Equities in Canada’s largest market ended Tuesday ended negative, as gold and energy proved a weight around the collective neck of the markets.
The S&P/TSX Composite dropped 61.42 points to close Tuesday at 14,558.04
The Canadian dollar regained 0.16 cents at 75.71 cents U.S.
Gold plays dulled in price, most notably Eldorado Gold, sliding 18 cents or 3.4%, to $5.15, while Barrick Gold gave back 53 cents, or 2.2%, to $23.20.
Energy stocks suffered, amid all the uncertainty over whether a production freeze is the cards. EnCana took the biggest lumps, tumbling 55 cents, or 4.5%, to $11.75, while Crescent Point Energy fell 41 cents, or 2.4%, to $16.37.
In the materials sector, Teck Resources slumped 30 cents, or 1.2%, to $24.16, while First Quantum Minerals dipped 13 cents, or 1.2%, to $10.55.
On the other hand, tech stocks staged a mini-rally, as BlackBerry took on six cents to $10.41.
Among consumer staples, convenience store ace Alimentation Couche-Tard gained 41 cents to $64.80, while Loblaw Companies picked up 15 cents to $67.81.
Health-care issues also gained ground, as Valeant Pharmaceuticals jumped 42 cents, or 1.2%, to $34.67, also losses of 23 cents, or 3.5%, by Concordia International limited gains in the sector.
ON BAY STREET
The TSX Venture Exchange fell 11.31 points at 794.49
Seven of the 12 TSX subgroups remained positive by the close, with information technology 0.6% upward, while consumer staples and health-care each gained 0.3%.
The five laggards were weighed most by gold, off 2%, energy, 1.9% less energetic, and materials, down 1.5%
ON WALL STREET
A sharp fall in oil prices did not deter U.S. stock markets from climbing the charts Tuesday, investors relieved to have the first U.S. presidential debate between Hillary Clinton and Donald Trump behind them.
The Dow Jones Industrials hiked 128.54 points to 18,223.37, with Microsoft leading advancers and Disney the only decliner.
The S&P 500 gathered 13.83 points to 2,159.93, with consumer discretionary leading eight sectors higher and utilities lagging.
The NASDAQ Composite soared 48.22 points to 5,305.71
Also on market watchers' radars was Deutsche Bank, which saw its shares hit a fresh all-time low on Tuesday, weighing on European equities.
Deutsche's U.S.-listed shares plunged more than 7% Monday after German Chancellor Angela Merkel said the German government would not help the bank with its U.S. legal troubles.
Economically speaking, the Consumer Confidence Index hit 104.1 in September, according to figures released by the U.S. Conference Board Tuesday. Economists expected the Consumer Confidence Index to hit 99.0 in September, down from August's revised reading of 101.8, according to Thomson Reuters consensus estimate. The read was also the highest since the recession.
Also on the data front, the S&P CoreLogic Case-Shiller 20-City Composite index rose 5% year over year, slightly below the expected 5.1% increase. The September Markit Flash U.S. Services PMI was also released, showing expansion. Meanwhile, the Richmond Federal Reserve Manufacturing index for September showed a read of minus eight.
Many pundits gave a slight edge to Clinton Monday night, but admitted there is still a lot of campaigning left to do. The next debate is set for Sunday, Oct. 9.
Prices for the 10-year Treasury gained, lowering yields to 1.56% from Monday’s 1.58%. Treasury prices and yields move in opposite directions.
Oil prices dropped $1.43 to $44.50 U.S. a barrel
Gold prices faded $13.60 at $1,330.50 U.S. an ounce.
