The TSX opened lower Thursday, tracking global markets after Fed Chair Jerome Powell downplayed the likelihood of another U.S. rate cut this year. Losses in energy and financials weighed on the index, while gold prices advanced as investors rotated toward defensive assets.
In corporate news, Corus Entertainment reported a $277.1 million loss for its fiscal fourth quarter, as ad revenue continued to decline in a challenging media landscape. Meanwhile, Alphabet shares jumped 8% after the company posted record quarterly revenue above $100 billion, fuelled by strong demand for AI-driven cloud services.
Market numbers
TSX: Down (0.90%), 30,144.78
TSXV: Down (0.54%), 897.31
DOW: Down (0.16%), 47,632.01
NASDAQ: Up (0.41%), 26,119.85
FTSE: Up (0.51%), 9,767.50
In the headlines
- Corus swings to $277M loss – Corus Entertainment (TSX:CJR.B) reported a $277.1 million fourth-quarter loss as revenue fell 14% year over year. The broadcaster cited lower advertising and content revenues as key factors, alongside ongoing cost-cutting measures.
- Alphabet hits $100B in revenue – Alphabet (NDAQ:GOOG) stock rallied 8% after reporting quarterly revenue above $100 billion for the first time, driven by cloud and advertising growth. The company’s performance offset broader tech volatility following Meta’s 7% post-earnings drop.
Currencies
USD: Down (0.45%), $0.7135
GBP: Up (0.04%), $0.5433
EUR: Down (0.06%), $0.6174
JPY: Up (0.66%), ¥110.20
Bitcoin: Down (1.35%), US$108,541.80
(Conversion to C$1)
Commodities
Copper: Down (1.56%), 5.1665
Gold: Up (1.07%), 3,971.88
WTI: Down (0.82%), 60.15
Natural Gas: Up (2.58%), 3.90
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