TORONTO — Canada’s main stock index posted a modest loss Thursday, weighed down by the financial and utility sectors, while U.S. stock markets were mixed but essentially flat following the latest consumer inflation report in the U.S.
Headline inflation was higher than expected in December, hitting 3.4 per cent year-over-year compared with 3.1 per cent in November.
U.S. markets fell before slowly climbing back up to par throughout the afternoon.
The S&P/TSX composite index closed down 71.02 points at 20,918.40.
In New York, the Dow Jones industrial average was up 15.29 points at 37,711.02. The S&P 500 index was down 3.21 points at 4,780.24, while the Nasdaq composite was up 0.54 points at 14,970.18.
Despite the increase in headline inflation, there wasn’t a more pronounced selloff in stocks or increase in yields because core inflation was relatively flat, said Macan Nia, co-chief investment strategist at Manulife Investment…
