December 11-12 policy session showed on Thursday.
RTTNews | 5h 17min ago
U.S. Housing Market Index Unexpectedly Inches Up To Nine-Month High In January

U.S. Housing Market Index Unexpectedly Inches Up To Nine-Month High In January

Reflecting hopes for an improved economic growth and regulatory environment, the National Association of Home Builders released a report on Thursday unexpectedly showing a modest improvement by U.S. homebuilder confidence in the month of January. The report said the NAHB/Wells Fargo Housing Market Index crept up to 47 in January from 46 in December.
RTTNews | 7h 20min ago
Philly Fed Index Skyrockets To Highest Level Since April 2021

Philly Fed Index Skyrockets To Highest Level Since April 2021

The Federal Reserve Bank of Philadelphia released a report on Thursday showing a substantial turnaround by regional manufacturing activity in the month of January. The Philly Fed said its diffusion index for current general activity skyrocketed to a positive 44.3 in January from a negative 10.9 in December, with a positive reading indicating growth.
RTTNews | 7h 35min ago
U.S. Import Prices Inch Up 0.1% For Third Straight Month In December

U.S. Import Prices Inch Up 0.1% For Third Straight Month In December

Following yesterday's more closely watched report on consumer price inflation, the Labor Department released a report on Thursday showing import prices in the U.S. crept up in line with estimates in the month of December. The Labor Department said import prices inched up by 0.1 percent in December, matching the upticks seen in November and October as well as expectations.
RTTNews | 7h 39min ago
U.S. Retail Sales Rise 0.4% In December, Less Than Expected

U.S. Retail Sales Rise 0.4% In December, Less Than Expected

The Commerce Department released a report on Thursday showing retail sales in the U.S. increased by less than expected in the month of December. The report said retail sales rose by 0.4 percent in December after advancing by an upwardly revised 0.8 percent in November. Economists had expected retail sales to climb by 0.6 percent.
RTTNews | 7h 45min ago
U.S. Weekly Jobless Claims Rebound From Nearly Eleven-Month Low

U.S. Weekly Jobless Claims Rebound From Nearly Eleven-Month Low

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rebounded by more than expected in the week ended January 11th. The Labor Department said initial jobless claims climbed to 217,000, an increase of 14,000 from the previous week's revised level of 203,000. Economists had expected jobless claims to rise to 210,000.
RTTNews | 7h 50min ago
U.S. Import Prices Inch Up In Line With Estimates In December

U.S. Import Prices Inch Up In Line With Estimates In December

Following yesterday's more closely watched report on consumer price inflation, the Labor Department released a report on Thursday showing import prices in the U.S. crept up in line with estimates in the month of December.
RTTNews | 9h 3min ago