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Canada's main stock index was muted on Thursday as investors weighed corporate earnings and stalled U.S.-Iran peace talks, while U.S. PPI data came in softer-than-expected.

The TSX eked up 2.62 points to begin Thursday at 36,664.76.

The Canadian dollar sank 0.04 cents at 71.70 cents U.S.

Stantec late on Wednesday beat second-quarter adjusted profit estimates driven by acquisition growth, while CCL Industries topped second-quarter sales estimates.

CCL shares grabbed 31 cents to $91.89.

Pan American Silver missed quarterly adjusted profit estimates on lower gold output. PanAm dumped $6.55, or 9.1%, to $66.94.
Iran and the United States reportedly remained at loggerheads amid efforts to negotiate a permanent end to the Middle East conflict.

ON BAYSTREET

The TSX Venture Exchange withered 0.58 points to 975.29.

Eight of the 12 TSX subgroups were positive, with health-care surging 1.5%, while consumer staples and information technology each took on 0.9%.

The four laggards were weighed most by gold, down 1.6%, materials, flailing 1.4%, and consumer discretionary, off 0.6%.

ON WALLSTREET

The S&P 500 rose on Thursday as oil prices declined and traders digested more inflation data as well as a slew of fresh earnings reports.

The Dow Jones Industrials recovered 237.01 points to start Thursday at 54,007.28.

The much-broader index advanced 61.34 points to 7,809.84

The NASDAQ Composite leaped 254.35 points, or 1%, to 26,842.84, boosted by gains in Meta Platforms, Microsoft and Netflix.

Cisco Systems was a key laggard of the day, falling 9% after the company’s latest quarterly results failed to impress investors. Cerebras and Coherent also moved lower after their earnings updates, with the former plummeting 13% and the latter dropping 3%.

Prices for the 10-year Treasury popped, making yields plunge to 4.61% from Wednesday’s 4.69%. Treasury prices and yields move in opposite directions.

Oil prices weakened $3.08 to $80.19 U.S. a barrel.

Gold prices dwindled $42.40 to $4,425.10 U.S. an ounce.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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