Equities in Canada’s biggest market stumbled around Monday, as resource issues fell, more than countering gains in the tech sector.
The S&P/TSX Composite Index fell 54.44 points to end Monday at 15,128.69
The Canadian dollar added 0.21 cents to 79.95 cents U.S.
Natural resources shares tumbled as gold miners fell, including Barrick Gold, which declined $1.00, or 4.9%, to $19.29. Kinross Gold lost 13 cents, or 2.5%, to $5.17.
Shares of potash producers also declined, with Potash Corp falling 14 cents to $22.42, while Agrium was down 56 cents at $124.86.
In the industrial sector, Canadian National Railways slid $1.23, or 1.2%, to $101.63, while rival Canadian Pacific Railways dipped $3.59, or 1.8%, to $199.69.
Tech stocks provided one of the few bright spots Monday, with BlackBerry up five cents to $12.62.
In health-care, Canopy Growth acquired 31 cents, or 3.8%, to $8.58.
On matters economic, Statistics Canada reported wholesale trade rose 0.9% to a record-high $61.6 billion in May. Sales were up in six of the seven sub-sectors, representing 80% of total wholesale sales.
The agency adds that the miscellaneous and motor vehicle and parts sub-sectors contributed the most to the gains.
ON BAYSTREET
The TSX Venture Exchange swooned 0.26 points to 760.69.
All but two of the 12 TSX subgroups slumped on the day, primarily gold, off 2.3%, materials, surrendering 1.4%, and industrials, weaker by 0.7%.
The two gainers were information technology, up 1.4%, and health-care, haler on the day 0.5%.
ON WALLSTREET
U.S. equities closed mostly lower Monday as Wall Street geared up for a major week of earnings and Federal Reserve news.
The Dow Jones Industrials dropped 66.9 points to 21,513.17. Johnson & Johnson contributed the most losses on the 30-stock index.
The S&P 500 lost 2.63 points to 2,469.91, with utilities and telecommunications leading decliners.
The NASDAQ gained 23.05 to 6,410.81, and notching intraday and closing records. The tech-heavy index is up nearly 20% year to date.
Approximately 180 S&P 500 components are scheduled to report, including tech giants Facebook, Amazon and Google-parent Alphabet.
Earnings season has gotten off to a strong start. As of Friday, experts say, 73% of S&P 500 companies that had reported beat earnings estimates and 77% topped sales estimates
Investors had high hopes for this earnings season, with experts’ earnings growth forecast at 6.2% entering the season.
In economic news, the IHS Markit Flash US Composite Purchasing Managers Index hit its highest level in six months.
Prices for the benchmark 10-year Treasury note sagged Monday, lifting yields to 2.26% from Friday’s 2.24%. Treasury prices and yields move in opposite directions.
Oil prices gained 61 cents to $46.38 U.S. a barrel
Gold prices inched up 50 cents to $1,255.40 U.S. an ounce.
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