Canada’s main stock index sunk lower on Thursday, weighed down by steep drops in precious metals and crude oil prices as investors reviewed a new batch of corporate earnings from Wall Street. Meanwhile, the federal government unveiled its national automotive strategy, replacing the electric vehicle mandate with updated fuel‑efficiency standards and a revised credit system.
The S&P 500 declined for a third day, with Alphabet and Qualcomm tumbling after releasing their earnings and as losses in cryptocurrencies deepened. Alphabet became the latest member of the so‑called Magnificent Seven to publish results, forecasting a significant jump in artificial intelligence investment and outlining capital expenditures of up to US$185 billion for 2026. Its shares were down. Qualcomm fell after issuing a weaker‑than‑expected outlook tied to a global memory shortage.
| TSX | 31,994.60 | -576.95 |  |
| TSXV | 969.65 | -68.83 | |
| CSE | 161.57 | −9.36 | |
| DJIA | 48,908.72 | -592.58 | |
| NASDAQ | 22,540.59 | -363.99 | |
| S&P 500 | 6,798.40 | -84.32 | |
The Canadian dollar traded for cents 73.05 US compared to 73.12 cents US on Wednesday.
US crude futures traded US$1.78 lower at US$63.36 a barrel, and the Brent contract lost US$1.87 to US$67.59 a barrel.
The price of gold was down US$60.90 to US$4,868.92.
In world markets, the Nikkei was down 475.32 points to ¥53,818.04, the Hang Seng was up 37.92 points to HK$26,885.24, the FTSE was down 93.12 points to ₤10,309.22, and the DAX was down 111.98 points to €24,491.06.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.