Jan 09, 2025 (Baystreet.ca via COMTEX) --
Canada's main stock index deducted some points by noon EST on Thursday in thin trade, due to losses in communication and utility shares, while investors awaited monthly jobs data from Canada and the U.S. for clues on future interest rates.
The TSX lurched lower 16.2 points as morning became afternoon Thursday to 25,035.48.
The Canadian dollar dipped 0.11 cents at 69.44 cents U.S.
All eyes will be on U.S. non-farm payrolls data, due Friday, as it is a key indicator for markets to gauge the inflation direction and policy rate path of the Federal Reserve.
The Fed signaled a more cautious pace of rate cuts at its last monetary policy meeting, and traders now expect the first trim this year in either May or June,
Back home, domestic employment figures, also due on Friday, will set the tone for policy easing by the Bank of Canada.
In corporate news, Canadian Natural Resources projected increased production for 2025, as it bets on higher demand amid tight oil supplies. Natural Resources dished off a dime to $46.89.
Elsewhere, K92 Mining shares rose 23 cents, or 2.3%, to $10.26.
ON BAYSTREET
The TSX Venture Exchange gained 4.41 points to 614.54.
All but three of the 12 TSX subgroups were lower by noon, with communications bowing 0.9%, utilities off 0.5%, and industrials sliding 0.4%.
The three laggards proved to be materials, better by 1.3%, gold, brighter 0.9%, and financials, inching up 0.02%.
ON WALLSTREET
U.S. markets are closed Thursday in memory of former President Jimmy Carter.
COMTEX_461709760/2559/2025-01-09T12:27:20
