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S&P/TSX composite down as shares of Shopify tumble, U.S. stock markets mixed

Written by on May 8, 2024

TORONTO — Canada’s main stock index was down more than 100 points as shares of tech heavyweight Shopify Inc. dropped nearly 20 per cent after it reported a loss in its latest quarter and forecast slower revenue growth.

The S&P/TSX composite index was down 130.23 points at 22,160.39.

In New York, the Dow Jones industrial average was up 69.93 points at 38,954.19. The S&P 500 index was down 4.40 points at 5,183.30, while the Nasdaq composite was down 41.51 points at 16,291.05.

The Canadian dollar traded for 72.84 cents US compared with 72.97 cents US on Tuesday.

The June crude oil contract was up 33 cents at US$78.71 per barrel and the June natural gas contract was up less than a penny at US$2.21 per mmBTU.

The June gold contract was down 80 cents at US$2,323.40 an ounce and the July copper contract was down seven cents at US$4.54 a pound.

This report by The Canadian Press was first published May 8, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD) 

The Canadian Press