Negative Start to Thursday

Canada's main stock index fell for a second straight session on Thursday, tracking weakness in oil and gold prices on worries over weakening demand in top consumer China.

The TSX Composite capsized 109.07 points to begin Thursday’s session at 19,848.89.

The Canadian dollar retreated 0.14 cents to 74.84 cents U.S.

Among stocks, TC Energy said that the weather-related issues that prompted the Calgary-based firm to halt deliveries this week through its Keystone oil pipeline have been resolved. TC shares began the session down 29 cents to $64.21.

ON BAYSTREET

The TSX Venture Exchange doffed 5.99 points, or 1%, to 584.31.

All but two of the 12 TSX subgroups fell, with gold trailing 2%, materials down 1.6%, and information technology off 1.3%.

The two gainers were industrials, up 0.6%, and consumer staples, eking up 0.03%.

ON WALLSTREET

Stocks fell Thursday as interest rates jumped with Federal Reserve officials signaling interest rate hikes to slow inflation are far from over.

The Dow Jones Industrials plummeted 244.94 points to 33,308.89

The S&P 500 slumped 40.31 points, or 1%, to 3,918.48

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The NASDAQ handed back 100.31 points to 11,083.35.

Shares of Whirlpool dipped $3.92, or 2.7%, to $143.65 Thursday after Goldman Sachs reinstated coverage at neutral. The Wall Street firm said it expects demand for appliances to moderate through 2023 as consumer spending normalizes and higher rates lead to reductions in home price appreciation and turnover.

Nvidia reported a mixed quarter after the bell on Wednesday, reporting a 51% decline year over year in its gaming segment’s sales as demand has slowed since a pandemic-era boom.

Initial jobless claims were 222,000 for the week ending Nov. 12, a drop of 4,000 from the prior week’s adjusted 226,000 claims.

U.S. housing starts in October dipped 4.2% from the prior month to a seasonally adjusted annual rate of 1.425 million. Still, that came in better than the 1.41 million units expected, according to Dow Jones consensus estimates.

Prices for the 10-year Treasury fell, raising yields to 3.78% from Wednesday’s 3.70%. Treasury prices and yields move in opposite directions.

Oil prices docked $1.94 to $83.65 U.S. a barrel.

Gold prices doffed $12.80 to $1,773.00 U.S. an ounce.