Canada's benchmark stock index was on track Friday for its second weekly decline of the year as oil and gold prices fell.
As the close approached, the S&P/TSX composite index had slid 79.64 points, or 0.63 per cent, to 12,643.82.
The price of crude oil dropped $2.14 to $106.70 US a barrel on Friday, while gold fell $12.40 to $1,709.80 US an ounce.
The Canadian dollar dipped 25 basis points to $1.0118 US in late-afternoon trading.
Concern that stock markets in the U.S. may have rallied a bit too much led to something of a pullback there on Friday.
``There's a whole too far, too fast thing,'' Rick Fier, vice president of equity trading at Conifer Securities LLC in New York, told Bloomberg. ``We don't think that means it's going to have a huge pullback, but a consolidation would be a relief.''
The Dow Jones industrial average, which had swung between gains and losses Friday afternoon, was down 3.18 points, or 0.02 per cent, to 12,977.12 at the closing bell, while the Nasdaq composite index had slipped 12.78 points, or 0.43 per cent, to 2,976.19.
Asian markets advanced on Friday - the Nikkei in Tokyo rose 0.72 per cent and the Hang Seng in Hong Kong gained 0.81 per cent. European markets were mixed: London's FTSE slipped 0.34 per cent, the CAC in Paris was just above flat with a gain of 0.04 per cent and the DAX in Frankfurt fell 0.29 per cent.
Postmedia News
As the close approached, the S&P/TSX composite index had slid 79.64 points, or 0.63 per cent, to 12,643.82.
The price of crude oil dropped $2.14 to $106.70 US a barrel on Friday, while gold fell $12.40 to $1,709.80 US an ounce.
The Canadian dollar dipped 25 basis points to $1.0118 US in late-afternoon trading.
Concern that stock markets in the U.S. may have rallied a bit too much led to something of a pullback there on Friday.
``There's a whole too far, too fast thing,'' Rick Fier, vice president of equity trading at Conifer Securities LLC in New York, told Bloomberg. ``We don't think that means it's going to have a huge pullback, but a consolidation would be a relief.''
The Dow Jones industrial average, which had swung between gains and losses Friday afternoon, was down 3.18 points, or 0.02 per cent, to 12,977.12 at the closing bell, while the Nasdaq composite index had slipped 12.78 points, or 0.43 per cent, to 2,976.19.
Asian markets advanced on Friday - the Nikkei in Tokyo rose 0.72 per cent and the Hang Seng in Hong Kong gained 0.81 per cent. European markets were mixed: London's FTSE slipped 0.34 per cent, the CAC in Paris was just above flat with a gain of 0.04 per cent and the DAX in Frankfurt fell 0.29 per cent.
Postmedia News
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