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Canadian Market Looks Headed For Weak Close
(RTTNews) - The Canadian market is down in negative territory Friday afternoon, weighed down by losses in technology, financials and materials sectors.
Worries about the impact of rising interest rates on global economic growth, and surging Covid cases in China are weighing on sentiment.
An escalation in Russia-Ukraine tensions appears to be hurting as well.
The benchmark S&P/TSX Composite Index is down 143.00 points or 0.73% at 19,342.89. The index has shed nearly 5% this year.
Shopify Inc (SHOP.TO) and Telus Corporation (T.TO) are down 2.1% and 1.7%, respectively, on huge volumes.
Brookfield Asset Management (BAM.TO) is down 3.7%. Magna International (MG.TO), Onex Corporation (ONEX.TO), Constellation Software (CSU.TO), Cargojet (CJT.TO), Canadian National Railway (CNR.TO), Royal Bank of Canada (RY.TO), West Fraser Timber (WFG.TO) and Canadian Pacific Railway (CP.TO) are down 1 to 2%.
Shaw Communications (SJR.B.TO) is soaring nearly 10% on huge volumes. Rogers Communications (RCI.B.TO) is rising 5.5%, while Athabasca Oil Corporation (ATH.TO), Tamarack Valley Energy (TVE.TO), Whitecap Resources (WCP.TO) and Baytex Energy Corp (BTE.TO) are up 2 to 4%.
U.S. Dollar Falls As Weak Jobs Data Lifts Rate Cut Hopes
European Stocks Close Sharply Lower As Trump's Tariff Move Hurts Sentiment
Canadian Market Remains Firmly Down In Negative Territory On Tariff Worries
U.S. Construction Spending Unexpectedly Sees Further Downside In June
U.S. Consumer Sentiment Improves Marginally Less Than Previously Estimated In July
U.S. Manufacturing Index Unexpectedly Dips To Nine-Month Low In July
Eurozone Inflation Steady At 2% ECB Target
