By Avinash P and Pranav Kashyap
Nov 13 (Reuters) -
Canada's main stock index was set to snap a four-day winning
streak on Thursday, retreating from record highs as tech shares
slid.
At 09:52 a.m. ET, Toronto's S&P/TSX composite index
slipped 0.41%, on track to break its longest winning
streak in over a month, after Wednesday's record close powered
by metal miners and upbeat Loblaw ( LBLCF ) earnings.
The commodity-heavy index has repeatedly set records this
year, supported by higher oil, gold and copper prices amid
geopolitical tensions and economic uncertainty.
The tech sub-index fell 3% on Thursday, leading
losses.
But the energy index rose 0.6% as oil prices
ticked higher.
President Donald Trump on Wednesday signed legislation
ending the longest government shutdown in U.S. history, hours
after lawmakers voted to restore food assistance, pay federal
workers and revive air traffic control operations.
Investors now await delayed U.S. economic data, particularly
labor market indicators, for clues on the Fed's policy stance.
"We would not be surprised to see some market chop over the
coming weeks as the government gears and economic data presses
get turning again. The data blackout has made the Federal
Reserve's job difficult, but we still expect them to cut
interest rates again in December," said Carol Schleif, chief
market strategist, BMO Private Wealth.
In corporate news, Pan American Silver Corp's ( PAAS )
revenue and profit beat estimates for the third quarter. Shares
of the miner were up 2.4%.
Shares of power company Northland Power fell 24%
after reporting a net loss in the third quarter. The wider
utility index was down 1.1%
Manulife Financial ( MFC ) reported a rise in third-quarter
profit, helped by strong performance in the insurer's Asia unit.
Shares were up 2%.
At least six brokerages raised the target price on CCL
Industries ( CCLLF ) following third-quarter results on Tuesday,
sending its shares 1.3% higher.