Canada’s main stock index sunk on Thursday as investors paused after a record-setting session, turning their attention to forthcoming economic reports from the US. The tech segment was the biggest loser for the TSX by far, though the mining and industrials sectors also contributed to the drop.
Meanwhile, US markets were flat with the S&P 500 and NASDAQ Composite sitting shy of their record highs achieved in the previous session. The Labor Department reported that wholesale inflation rose sharply last month, with the Producer Price Index (PPI) jumping 0.9 per cent from June — the largest monthly increase in more than three years. Compared to the same time last year, wholesale prices were up 3.3 per cent. This surge suggests that President Donald Trump’s tariffs on imports are driving up costs for businesses, which could eventually lead to higher prices for consumers. For now, it appears that importers are absorbing the extra costs rather than passing them on to shoppers.
| TSX | 27,915.99 | -77.44 |  |
| TSXV | 779.81 | -6.65 | |
| CSE | 160.51 | -2.75 | |
| DJIA | 44,911.26 | -11.01 | |
| NASDAQ | 21,710.67 | -2.47 | |
| S&P 500 | 6,468.54 | +1.96 |  |
The Canadian dollar traded for 72.42 cents US compared to 72.66 cents US on Wednesday.
US crude futures traded US$1.39 higher at US$64.04 a barrel, and the Brent contract rose US$1.33 to US$66.96 a barrel.
The price of gold was down US$19.19 to US$3,338.70.
In world markets, the Nikkei was down 625.41 points to ¥42,649.26, the Hang Seng was down 94.35 points to HK$25,519.32, the FTSE was up 12.01 points to ₤9,177.24, and the DAX was up 191.91 points to €24,377.50.
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.
