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TSX Above Breakeven

Sep 13, 2017 (Baystreet.ca via COMTEX) --

Stocks in Canada's largest market fought their way slightly higher midday Wednesday, as gains in energy issues overcame losses in the health and materials sectors.

The S&P/TSX Composite Index regained 6.8 points to greet noon at 15,150.21

The Canadian dollar slipped 0.12 cents to 81.98 cents U.S.

Among health-care firms, Aphria Inc. dropped 12 cents to $6.26.

Among miners, Eldorado Gold shares jumped 50 cents, or 20.8%, to $2.91.

Kinder Morgan shares took on five cents to $17.46

Canadian National Railway shares ditched 91 cents to $98.75.

Cascades shares lost 22 cents, or 1.4%, to $15.33.

ON BAYSTREET

The TSX Venture Exchange faltered 1.54 points to 773.66

Eight of the 12 TSX subgroups were lower approaching midday, as health-care scaled back 1.3%, while materials lost 1.2%, and gold gave up 0.9% of its shine.

The four gainers were led by energy, gushing 1.9%, while financials and consumer staples improved 0.2% each.

ON WALLSTREET

U.S. stocks traded mostly flat on Wednesday as a decline in tech stocks capped gains on the major indexes.

The Dow Jones Industrials faded 10.32 points to 22,108.54, with Apple as the biggest loser in the index.

The S&P 500 slid 2.69 points from Tuesday's record high to 2,493.79. Technology stocks were among the worst performers, falling 0.3 percent after closing at a record high on Tuesday.

The NASDAQ dropped 13.92 points to 6,440.36, as shares of Apple dropped 1.2%.

Cracker Barrel Old Country Store, Lakeland Industries and United Natural Foods Inc. are among the companies reporting earnings Wednesday.

In economic news, the U.S. Producer Price Index -- a measurement of wholesale inflation -- rose 0.2% in August, below the expected 0.3% increase, among other major data set for release Wednesday.

President Donald Trump, meanwhile, urged Congress to move forward with tax reform.

Tax reform hopes have been one of the main catalysts for the stock market since Trump's election. In that period, the S&P 500's market value has increased by more than $2 trillion.

But tax reform expectations have decreased since the election, as the administration has been bogged down by in-party fighting and a failed attempt at overhauling health care, among other factors.

Prices for the benchmark 10-year Treasury note lost a bit of ground, raising yields to 2.18% from Tuesday's 2.17%. Treasury prices and yields move in opposite directions.

Oil prices gained 79 cents to $49.02

Gold prices wilted seven dollars to $1,325.70 U.S. an ounce.

********************************************************************** As of Saturday, 09-09-2017 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated a DOWNTREND on 05-15-2012 for LAKE @ $8.79. For more info

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