Markets in Toronto managed to hang onto gains Thursday, as their American cousins suffered from rising yields. Energy stocks propelled markets in this country higher.
The TSX Composite gained 57.2 points to close Thursday at 19,587.41.
The Canadian dollar lost 0.09 cents at 72.42 cents U.S.
Energy stocks led the positive charge, with Freehold Royalties climbing 51 cents, or 3.7%, to $14.50, while Suncor rose $1.60, or 3.7%, to $44.89.
In materials. First Quantum Minerals exploded $1.25, or 8%, to $16.84, while Stelco Holdings rumbled higher $4.68, or 12.5%, to $42.24.
In communications, Rogers jumped $1.76, or 3.2%, to $57.10, while Quebecor obtained 16 cents to $30.30.
Health-care stocks did not fare so well, however, as Tilray blundering 12 cents, or 4.9%, to $2.31, while Bausch Health Companies settled 46 cents, or 4.6%, or 4.6%, to $9.45.
In tech issues, Shopify sank $3.25, or 3.7%, to $83.43, while BlackBerry lost 19 cents, or 3.7%, to $4.97.
In real-estate, Dream Industrial REIT units retreated 28 cents, or 2.2%, to $12.09, while Tricon Capital slid 20 cents, or 2%, to $9.81.
The TSX Venture Exchange regained 4.08 points to 518.13.
The 12 TSX subgroups were divided evenly, with energy surging 1.6%, while materials and communications, up 0.9% each.
The half-dozen laggards were weighed most by health-care, sliding 2.8%, while information technology and real-estate each gave back 0.8%.
The S&P 500 fell Thursday, ending an eight-day winning streak, as a sharp jump in yields rattled investors.
The Dow Jones Industrials dwindled 220.33 points to 33,891.94.
The much-broader index sank 35.43 points to 4,347.35.
The NASDAQ swooned 128.97 points to 13,521.45.
Stocks hit session lows after Federal Reserve Chair Jerome Powell indicated more work may need to be done to bring down inflation, although the recent slowdown in pace has been an encouraging sign for policymakers.
Disney rose 6.9% a day after reporting better-than-expected profit and expanding its cost-cutting plan, while Arm dipped 5.2% following its first quarterly report as a public company. MGM Resorts slipped 1.1% even after posting strong results and a new share buyback program.
The culmination of third-quarter earnings season continues after the bell with reports from Wynn Resorts, Illumina and Unity Software.
Prices for the 10-year Treasury fell back, raising yields to 4.64% from Wednesday’s 4.52%. Treasury prices and yields move in opposite directions.
Oil prices recovered 21 cents to $75.54 U.S. a barrel.
Gold prices gained $5.20 to $1,966.40.