TSX Ends Sharply Lower For 2nd Straight Day

RTTNews | vor 396 Tagen

(RTTNews) - Canadian stocks tumbled on Friday as weak U.S. jobs data added to fears the world's largest economy could slip into a recession. Some disappointing earnings updates from top U.S. and Canadian companies weighed as well.

The benchmark S&P/TSX Composite Index, which plunged to a low of 22,020.18 around late morning, losing about 700 points in the process, ended down 495.58 points or 2.18% at 22,227.63. The index lost 2.6% in the week.

Technology, energy, materials, financials, industrials and healthcare stocks fell sharply.

The Information Technology Capped Index dropped 4.47%. Bitfarms Ltd. (BITF.TO) tanked nearly 12%. Lightspeed Commerce (LSPD.TO) plunged 9.4% and Celestica Inc (CLS.TO) plummeted 8%.

Open Text Corp (OTEX.TO), Shopify Inc (SHOP.TO), Computer Modelling Group (CMG.TO), Kinaxis Inc (KXS.TO), BlackBerry (BB.TO), Descartes Systems Group (DSG.TO), Constellation Software (CSU.TO) and Docebo Inc (DCBO.TO) lost 3 to 7%.

The Energy Capped Index ended down 4.34% as stocks fell sharply on weak crude oil prices. Baytex Energy (BTE.TO), Precision Drilling Corporation (PD.TO), Parex Resources (PXT.TO), Veren Inc (VRN.TO), Vermilion Energy (VET.TO), Nuvista Energy (NU.TO), MEG Energy (MEG.TO) and Cenovus Energy (CVE.TO) lost 5 to 8%.

The Materials Capped Index ended down 2.35%. Methanex Corp (MX.TO), Iamgold Corp (IMG.TO), Hudbay Minerals (HBM.TO), Pan American Silver Corp (PAAS.TO), Kinross Gold Corp (K.TO), Teck Resources (TECK.B.TO) and Nutrien (NTR.TO) closed lower by 4 to 6%.

In the financials sector, Fairfax Financial Holdings (FFH.TO) ended down 5.1%. Power Corporation of Canada (POW.TO), Onex Corp (ONEX.TO), Manulife Financial (MFC.TO), goeasy (GSY.TO), Toronto-Dominion Bank (TD.TO), Bank of Montreal (BMO.TO), CDN Western Bank (CWB.TO) and National Bank of Canada (NA.TO) lost 2 to 4.1%.

Bombardier Inc (BBD.B.TO), Ballard Power Systems (BLDP.TO), Badger Infrastructure (BDGI.TO), Snc-Lavalin Group (ATRL.TO) and Cargojet (CJT.TO) were among the major losers in the industrials sector.

Healthcare stocks Bausch Health Companies (BHC.TO) and Tilray Inc (TLRY.TO) ended down 8% and 6.8%, respectively.

Data from the Labor Department said non-farm payroll employment climbed by 114,000 jobs in July after jumping by a downwardly revised 179,000 jobs in June. Economists had expected employment to rise by 175,000 jobs compared to the surge of 206,000 jobs originally reported for the previous month.

The Labor Department also said the unemployment rate rose to 4.3% in July from 4.1% in June. Economists had expected the unemployment rate to remain unchanged.

Australia GDP Data Due On Wednesday

Australia will on Wednesday release Q2 figures for gross domestic product, highlighting a modest day for Asia-Pacific economic activity. GP is expected to rise 0.5 percent on quarter and 1.6 percent on year, up from 0.2 percent on quarter and 1.3 percent on year in the three months prior.

RTTNews | vor 20 Minuten

U.S. Dollar Climbs Amid Rising Treasury Yields

The U.S. dollar strengthened against its major counterparts in the New York session on Tuesday, as investors awaited upcoming nonfarm payrolls data.

RTTNews | vor 45 Minuten

Swiss Shares Extend Losing Streak

The Swiss stock market closed under pressure again on Tuesday, stretching its losing streak to three sessions while giving up more than 130 points or 1.1 percent in that span.

RTTNews | vor 5Std 31 Minuten

Eurozone Inflation Path Suggests ECB Unlikely To Cut Rates Further

Euro area inflation modestly accelerated to a four-month high, and the core figure was steady around the 2 percent target in August as a slight slowing in both food price growth and services inflation was offset by a smaller decline in energy prices, which suggests that the European Central Bank is set to hold interest rates steady in future policy sessions.

RTTNews | vor 5Std 37 Minuten

European Markets Finish In The Red On Tuesday

The major European markets finished firmly under water on Tuesday after Eurostat data showed Eurozone inflation rose to 2.1 percent last month, climbing above the European Central Bank's 2 percent target for the first time since April driven by higher prices for food, alcohol and tobacco.

RTTNews | vor 5Std 44 Minuten

U.S. Construction Spending Unexpectedly Edges Lower In July

A report released by the Commerce Department on Tuesday showed construction spending in the U.S. unexpectedly edged slightly lower in the month of July. The Commerce Department said construction spending slipped by 0.1 percent to an annual rate of $2.139 trillion in July after falling by 0.4 to a revised rate of $2.141 trillion in June.

RTTNews | vor 7Std 45 Minuten

Domino's Launches Two New Delectable Bread Bites Flavors

Domino's Pizza, the largest pizza company in the world, announced the launch of two new Bread Bite flavors: Cinnamon and Garlic, to join Domino's Parmesan Bread Bites, adding to its line of oven-baked mouthwatering options for customers to enjoy.

RTTNews | vor 7Std 57 Minuten

U.S. Manufacturing Index Inches Up In Line With Estimates In August

The Institute for Supply Management released a report on Tuesday showing a slight increase by its reading on U.S. manufacturing activity in the month of August, although the index still indicated the sixth consecutive month of contraction.

RTTNews | vor 7Std 59 Minuten

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