CP, Loblaw in focus
The S&P/TSX composite index gained 20.87 points to begin the day at 15,247.21. This, after a surge of 145 points on Wednesday.
The Canadian dollar slipped
Canadian Pacific posted second-quarter net income of
In the U.S., Morgan Stanley handily beat profit and revenue estimates for the second quarter. The bank said earnings rose 47% to
Late Wednesday, West Fraser Timber Co. said net income in the latest quarter was
Revenue rose to
In other corporate developments, Loblaw Companies says
The move has Weston replacing
Weston was formerly executive chairman of the company, which is a longtime family business and a subsidiary of George Weston Ltd. Loblaw posts financial results on
Elsewhere on the economic front, Statistics Canada reported this morning that foreign investors bought up
Nine of the 14 Toronto subgroups were lower at the beginning, as global base metals and consumer discretionary stocks each settled 0.5%, and information technology sank 0.4%.
The five gainers were led by industrials, up 1%, gold, up 0.5%, and materials, ahead 0.2%.
Markets experienced a pullback Thursday after the Dow Jones industrial average cruised to a new record high.
The Dow Jones Industrials dipped 15.78 points to 17,122.42.
The S&P 500 skidded 3.13 points to 1,978.14, and the NASDAQ composite waned 3.49 points to 4,422.48
Shares in SanDisk fell nearly 10% pre-market after its quarterly report disappointed investors. Fiat owner of Chrysler -- was up nearly 4% in
Earnings season continues, with Morgan Stanley reporting results before the opening bell. The finance firm reported quarterly gains in net income and revenue, compared to the year-earlier quarter.
Shares in the bank were trading up 0.7% pre-market. Google and IBM are slated to report earnings after the close.
Economically speaking, the
Meantime, the number of housing starts and building permits issued in June declined 9.3% to a seasonally adjusted annual 893,000 million unit-pace, the lowest since September, that word from the
Economists polled by Reuters had forecast starts rising to a 1.02 million-unit rate last month.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.50% from Wednesday's 2.54%. Treasury prices and yields move in opposite directions.
Oil prices regained
Gold prices hiked
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