S&P/TSX composite down in late-morning trading, U.S. stock markets mixed
BNN Bloomberg
Canada’s main stock index fell, weighed down by losses in the base metal and technology sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was down 40.64 points at 32,347.96.
In New York, the Dow Jones industrial average was up 238.53 points at 49,479.52. The S&P 500 index was down 26.07 points at 6,891.74, while the Nasdaq composite was down 291.88 points at 22,963.31.
The Canadian dollar traded for 73.11 cents US compared with 73.25 cents US on Tuesday.
The March crude oil contract was down six cents US at US$63.15 per barrel.
The April gold contract was up US$9.90 at US$4,944.90 an ounce.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.
As Qatar reels from an Iranian attack that has hobbled its giant natural gas company, its boss, who doubles as the country’s energy minister, says he had warned officials and executives of just such a danger should Iran’s own sites be hit.
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U.S. stocks are sinking Friday as hopes wither on Wall Street for a possible cut to interest rates by the Federal Reserve this year because of the war with Iran.
Pinterest CEO Bill Ready called on world leaders to ban social media for youth under 16 in a LinkedIn post on Friday.
Wall Street is stumbling toward the finish line of a fourth straight losing week on Friday, but an ease in oil prices is taking some of the pressure off stock markets worldwide.
FedEx shares surged about 10 per cent before the bell on Friday, after the package-delivery giant raised its full-year profit forecast and signaled steady shipping demand despite geopolitical tensions and surging fuel costs.
Wall Street is stumbling toward the finish line of a fourth straight losing week, but an ease in oil prices is taking some of the pressure off stock markets worldwide.
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Oil prices steadied on Friday on the intensifying Iran war to around US$110 a barrel, while global shares were mixed following Wall Street losses.