Toronto, Wall Street lower amid U.S. durable goods data, long weekend
TORONTO - North American markets opened lower after better-than-expected durable goods data for April and ahead of a holiday weekend in the U.S.
The S&P/TSX composite index fell 33.62 points to 12,624.47.
On Wall Street, the Dow Jones industrials average dropped 39.55 points to 15,254.95, the Nasdaq lost 16.78 points to 3,442.64, while the S&P 500 dipped 8.15 points to 1,642.36.
The Canadian dollar was also down 0.38 of a cent to 96.76 cents US.
The U.S. Commerce Department reported durable goods orders for April rose 3.3 per cent after a 5.9 per cent decline in March. Analysts had predicted a jump of only 1.5 per cent. The department says the figure was buoyed by more demand for military and civilian aircraft and an increase in business investment.
The commodities market continued see modest declines. The July crude contract was down 76 cents to US$93.49 a barrel, while June gold bullion lost $5.50 to US$1,386.30 an ounce. July copper was down a penny US$3.29 a pound.