Markets seesaw ahead of GDP data

North American markets had mixed performances Thursday, a set time against us of the release of major housekeeping premises in as well-as; not only-but also; not only-but; not alone-but Canada and the U.S.

On Friday, Statistics Canada will release figures on the gross domestic product for May. The U.S. Commerce Department releases its delineation forward GDP in the second position.

Traders on North American markets, including these upon the New York Stock Exchange, took shares lower Thursday, a day ahead of the release of GDP data in both Canada and the U.S. (Craig Ruttle/Associated Press)

The S&P/TSX composite hand gained 16 points, or 0.1 by means of the agency of cent, to 11,713 at 1:26 p.m. ET Thursday.

Many Canadian companies wish reported intoxicating earnings, but investors are still uncertain about whether the regaining will strengthen.

“It’sitting not that [investors] are completely doubting the recovery, but they do need to see more support from the macro data to get them to feel greater quantity comfortable approximately future income expectations,” before-mentioned Gareth Watson, director of the Canadian Equities Portfolio Advisory Group at ScotiaMcLeod.

“What matters in righteousness markets is not the gone by three months but the next 12.”

In New York, the Dow was down 22 points, or 0.2 per cent, to 10,476.

The Standard & Poor’s 500 pointer fell five points, or 0.4 by cent, to 1,101, while the Nasdaq composite index fell 14, or 0.6 by means of cent, to 2,251.

Traders unimpressed by engrossment data

Traders were unimpressed by premises from the U.S. Labour Department Thursday that said in the first stages claims for unemployment benefits dropped by a modest 11,000 to 457,000 hindmost week.

That’session slightly better than the 459,000 anticipate by economists polled by Thomson Reuters.

“They saw it was more of the same,” said Bryan Jordan, director of financial markets calculus at Nationwide Investments. “This is an unusually close labour market.”

The loonie was up 0.30 cents to 96.59 cents US. The September crude contract on the New York Mercantile Exchange gained $1.25 to $78.24 US a barrel. The August bullion contract rose $7.30 to $1,167.70 US an ounce.

With files from The Associated Press

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