Despite scoring gains for most of this week and reaching s record high twice. Canada’s main stock index retreated on Friday. The financial markets led the TSX in losses, followed by tech, while energy led the gainers.
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The latest producer price index report came in significantly hotter than expected, adding persistent inflation worries to the list of factors driving market volatility this month. January’s PPI, which tracks wholesale inflation, rose 0.5 per cent—above the 0.3 per cent increase economists surveyed by Dow Jones had forecast. Even more troubling, the core PPI—which strips out food and energy—jumped 0.8 per cent, far exceeding expectations for a 0.3 per cent gain.
Concerns are also rising about how artificial intelligence may affect certain industries and the broader economy. Those worries intensified after Jack Dorsey’s fintech company, Block, announced plans to cut more than 4,000 jobs, nearly half of its workforce. Financial stocks and other economically sensitive sectors retreated on Friday, while several major software companies also posted losses, capping off a difficult month marked by anxiety over AI-driven disruption in the industry.
| TSX | 34,339.99 | -161.97 |  |
| TSXV | 1,107.60 | +0.91 |  |
| CSE | 174.55 | -0.54 | |
| DJIA | 48,977.92 | -521.28 | |
| NASDAQ | 22,668.21 | -210.17 | |
| S&P 500 | 6,878.88 | -29.98 | |
The Canadian dollar traded for 73.34 cents US compared to 73.09 cents US on Thursday.
US crude futures traded US$2.04 higher at US$67.25 a barrel, and the Brent contract rose US$1.73 to US$72.48 a barrel.
The price of gold was up US$84.22 to US$5,261.74.
In world markets, the Nikkei was up 96.88 points to ¥58,850.27, the Hang Seng was up 249.52 points to HK$26,630.54, the FTSE was up 73.11 points to ₤10,919.81, and the DAX was down 4.76 points to €25,284.26
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