Stocks Fall by Thursday Noon
Canada's commodity-inclined index fell on Thursday with gold miners and tech stocks leading declines, while data suggesting tight labor conditions in the United States raised fears about the Federal Reserve keeping rates higher for longer.
The TSX remained negative 144.13 points to approach lunch time Thursday at 19,444.70.
The Canadian dollar dwindled 0.55 cents at 73.60 cents U.S.
Tech stocks stumbled, as HUT 8 Mining collapsed seven cents, or 5.4%, to $1.23, while Alithya Group dropped a dime, or 4.4%, to $2.16.
Shopify lost $1.45, or 2.9%, to $49.16 after Jefferies downgraded the ecommerce firm to 'hold' from 'buy'.
In health-care, Tilray handed back nine cents, or 2.3%, to $3.90, while Canopy Growth let go of 13 cents, or 4.6%, to $3.27.
In gold stocks, OceanaGold skidded 13 cents, or 4.6%, to $2.73, while Yamana Gold lost 20 cents, or 2.5%, to $7.77.
Energy stocks gained for a change, with Tamarack Valley Energy climbing eight cents, or 2%, to $4.18, and Crescent Point Energy picking up 16 cents, or 1.8%, to $8.92. In consumer discretionary stocks, Spin Master grabbed 72 cents, or 1.8%, to $8.92, while Canada Goose Holdings flew 77 cents, or 3.1%, to $25.80.
On the economic slate, Statistics Canada reported our international merchandise trade decreased 2.3% in November, while imports were down 2.1%. As a result, Canada's merchandise trade balance with the world went from a surplus of $130 million in October to a deficit of $41 million in November.
ON BAYSTREET
The TSX Venture Exchange slid 3.1 points to 569.96.
All but two of the 12 subgroups were in the red midday, with information technology swooning 1.9%, health-care falling 1.7%, and gold weakening 1.6%.
Energy gained for a change, 1%, while consumer discretionary stocks advanced 0.6%.
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