Canada’s main stock index struggled to find direction on Friday, pulled between worries over looming tariffs and positive domestic economic data.
The TSX Composite Index poked into positive territory, gaining 20.11 points by noon EST on the last day of the month at 25,148.35.
After surging more than 3% in January, the index is heading toward a more-than-1% loss in February.
The Canadian dollar gained 0.12 at 69.35 cents U.S.
In corporate news, Laurentian Bank reported first-quarter profit above analysts’ estimates. Laurentian shares lost 70 cents, or 2.5%, to $27.05.
Information technology stocks led the declines, driven by a drop of $10.35, or 19.2%, to $43.50, for Docebo after the learning platform reported fourth-quarter results.
On the flip side, industrials gained 0.2%, driven by a gain of $2.08, or 3.4%, for waste management company GFL Environmental, to $64.25, after TD Cowen raised target price on the stock.
On the economic calendar, Statistics Canada says this country’s GDP increased 0.6% in the fourth quarter, after rising 0.5% in the third quarter.
Growth in the fourth quarter was driven by higher household final consumption expenditures and increased exports and business investment.
ON BAYSTREET
The TSX Venture Exchange lost 4.9 points to 610.94
The 12 subgroups were evenly split midday, as real-estate obtained 0.6%, while health-care and industrials each gained 0.4%.
The half-dozen laggards were weighed most by information technology, down 1.2%, while energy and materials each lost 0.6%.
ON WALLSTREET
The S&P 500 rose Friday after the latest personal consumption expenditures price index came in-line with expectations, as Wall Street wrapped up a losing week and month.
The Dow Jones Industrials gained 255.79 points to 43,495.29
The much-broader index recovered 28.08 points, to 5,889.65
The NASDAQ Composite gained 90.99 points to 18,635.41
Month to date, the NASDAQ has led the way down, sliding around 5% in February due largely to a 4.5% drop this week.
The technology-heavy NASDAQ is on pace for its worst month since September 2023.
The S&P 500 has declined 2.1% for the week and around 2.5% in February. The broad market index is on track for its worst week since September 2024, and biggest monthly decline since April 2024.
Meanwhile, the Dow has managed to inch up 0.1% for the week. Month to date, however, the 30-stock index has dropped 2.4%.
The latest PCE reading showed that inflation eased slightly in January, according to a report from the Commerce Report. The PCE price index, which is the Federal Reserve’s preferred inflation measure, increased 0.3% for the month and 2.5% on an annual basis.
Investors have been rattled in recent days by President Donald Trump’s promise of tariffs and recent economic reports flashing warning signs. A decline of 8.5% in megacap tech titan Nvidia in Thursday’s session the back of earnings threw more cold water on investor sentiment.
Prices for the 10-year Treasury gained, lowering yields to 4.24%, compared to Thursday’s 4.28%. Treasury prices and yields move in opposite directions.
Oil prices slid 89 cents to $73.15 U.S. a barrel.
Prices for gold faded $34.30 an ounce to $2,861.60 U.S.
