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Stocks Fall Back Midday

Equities in Canada's largest market fell back by Thursday noon hour ET, amid weakness in resource stocks.

The S&P/TSX staggered 27.24 points to greet midday at 16,756.55

The Canadian dollar sank 0.04 cents at 75.36 cents U.S.

In the metals sector, the stock worst off proved to be First Quantum, shellacked $1.01, or 8.7%, to $10.58. Gold got rocked, too, as Eldorado suffered a loss of 36 cents, or 3.3%, to $10.53.

Among energy issues, Baytex Energy slumped 11 cents, or 5%, to $2.11.

Utilities tried to lift up the index at the other end, as units of Brookfield Infrastructure Partners heated up $2.33, or 3.7%, to $65.90.

On the economic slate, Statistics Canada reported that non-farm payroll employees earned an average of $1,027 per week in July, up 0.5% from the previous month.

On a year-over-year basis, earnings improved 2.7%.

ON BAYSTREET

The TSX Venture Exchange faded 2.25 points to 576.13

Eight of the 12 Toronto subgroups faded into the red, materials taking the brunt of the damage, off 1.2%, energy down 1%, and gold failing 0.9%.

The four gainers were led by utilities, ahead 1.1%, while real-estate strengthened 0.4%, and industrials picked up 0.2%.

ON WALLSTREET

Stocks fell on Thursday as traders monitored the latest trade developments and assessed a whistleblower complaint against President Donald Trump that was released.

The Dow Jones Industrials tumbled 113.29 points to 26,857.42

The S&P 500 dipped 9.76 points to 2,975.39

The NASDAQ Composite fell 50.6 points to 8026.79

Chip stocks led the way lower. Micron Technology, which is scheduled to release its latest quarterly figures after the bell dropped nearly 2%. Advanced Micro Devices slid 1% alongside Nvidia.

Stocks hit their session lows after Bloomberg News reported, citing a source, that the U.S. is unlikely to extend a temporary waiver that allows U.S. companies to sell supplies to Huawei, a Chinese telecommunications giant.

The whistleblower said in the complaint that Trump received information from U.S. officials that the president used his office to solicit interference from a foreign country ahead of the 2020 election.

Investors will hear more about the complaint when the acting director of National Intelligence, Joseph Maguire, testifies before the House Intelligence Committee.

The complaint raises more questions about Trump's political future as the House of Representatives launched an impeachment inquiry against Trump.

Prices for the benchmark 10-year U.S. Treasury hiked, lowering yields to 1.69%, from Wednesday's 1.73%. Treasury prices and yields move in opposite directions

Oil prices sank 54 cents to $56.95 U.S. a barrel.

Gold prices picked up $2.80 to $1,515.10 U.S. an ounce.

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