TSX Down 134 Points Mid-Afternoon, Narrowing Early Losses, As Info Tech Turns to Gain; Resource Stocks Remain Weak


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The TSX narrowed its earlier losses to 134 points come mid-afternoon after info tech stocks moved into the positive territory. But investors are still weighing the impact of disappointing U.S. jobs data and U.S. Fed's plan of raising key rates.

Data showed on Friday that the U.S. added more than 200,000 jobs in July, compared to the analyst forecast of +230,000 that was compiled by Bloomberg. The unemployment rate rose to 6.2% during the month, with more people joining the workforce.

Resource stocks remained the significant decliners, with miners and energy down 1.26% and 1.43%, respectively, along with gold and crude oil prices . Healthcare, which was in the green in the morning, failed to recover and was down 0.39%.

Other losers were financials, down 1.42%, and industrials, which dropped 0.97%.

Info tech, which has been widening its loss since morning, swung to a 0.29% gain in mid-afternoon.

More than 205 million shares have changed hands so far. Bombardier (BBD-B.TO) was the most actively traded stock.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities


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