After opening modestly higher, reacting to data showing a drop in unemployment and some positive earnings reports, the Canadian market pared some gains subsequently on Friday morning.
The mood remains cautious after the splendid rally in the previous session. Investors are looking ahead to some clear signals on the U.S. election results front.
The benchmark S&P/TSX Composite Index, which advanced to 16,378.55 in early trades, dropped to a low of 16,262.31 subsequently and was down 17.07 points or 0.1% at 16,281.10 about half an hour before noon.
Healthcare stocks are up sharply. The Capped Healthcare Index is up as much as 9.1%
Telecom and utilities stocks are finding some support, while industrial, energy, materials, financial and information technology stocks are mostly subdued.
Cannabis stocks are surging higher with investors betting on hopes Democrat Joe Biden, if he forms the government in the U.S., will legalize recreational consumption of marijuana. Aurora Cannabis Inc…
