financetom
World
financetom
/
World
/
CANADA STOCKS-TSX retreats as materials and tech lead decline
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CANADA STOCKS-TSX retreats as materials and tech lead decline
Oct 9, 2025 8:07 AM

(Updates with morning prices)

By Ragini Mathur

Oct 9 (Reuters) - Canada's main stock index fell on

Thursday, with metal miners and technology stocks surrendering

recent gains, as investor focus turned towards Friday's crucial

domestic employment report for insights into the country's

economic health.

Toronto's S&P/TSX composite index was down 0.4% at

30,387.35 points, erasing the modest gains it had achieved at

the market open.

The decline was broad-based, with 10 of the index's 13

sectors trading in negative territory.

The energy sector bucked the downward trend,

advancing 1.2%, after experiencing a slight 0.1% dip in the

previous session.

Similarly, healthcare stocks climbed 1.2%,

bolstered by cannabis company Curaleaf Holdings ( CURLF ), which

surged 4.2%, after receiving a "buy" rating from Canaccord

Genuity analysts who initiated coverage of the stock.

However, the materials sector declined 0.7% as

gold prices eased, though they remained above the $4,000

threshold reached during Wednesday's trading.

Information and technology stocks dropped 0.5%

after gaining about 3% in the previous session.

The TSX has recently notched several all-time highs, riding

the momentum of gold's ascent - a rally fueled by heightened

geopolitical uncertainties, economic concerns, and persistent

expectations for U.S. interest rate cuts.

Market attention now pivots to Friday's Canadian employment

report, which will provide crucial insights into the country's

economic health and likely influence the Bank of Canada's

upcoming monetary policy decision.

"Generally, there's positive sentiment around economic

conditions," said Josh Sheluk, portfolio manager at Verecan

Capital Management, adding that while the economy is perceived

to be slowing, it is not seen as weakening or contracting

outright.

"However, in the employment picture, what we've observed

over recent months, perhaps even longer, is a gradual softening,

and markets will be closely watching whether we see some

stabilization in those numbers".

Meanwhile, south of the border, U.S. Federal Reserve Chair

Jerome Powell offered no fresh policy signals in his latest

comments, leaving investors to rely on existing data to guide

market sentiment.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
CANADA STOCKS-TSX futures rise as global tech rout subsides
CANADA STOCKS-TSX futures rise as global tech rout subsides
Jan 28, 2025
Jan 28 (Reuters) - Futures tied to Canada's main stock index edged higher on Tuesday as selling pressures eased after the previous session's tech-driven fall in global equity markets. March futures on the S&P/TSX index were up 0.15% at 6.37 a.m. ET (1137 GMT). On Monday, the Toronto Stock Exchange's S&P/TSX composite index gave back some of its impressive gains...
Asian Equities Traded in the US as ADRs Rise in Tuesday Trading
Asian Equities Traded in the US as ADRs Rise in Tuesday Trading
Jan 28, 2025
10:42 AM EST, 01/28/2025 (MT Newswires) -- Asian equities traded in the US as American depositary receipts rose Tuesday morning with the S&P Asia 50 ADR Index gaining 1% to 2,110.05. From North Asia, the gainers were led by consumer lending firm Dunxin Financial (DXF), which more than tripled, followed by automotive ecommerce platform TuanChe ( TC ) , which...
CANADA STOCKS-TSX opens higher as tech shares rebound
CANADA STOCKS-TSX opens higher as tech shares rebound
Jan 28, 2025
Jan 28 (Reuters) - Canada's main stock index opened higher on Tuesday led by information technology shares, as selling pressures eased after the previous session's fall. At 9:32 a.m. ET (1432 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 0.22% at 25344.46. ...
Stocks Rebound Pre-Bell After Tech Sell-Off; Asia Mixed, Europe Rises
Stocks Rebound Pre-Bell After Tech Sell-Off; Asia Mixed, Europe Rises
Jan 28, 2025
07:18 AM EST, 01/28/2025 (MT Newswires) -- US benchmark equity indexes were pointing higher before the open Tuesday as technology stocks make a recovery after closing the previous session lower amid the launch of a new open-source model from Chinese artificial intelligence startup DeepSeek. Standard & Poor's 500 increased 0.3%, the Dow Jones Industrial Average was up slightly and the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved