Losses among mining, financial and tech shares outweighed energy and telecom gains for the TSX. As global investor unrest continued, Canada’s main stock index was brought down by a spike in U.S. bond yields, on prospects of no interest rate cuts any time soon and escalating Middle East tensions.
U.S. markets also fell. Federal Reserve Chairman Jerome Powell said the U.S. central bank would be “proceeding carefully” on further interest rate hikes. Traders question how the Fed will proceed on monetary policy, given that Treasury yields have eased off from session highs. Tesla and Netflix kicked earnings season into high gear. Netflix soared 16.0 per cent after announcing it was raising prices for some of its plans in the U.S., Britain, and France after adding 9 million subscribers in Q3 2023. The quarter wasn’t so kind to Tesla, which missed Wall Street estimates for Q3 on gross margin, profit and revenue. The electric-vehicle (EV) maker lost 9.3 per cent.
| TSX | 19,348.81 | -101.89 |  |
| TSXV | 523.82 | -2.02 | |
| CSE | 168.98 | +0.69 |  |
| DJIA | 33,414.17 | -250.91 | |
| NASDAQ | 13,186.17 | -128.13 | |
| S&P 500 | 4,277.98 | -36.62 | |
The Canadian dollar traded for 72.91 cents U.S., compared to 72.94 cents U.S. on Wednesday.
U.S. crude futures traded $2.16 higher at $90.48 a barrel, and the Brent contract added $1.80 to $93.30 a barrel.
The price of gold was up US$24.17 to US$1,975.10.
In world markets, the Nikkei was down 611.63 points to 31,430.62, the Hang Seng was down 436.63 points to 17,295.89, the FTSE was down 88.47 points to 7,499.53, and the DAX was down 49.68 points to 15,045.23.
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