Gold jumps, oil slumps
Equity markets in
The S&P/TSX composite index faded 2.84 points to greet noon at 15,111.64
The Canadian dollar dropped
Worries about soft growth will keep the Bank of
The gold-mining sector jumped with Barrick Gold advancing 2.2% to
With oil prices slipping, shares of energy producers declined as Suncor Energy Inc shed 1% to
On the economic beat, Statistics Canada reported this morning that Canadian economy unexpectedly shed 9,400 jobs in June and the unemployment rate rose to 7.1% from 7.0% in May, underlining how employment growth has stalled despite a recovery in
In all, 10 of the 14 Toronto subgroups were higher, with gold up 1.7%, health-care gaining 0.9% and materials better by 0.8%.
The four laggards were weighed by energy, down 1.2%, consumer staples, down 0.3%, and the metals and mining sector, fading 0.1%.
The Dow Jones industrial average, the S&P 500 and the NASDAQ were all drifting between small gains and losses. Perhaps it's a bit of relief from Thursday when stock tumbled as worries about a banking crisis in
The Dow gave back 23.15 points to 16,891.92
The S&P 500 fell 2.09 points to 1,962.35, and the NASDAQ composite pulled ahead 6.51 points to 4,402.71.
Shares of Wells Fargo were under pressure after the nation's largest bank by market cap reported earnings that were in line with analysts' expectations.
Wells Fargo is the first major U.S. bank to report second-quarter results. Citibank ,JPMorgan, Goldman Sachs,
Imperial Tobacco, a global tobacco company based in
Amazon has asked the
Trading in shares of Cynk Technology, which have soared 25,000% since mid-June, was halted Friday by the
Major European exchanges regained composure Friday, bouncing back after worries over a Portuguese bank eased.
Shares in Banco Espirito Santo were suspended on Thursday, but not before they slumped 17%, taking losses for the year to 46%. Banco Esperito resumed trading Friday and said it has sufficient capital to cover any losses. The stock stabilized Friday after regulators announced a temporary ban on short selling in the bank's shares.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.51% from Thursday's 2.53%. Treasury prices and yields move in opposite directions.
Gold prices sank
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