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Canada’s main stock index declined slightly Thursday in a slow day for markets as investors awaited U.S. employment figures Friday.
The S&P/TSX composite index fell 6.46 points to 15,621.47.
The energy sector led the drop, with stocks losing an average of nearly 1.5 per cent of their worth.
“Energy would be a combination of oil and natural gas,” said Anish Chopra, a managing director with Portfolio Management Corp. in Toronto.
While the price of oil rose, natural gas continued to fall. The June crude contract gained 50 cents to US$68.43 per barrel and the June natural gas contract fell roughly three cents to about US$2.73 per mmBTU.
“It’s a very difficult natural gas environment right now given where the price is,” he said.
In New York, markets also made small moves. The Dow Jones industrial average gained 5.17 points to 23,930.15. Meanwhile, the S&P 500 index declined 5.94 points to 2,629.73 and the Nasdaq composite index retreated 12.75 points to 7,088.15.
Investors are likely digesting news from the U.S. Federal Reserve Wednesday on the path of interest rate increases and also taking a wait-and-see approach ahead of the United States Department of Labour release of employment statistics Friday, said Chopra.
It’s another important economic data point, he said, which investors can use to gauge the strength of the U.S. economy.
The Canadian dollar was trading at 77.75 cents US, down 0.06 of a U.S. cent.
The June gold contract rose US$7.10 to US$1,312.70 an ounce and the July copper contract advanced about one cent to US$3.08 a pound.
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