The finance sector’s support was not enough to prevent Canada’s main stock index from declining on Thursday. Losses in the mining, industrials, tech, and energy sectors weighed heavily on the TSX. However, gains in healthcare, utilities, and telecom stocks helped to limit the overall losses.
Investors on both sides of the border are cautious ahead of the release of U.S. economic data. U.S. stocks have been struggling, and Wall Street has been facing challenges since the start of September trading. The upcoming August nonfarm payrolls report, scheduled for release on Friday, could have an impact on the Federal Reserve’s interest rate decision later this month.
The Canadian dollar traded at 74.01 cents U.S. compared to 73.79 cents U.S. on Wednesday. U.S. crude futures saw a slight decrease to $69.20 a barrel, while the Brent contract rose to $72.71 a barrel.
Gold prices increased by US$17.85 to reach US$2,513.89. In global markets, the Nikkei, Hang Seng, and FTSE indexes experienced declines, while the DAX saw a slight increase.
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