CANADA STOCKS-TSX retreats as materials and tech lead decline

By Ragini Mathur

Oct 9 (Reuters) - Canada's main stock index fell on Thursday, with metal miners and technology stocks surrendering recent gains, as investor focus turned towards Friday's crucial domestic employment report for insights into the country's economic health.

Toronto's S&P/TSX composite index .GSPTSE was down 0.4% at 30,387.35 points, erasing the modest gains it had achieved at the market open.

The decline was broad-based, with 10 of the index's 13 sectors trading in negative territory.

The energy sector .SPTTEN bucked the downward trend, advancing 1.2%, after experiencing a slight 0.1% dip in the previous session.

Similarly, healthcare stocks .GSPTTHC climbed 1.2%, bolstered by cannabis company Curaleaf Holdings CURA.TO, which surged 4.2%, after receiving a "buy" rating from Canaccord Genuity analysts who initiated coverage of the stock.

However, the materials sector .GSPTTMT declined 0.7% as gold prices eased, though they remained above the $4,000 threshold reached during Wednesday's trading. GOL/

Information and technology stocks .SPTTTK dropped 0.5% after gaining about 3% in the previous session.

The TSX has recently notched several all-time highs, riding the momentum of gold's ascent — a rally fueled by heightened geopolitical uncertainties, economic concerns, and persistent expectations for U.S. interest rate cuts.

Market attention now pivots to Friday's Canadian employment report, which will provide crucial insights into the country's economic health and likely influence the Bank of Canada's upcoming monetary policy decision.

"Generally, there's positive sentiment around economic conditions," said Josh Sheluk, portfolio manager at Verecan Capital Management, adding that while the economy is perceived to be slowing, it is not seen as weakening or contracting outright.

"However, in the employment picture, what we've observed over recent months, perhaps even longer, is a gradual softening, and markets will be closely watching whether we see some stabilization in those numbers".

Meanwhile, south of the border, U.S. Federal Reserve Chair Jerome Powell offered no fresh policy signals in his latest comments, leaving investors to rely on existing data to guide market sentiment.