Markets opened lower as commodities fell on a stronger U.S. dollar.
The Toronto Stock Exchange's benchmark index, the S&P/TSX composite, fell 66.73 points, or 0.57 per cent, to 11,585.96.
The Canadian dollar was down to 94.15 cents U.S. early Thursday, after closing at 94.83 cents U.S. on Wednesday.
Gold fell to $1,140.70 U.S. an ounce after closing at an all-time high of $1,141.20 U.S. Wednesday.
The price of oil was down to $79.18 U.S. a barrel from its previous close of $79.58 U.S..
Statistics Canada's index of leading economic indicators rose 0.7 per cent in October, the fourth month of gains. The figure was roughly in line with expectations and follows an increase of 1.2 per cent in September.
However, TNS Canadian Facts' annual holiday spending survey also released Thursday indicated most Canadians plan to spend less than they did last year, with only eight per cent planning to spend more. The forecast indicates spending levels for the looming holiday season will be the worst since 2005.
The value of Canada's wholesale trade rose a less-than-expected 0.2 per cent in September, following a revised decline of 1.5 per cent in August on weaker sales of automobile products, Statistics Canada also said Thursday. Economists had expected a one per cent gain in sales for September.
In the U.S., the Dow Jones industrial average fell 64.77 points, or 0.62 per cent, to 10,361.54 and the Nasdaq composite index fell 22.72 points, or 1.04 per cent, to 2,170.42 just after the bell.
The number of people in the U.S. applying for initial unemployment benefits was unchanged in the week ended Nov. 14 at 505,000 — roughly in line with expectations — the Labor Department said Thursday. Continuing jobless claims were down 39,000 for the week of Nov. 7, the ninth decline in a row, to 5.61 million down 39,000 from the previous week.
"Going forward, we expect a slight pickup in the initial claims data as workers who couldn't access benefits offices during the shortened week (due to the Veteran's Day holiday) attempt to get themselves registered," Ian Pollick, economics strategist at TD Securities.
Overseas markets were also lower. London's FTSE lost 35.30 points, or 0.66 per cent, to 5,306.83 at midday. Frankfurt's DAX fell 48.13 points, or 0.83 per cent, to 5,739.48, and the Paris CAC was down 36.81 points, or 0.96 per cent, to 3,791.35.
In Asia, Tokyo's Nikkei stock average closed down 127.33 points, or 1.32 per cent, to 9,549.47, and Hong Kong's Hang Seng index fell 197.17 points, or 0.86 per cent, to 22,643.16.
On Wednesday, the S&P/TSX added 22.69 points or 0.20 per cent to 11,652.69. The Dow lost 11.11 points or 0.11 per cent to 10,426.31, and the Nasdaq composite index closed at 2,193.14, down 10.64 points or 0.48 per cent.
