Inflation, retail sales revealed
The S&P/TSX composite index was down 27.25 points to greet noon at 15,528.84
The Canadian dollar was down
Analysts had generally estimated Royal would have
The TSX energy sector declined, as Imperial Oil slipped
The base metals component gained ground as September copper rose
The gold sector was flat as Barrick Gold settled
On the economic front, Statistics Canada reported this morning that inflation dipped some last month. Consumer prices rose 2.1% in the 12 months to July, following a 2.4% increase in June. But, on a seasonally-adjusted monthly basis, CPI fell 0.1% in July, after rising 0.3% in June.
The agency also told us that retail sales continued their winning streak in June, up 1.1% to
The 14 Toronto subgroups were evenly divided between gainers and losers, information technology and consumer staples co-leading the former group, up 0.4% each, while gold inching up 0.2%.
The seven laggards were weighed by financials, down 0.5%, global base metals, off 0.4%, and energy, down 0.3%.
Geopolitical concerns, not today's speech by Fed chair
The Dow Jones Industrials dropped 20.61 points to greet noon at 17,018.88
The S&P 500 faded 1.90 points to 1,990.47. The NASDAQ gained 9.91 points to 4,542.01
Still, barring a Friday shakeup, the three main indexes are on track to log weekly advances. The S&P 500 is up 1.9% for the week, the Dow is up 2.4% and the NASDAQ, 1.6%.
Women's apparel retailer Ann Inc. posted second-quarter earnings and sales that topped analysts' expectations, but offered muted third-quarter guidance. Shares fell 5%.
AÉropostale Inc. shares dropped 9% after the clothing retailer's forecast a wider-than-expected loss for the fiscal third quarter.
Apple Inc. shares were up 0.6%. The company's suppliers are struggling to get enough screens ready for the launch of the bigger-screened iPhone 6 next month, according to a report by Reuters, citing unnamed sources.
GameStop Corp. shares climbed 6% after the videogame retailer's third-quarter earnings forecast outpaced estimates.
Yellen, at her speech at the annual gathering of central bankers in
Balancing this more hawkish tone, Yellen said that 19 labour market indicators followed by the Fed suggest that the decline in the unemployment rate overstates the improvement in overall labor market conditions.
Minutes of the Fed's meeting in July, released this week, showed senior officials are becoming increasingly divided on how fast the labour market is improving. But many Fed policy makers believe more improvement is needed before they begin raising interest rates.
Stocks traded roughly flat after Yellen's speech, then slumped to session lows after reports said
Prices for 10-year U.S. Treasuries gained strength, lowering yields back to Thursday's 2.41%. Treasury prices and yields move in opposite directions.
Oil prices dipped
Gold prices gained
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