Canadian stocks moved lower on Thursday as sinking gold and copper prices coupled with rising crude prices revived inflation concerns. This also bolstered expectations for a prolonged high-interest-rate environment in the US Investors were also rattled by renewed scrutiny of AI spending after Meta (NASDAQ:META) released its latest results.
Meanwhile, US markets faced additional pressure from declines in technology giants Meta and Tesla (NASDAQ:TSLA), alongside a jump in oil prices linked to growing geopolitical tensions.
| TSX | 35,973.45 | -351.54 |  |
| TSXV | 821.96 | -26.58 | |
| CSE | 136.80 | -5.81 | |
| DJIA | 52,867.98 | +11.89 |  |
| NASDAQ | 26,008.86 | -694.00 | |
| S&P 500 | 7,663.43 | -93.74 | |
The Canadian dollar traded for 71.35 cents US compared to 71.14 cents US on Wednesday.
US crude futures traded US$1.92 higher at US$99.07 a barrel, and the Brent contract rose US$3.88 to US$112.70 a barrel.
The price of gold was down US$110.40 to US$4,022.24.
In world markets, the Nikkei was down 1,713.40 points to ¥62,907.84, the Hang Seng was down 717.19 points to HK$22,934.68, the FTSE was down 25.23 points to ₤10,727.65, and the DAX was down 273.29 points to €25,371.75.