Energy stocks jump
The S&P/TSX composite index gained 42.26 points to finish Wednesday at 14,119.73
The Canadian dollar dropped
On the earnings front, Sherritt International Corp. reported a
Sherritt also cut its quarterly cash dividend to
Cargojet shares jumped
The energy sector advanced, as
Canadian Natural Resources Ltd. jumped
Financials were supportive with the group up 0.66 per cent. RBC shares improved
The gold sector rose as Barrick Gold gave back
The base metals sector declined, while March copper was unchanged at
On the economic front, Statistics Canada reported that wholesale trade for December stumbled 1.4% to
The 14 Toronto subgroups were evenly split between gainers and losers. Energy stocks shot up 1%, while real-estate issues prospered 0.6%, and financials 0.5%.
The seven laggards were weighed by gold, down 2.2%, materials, sliding 1.2%, and the metals and mining group, off 0.8%.
Stocks were lower Wednesday, as investors digested minutes from the Federal Reserve's last meeting and grappled with disappointing economic data.
The Dow Jones Industrial Average plunged 89.84 points to close at 16,040.56
The S&P 500 index subsided 12.01 points to 1,828.75. The NASDAQ fell 34.83 points to 4,237.95
The broader market may be down. But some prominent stocks were moving higher. Shares of Zale surged about 40% after Signet Jewelers unveiled a deal to acquire the
GPS device maker Garmin reported an increase in quarterly earnings on a slight drop in revenue, sending shares up 10%.
Spirit Airlines shares gained ground after the discount airline said that it more than doubled its adjusted net income for the quarter.
On the downside, Herbalife shares slipped even after the controversial seller of nutrition products, reported a double-digit percentage jump in quarterly profit, fueled by sales in
Tesla will report results after the close. The electric car maker already said it sold a higher number of its Model S sedan in the fourth quarter. Investors are hoping for more news from CEO
Meanwhile, shares of Facebook rose to an all-time high of
On the economic front, housing starts fell sharply in January, as bad winter weather took a hit on construction.
The Fed released minutes from its January meeting in which it decided to further reduce, or taper, its monthly bond purchases. Though last month's decision to continue to cut back on its stimulus measures was unanimous among the Fed's 10 voting members, investors looked for hints of how the Fed might act in the future.
To that end, the Federal Reserve indicated that it may scrap its 6.5% unemployment rate target for raising the key federal funds rate since the jobless rate is quickly approaching that threshold despite weak gains in hiring.
Prices for 10-year U.S. Treasuries lost ground, raising yields to 2.73% from Tuesday's 2.71%. Treasury prices and yields move in opposite directions
Oil prices gained
Gold prices slid
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