TSX Hit Hard Thursday

(MENAFN- Baystreet.ca) TSX Hit Hard Thursday
Baytex, Rogers Bruised

Equities in Canada's largest centre suffered triple-digit losses Thursday, mostly as energy dwindled in strength.
The TSX remained in the red 153.61 points to conclude Thursday at 19,774.08.
The Canadian dollar weakened 0.26 cents to 73.33 cents U.S.
Energy was the main culprit among losing groups, with Baytex Energy sliding 19 cents, or 4.1%, to $4.50, while Advantage Oil skidded 29 cents, or 3.7%, to $7.49.
In communications, Rogers lost $1.95, or 3%, to $62.27, while TELUS Corp. dished off 41 cents, or 1.5%, to $26.34.
In gold stocks, Equinox Gold lost 35 cents, or 5.5%, to $6.00, while IAMGOLD fell 22 cents, or 5.8%, to $3.60.
Tech stocks were on the way upward, as Dye & Durham grabbed 99 cents, or 6.6%, to $16.05, while Celestica progressed 62 cents, or 4.1%, to $15.83.
Industrials were also stronger, especially Air Canada, up 42 cents, or 2%, to $21.76, while TFI International tacked on $2.68, or 1.8%, to $146.64.
In consumer discretionary stocks, MTY Food Group strode forward 99 cents, or 1.7%, to $58.08, while Restaurant Brands International picked up $1.09, or 1.1%, to $98.72.
On the economic calendar, Statistics Canada says employees receiving pay or benefits from their employer-measured as "payroll employees" -- was little changed in March (-9,900).
The TSX Venture Exchange lost 3.43 points to 602.64.
All but three of the TSX subgroups were lower by the closing bell, with energy collapsing 2%, communications and gold folding 1.7% each.
The three gainers were information technology, up 0.8%, while industrials took on 0.5%, and consumer discretionary stocks were up 0.2%.
The S&P 500 and NASDAQ jumped Thursday as investors cheered the latest quarterly results from Nvidia, and companies connected to artificial intelligence. Those moves also came as U.S. debt ceiling talks appeared to progress.
The Dow Jones Industrials came off their lows of the day, battling to within 35.27 points of breakeven to 32,764.65.
The S&P 500 gained 36.04 points to 4,140.67.
The NASDAQ popped 213.93 points, or 1.7%, to 12,698.09.
Nvidia shares surged 26% after the company posted stronger-than-expected revenue guidance, and reported beats on the top and bottom lines in the recent quarter. Exploding demand for Nvidia chips used in artificial intelligence underpinned the quarterly beat.
Several analysts covering Nvidia hiked their price targets on the stock following the results. Nvidia's surge brought the chipmaker within striking distance of a $1 trillion market capitalization.
Other semiconductor stocks followed Nvidia's lead, including Advanced Micro Devices and Taiwan Semiconductor, which rose 10% and 12%, respectively.
Prices for the 10-year Treasury lost ground, hiking yields to 3.82% from Wednesday's 3.74%. Treasury prices and yields move in opposite directions.
Oil prices ducked $2.39 to $71.95 U.S. a barrel.
Gold prices were down $24.40 to $1,940.20 U.S. an ounce.



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