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S&P/TSX composite little changed in late-morning trading
Energy gains and softer U.S. producer prices helped offset losses in base metals and technology stocks, keeping the S&P/TSX Composite nearly flat.
- On Friday, the TSX Composite Index finished lower as technology stocks weighed on markets, continuing a volatile week driven by uncertainty surrounding Nvidia CEO Jensen Huang's resignation.
- Huang resigned this week amid scrutiny regarding his relationship with a businesswoman suspected of spying for Beijing, heightening concerns surrounding the broader artificial intelligence trade.
- While technology stocks slumped, more than 60 per cent of stocks within the S&P 500 rose on Friday; Microsoft shares dipped 1.7 per cent, the only loser in the Magnificent Seven after a 12-hour service outage.
- Brian Madden, chief investment officer at First Avenue Investment Counsel, noted the TSX showed resilience due to its concentration in defensive sectors, describing the contagion effect as "limited."
- Investors await Canadian inflation data from Statistics Canada on Monday, while Nvidia earnings are scheduled for Tuesday and Anthropic plans an initial public offering valued at roughly $1.3 trillion.
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Winnipeg Free Press+3 Reposted by 3 other sources
S&P/TSX composite little changed in late-morning trading, U.S. stocks down
TORONTO - Canada's main stock index was little changed in late-morning trading, as losses in base metal and technology stocks were offset by gains in the utility and telecom sectors.
·Winnipeg, Canada
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Canada's main stock index remained virtually unchanged on Friday late in the morning, as the declines in the base metals and technology sectors were offset by increases in the community services and telecommunications sectors.
·Montreal, Canada
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Coverage Details
Total News Sources10
Leaning Left4Leaning Right0Center4Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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