By Gavin Adamson

(May 4 – 17:30 ET) It was a light trading day ending mostly on a down note, as investors continued to heed inflation harbingers for the U.S. economy.

The TSE 300 composite index was an exception, jumping by 122.79 points to 9,414.10. Nortel added C$3.50 to $82, while BCE found a 25¢, to $41.25. Some of the financials edged forward with select oil and gas stocks.

The CDNX was helped by a 1.6% advance in its oil & gas sub-index as well, although thanks to tech sell-offs the index still slipped by 3.64 points to 3,515.24.

In the U.S., advances were thwarted by continued inflation jitters and mounting speculation about a 50 basis-point rate hike by the U.S. Federal Reserve in two weeks.

The Dow Jones industrial average dropped 67 points to 10,413, with retailers like Wal-Mart and Home Depot leading the way. DuPont and Exxon floated the index on the upside.

Investors on the NASDAQ shied away from the techs as well, although some biotechnology stocks pushed the index up 13 points to 3,720.