Aug 07, 2025 (Baystreet.ca via COMTEX) --
Canada's main stock index edged down on Thursday, with consumer discretionary declines outweighing gains from gold miners, as investors assessed a mixed bag of corporate earnings and weighed the impact of U.S. tariff implementation.
The TSX Composite Index eased off from record highs, docking 145.48 points by midday Thursday to 27,775.39.
The Canadian dollar handed back 0.05 cents at 72.73 cents U.S.
U.S. President Donald Trump's higher tariff rates kicked in, with Canada facing a 35% rate after failing to reach a trade agreement ahead of the deadline.
Western University's IVEY School of Business reported its Purchasing Managers Index registered at 55.8 in July, up from 53.3 in June but significantly below the 57.6 level in July 2024.
ON BAYSTREET
The TSX Venture Exchange ditched 2.43 points to 784.18.
All but three of the 12 TSX subgroups were in decline in as morning became afternoon Thursday, weighed most by consumer discretionary stocks, lower by 2%, while information technology stocks wavered 1.8%, and industrials sank 1%.
The two gainers were gold, shining 1.3% brighter, while materials were stronger by 0.9%.
Utilities were unchanged by noon hour EDT Thursday.
ON WALLSTREET
The NASDAQ Composite rose on Thursday, led by gains in Nvidia and Apple, as President Donald Trump unveiled new chip tariffs that include a broad exemption.
The Dow Jones Industrial Average tailed off 258.95 points to pause for lunch Thursday at 43,934.17. The blue-chip index was bogged down by a 2% decline in Caterpillar shares on the heels of the construction and engineering equipment maker warning of the effects of tariffs on its business.
The S&P 500 index dipped 1.23 points to 6,343.83
The NASDAQ held onto gains of 86.79 points to 20,256.22. Nvidia shares rose more than 1%, while Advanced Micro Devices climbed 6%.
Week to date, the S&P 500 has moved up 1.6%, and the NASDAQ has added almost 3%. The 30-stock Dow has advanced nearly 1%.
Apple also ticked up about 3% after the iPhone maker announced plans to spend an additional $100 billion on U.S. companies and suppliers over the next four years. That's on top of a $500-billion announcement Apple made in February.
Trump announced late Wednesday that there would be a 100% tariff on imported chips, but not for companies that are "building in the United States." Nvidia shares rose almost 2%, while Advanced Micro Devices climbed 5%.
Supporting sentiment, recent economic data, including weekly jobless claims, signaled the U.S. economy may still be in solid shape. This comes after July's weaker-than-expected jobs reading rattled the market last week.
Prices for 10-year Treasury were lower Thursday, raising yields to 4.24% from Wednesday's 4.23%. Treasury prices and yields move in opposite directions.
Oil prices sank 18 cents to $64.17 U.S. a barrel.
Gold prices surged $21.00 at $3,454.40 U.S. an ounce.
COMTEX_467859882/2559/2025-08-07T12:42:13
