S&P/TSX Composite slips 0.1% to 36,730 as tech shares retreat

Canada’s S&P/TSX Composite Index fell 0.1% to close at 36,730 on Friday, easing back from the record high reached in the previous session as weakness in technology and retail stocks offset strength in financials and gold miners. The technology sector tracked declines in Wall Street-listed hyperscalers, with Shopify down 3%, Constellation Software off 2.3% and Celestica tumbling 4%. Retailers also moved lower after disappointing U.S. data pointed to a slowdown in the sector, with ATD shedding 0.7% and Loblaw losing 1.1%. Industrials were mostly weaker as well, and Enbridge fell 1.2% even after fresh data showed growth in Canada’s factory sales. Financial stocks were mostly higher despite energy-led inflation pressures, as signs of U.S. macroeconomic headwinds reinforced expectations that the Federal Open Market Committee, or FOMC (U.S. Federal Reserve rate-setting panel), will hold rates steady at its next meeting. TD Bank rose 0.5% and CIBC gained 0.8%. Gold prices advanced on U.S. monetary policy expectations, helping miners including Agnico Eagle, up 2.9%, while WPM and Barrick each added 1.3%.

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S&P/TSX Composite slips 0.1% to 36,730 as tech shares retreat - CoinPost Terminal