TSX Snaps 6-day Win Streak, Barely -- Canadian Commentary

(RTTNews) - Canadian stocks were little changed Friday, as traders stayed on the sidelines ahead of the Christmas and Boxing Day break.

Financial stocks trimmed their strong recent gains, while a rally in gold stocks revealed some anxiety about the U.S. and Canadian economies.

The S&P/TSX Composite Index was down 7 points, or 0.05 percent, to 15,328, snapping a 6-day win streak marked by miniscule advances.

Energy stocks were weak today, as February oil ended up 7 cents, or 0.1%, at $53.02/bbl.

Baker Hughes reported the number of active U.S. rigs drilling for oil climbed by 13 to 523 rigs this week, as companies look to take advantage of a yearly high in oil prices.

The total active U.S. rig count, which includes oil and natural-gas rigs, also rose by 16 to 653.

In economic news, Canada's real gross domestic product was down 0.3% in October. Widespread decreases in manufacturing output and lower oil and gas extraction were the major contributors to the decline.

GDP had been increasing for four consecutive months.