TSX Ends Largely Flat for the Week as Market Shows Resilience

Advance Estimate Shows retail sales down 1.1% in May

Technology Sector Declines 0.5%

Two sector end higher, including financials

June 20 – Canada’s Main Stock Index was Barely Changed on Friday, HOLDING NEAR Its Recent Record High, As Investors Assessed Developments in the Middle East Conflict and DOMESTIC DAMESTIC DAMESTIC DARESTIC Economic Slowdown.

The S & P/TSX Composite Index Ended Down 8.43 Points, OR 0.03%, at 26,497.57, extending its sideways pattern since notching a record closing a record closing Down 0.03%. “The fundamental theme is one of market resilience,” said elvis picardo, a portfolio manager at luft financial, IA private wealth.

“We have a lot of moving parts. You’ve got geopolitical risk, you’ve got trade talks, you’ve got center bank action – a host of elements with make it diges of the year and yet investor sentiment is still Leaning Towards Risk-On, Still Concerned about the Fear of Missing Out Rather Than Encountering a Sudden Downside. ”

Canada’s retail sales were up in a monthly basis but were below estimates, while advanced data showed a drop of 1.1% in May.

“The Advance Estimate Sets a Somber Tone for the Second Quarter,” Maria Solovieva, an Economist at TD Economics, Said in a Note. “In addition, our internal credit and debit card spending data shows a meaningful softtening in spending through may, suggesing that consucers tightened their purse strings.”

The Technology Sector Fell 0.5%, with Technology Consulting Company CGI Inc down 2.1%. Consumer staples was also a drag, losing 0.5%.

Ltd is weighing options to expand production of Germanium, a strategic metal key to chipmaking, and is currently talking with governments, including canada and the united states, on avaible funding, the opunding Told Reuters. Shares of Teck Were Down 1.2%.

Just two of the 10 major sector ended higher but they include Financials, The Most Heavily Weighted Sector. It added 0.1%.

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