Canada’s benchmark stock index ended lower on Friday, weighed down by weakness in the technology and materials sectors, as earnings from major US tech firms intensified investor concerns over rising artificial intelligence spending. Meanwhile, stronger oil prices added to the cautious mood in the market.
Canada and the European Union have launched the “Alliance for the Future,” a wide-ranging partnership aimed at deepening cooperation in trade, technology, energy, security, and supply chains while exploring an even closer long-term relationship that could eventually include a new form of associate membership for Canada.
South of the border, the NASDAQ Composite posted sharp losses and the Dow Jones Industrial Average also moved lower as investors rotated out of AI-linked stocks and into more defensive sectors. Shares of Amazon (NASDAQ:AMZN) declined after the company reported third-quarter earnings and revenue that missed Wall Street expectations. Intel (NASDAQ:INTC) also came under pressure after issuing a disappointing outlook for the current quarter, citing a slowdown in the PC market. Semiconductor stocks broadly followed suit, ending the session lower.
| TSX | 35,620.03 | -629.00 |  |
| TSXV | 803.78 | -22.86 | |
| CSE | 135.09 | -5.73 | |
| DJIA | 51,770.31 | -572.25 | |
| NASDAQ | 25,437.00 | -747.73 | |
| S&P 500 | 7,580.07 | -140.32 | |
The Canadian dollar traded for 71.60 cents US compared to 71.47 cents US on Thursday.
US crude futures traded $0.96 higher at US$103.00 a barrel, and the Brent contract rose US$1.56 to US$112.40 a barrel.
The price of gold was down US$142.17 to US$3,876.47.
In world markets, the Nikkei was down 1,369.36 points to ¥63,290.11, the Hang Seng was up 335.77 points to HK$23,294.42, the FTSE was up 0.88 of a point to ₤10,722.95, and the DAX was down 221.47 points to €25,818.21.
