Oct. 15, 2009 (Baystreet.ca) --

Bay Street stocks are slightly lower on Thursday morning, surrendering some of yesterday's notable gains. Weakness in the gold sector has dragged the market lower. In the first half-hour of trading the S&P TSX Composite index was down 31.38 points to 11,501.40. Gold has dropped as Royal Gold has declined 1.7%, Agnico-Eagle Mines is down 1.3% and Eldorado has lost 1.2%. In corporate news, Capital Gold Corp. said its full-year net income rose to $10.40 million or $0.05 per share from $6.36 million or $0.03 per share in the prior year period. Research In Motion, along with Vodafone, launched BlackBerry Storm2, the second generation of RIM's touch-screen smartphone, in seven European countries as well as South Africa. RIM stock is down 0.7%. Vasogen reported third-quarter net loss of $1.2 million or $0.05 per share, compared to a net loss of $2.6 million or $0.12 per share last year. On the economic front, Canadian manufacturing shipments fell 2.1% in August. A decline of 1.6% was forecast for August, compared to a revised increase of 5.2% in July. The Canadian dollar dipped 0.26 cents to 97.22 cents U.S. ON BAYSTREET All but two of the 14 TSX subgroups started the day lower. Gold sputtered 1.1%, while financials and materials lost 0.5% each. The two gainers were health-care stocks, ahead only 0.1% and energy stocks, eking out a 0.04% gain. The TSX Venture Exchange slipped 9.82 points to 1,326.88, while the Nasdaq Canada index lost 5.84 points to 730.17. ON WALLSTREET In New York, stocks slipped Thursday, one day after the Dow closed above 10,000, as investors mulled better-than-expected results from Goldman Sachs and Citigroup and opted to retreat. The Dow Jones Industrials skidded 9.90 points to 10,005.96, after finishing the previous session at around 10,015, its highest point in more than a year. The S&P 500 index dropped 2.30 points to 1,089.72. The Nasdaq composite index gave back 5.25 points to 2,166.98. Economic reports were also on investors' minds, as the government announced a key inflationary gauge showed slight signs of pressure. A separate report showed the number of people filing for first-time unemployment fell in the latest week, but slightly less than forecast. Wall Street rallied Wednesday on earnings optimism, following upbeat profit reports from Intel and JPMorgan Chase The surge lifted the Dow to its first close above 10,000 in a year. But crossing the barrier could also inspire traders to cash in their chips and prompt a selloff, said one expert. He said that it's hard to tell what type of impact that crossing Dow 10,000 will have on the markets. What's more telling, he added, is that "the momentum in the markets looks pretty strong," even if it does seem a bit "stretched." Goldman Sachs reported better-than-expected third-quarter earnings of $3.19 billion U.S., or $5.25 U.S. per share. Analysts had expected $4.24 U.S. per share, according to Thomson Reuters. Goldman also reported third-quarter revenue of $12.37 billion U.S. Shares fell 1%. Chief executive Lloyd Blankfein attributed the strong quarter to "improving conditions and evidence of stabilization, even growth, across a number of sectors." Citigroup, still reeling from the sharp pain of the credit crunch, reported a quarterly loss of 27 cents U.S. a share. Revenue topped $20.4 billion U.S. Shares fell 4% JPMorgan Chase reported upbeat results Wednesday, helping to trigger the market rally. In economic reports before the bell, the Consumer Price Index, a key inflation measure rose 0.2% in September, according to a consensus of economist opinion from Briefing.com. This is compared to the prior month, when the CPI rose 0.4%. The core CPI, which excludes volatile food and energy prices, is expected to have edged up 0.2% in September, slightly higher than the 0.1% forecast by Briefing.com. Core CPI gained 0.1% in August. The number of people filing for first-time unemployment fell to 514,000 last week, slightly better than the 520,000 expected by a consensus of economist opinion from Briefing.com. Jobless claims have now dropped five out of the previous six weeks. Treasury prices backtracked, raising the yields for the benchmark 10-year note to 3.47% from Wednesday's 3.41%. The price of a barrel of oil gained 27 cents to $75.45 U.S. Gold prices fell $10 to $1,054 U.S. an ounce.