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S&P/TSX Composite Index Down 95 Points Mid-Morning With Most Sectors Lower

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The S&P/TSX Composite Index was down 95 points mid-morning Thursday with most sectors in the red.

The worst performer was base metals, down 1.3%, as prices of precious metals fell. Information technology and financials were both down 1.0%.

The energy sector, which was up 1.7% was boosted by higher crude prices, as tensions continue in the Middle East.

In economic news, further details continued to leak about the potential US-Canada trade deal. Bloomberg reported some relief with steel/aluminum tariffs halved to 25% from 50% and auto tariffs down to 15% from 25%.

In other news, prices of products manufactured in Canada, as measured by the Industrial Product Price Index, edged up 0.6% month over month in July and rose 12.4% year over year. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index, fell 2.2% month over month and increased 18.1% year over year, Statistics Canada reported today.

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