Negative Finish in Toronto

Health-care Takes Pounding

Equities in Toronto came out on the downside Monday, as weakness in health-care weighed on the entire market.

The S&P/TSX Composite Index dropped 57.4 points to close Monday at 15,459.19

The Canadian dollar lost 0.13 cents to 76.33 cents U.S.

Among health-care concerns, Canopy Growth Corporation slipped $6.51, or 10.6%, to $54.84, while Aurora Cannabis tumbled $1.53, or 11.8%, to $11.48.

Gold stocks were the worse for wear as well, as Barrick Gold dished off 11 cents to $17.18, while Goldcorp saw its shine come off 46 cents, or 3.2%, to $13.81.

Among other resource stocks, Agnico Eagle Mines stepped back 92 cents, or 1.9%, to $47.61.

Tech stocks led among gaining stocks, as Constellation Software chugged ahead $23.54, or 2.7%, to $909.78, while BlackBerry grew 20 cents, or 1.6%, to $12.42.

In the industrial sector, Bombardier accumulated nine cents, or 2.5%, to $3.73, while Magna International picked up 24 cents to $62.55.

In real-estate, Collier’s International improved 78 cents to $88.73.

On the economic calendar, Statistics Canada said wholesale sales edged down 0.1% to $63.6 billion in August. Sales were down in four of seven sub-sectors, representing 65% of total wholesale sales.


The TSX Venture Exchange fell 22 points, or 3.2%, to 660.16

Eight of the 12 subgroups were lower, as health-care plummeted 7.1%, while materials and gold each dipped 1.1%.

The four gainers were led north by information technology, up 2.9%, industrials, picking up 0.8%, and real-estate, up 0.1%.


The Dow Jones Industrial Average and S&P 500 closed lower on Monday as shares of big banks fell broadly. Worries about a deluge of corporate earnings reports coming this week and rising geopolitical tensions also dampened investor sentiment.

The 30-stock index finished negative 126.93 points to 25,317.41, led by losses in Goldman Sachs.

The S&P 500 docked 11.9 points to 2,755.88, as the financials sector dropped 2.1%.

The NASDAQ regrouped 33.09 points to 7,482.11, as Amazon rose 1.2% and Apple picked 0.5%.

Bank of America and Citigroup both fell more than 1.5% J.P. Morgan Chase lurched lower 1.2%, and Goldman Sachs traded 1.1 percent off.

The Shanghai Composite rose more than 4% to notch its best day since March 2, 2016. The sharp move higher comes after Chinese authorities pledged to support China's economy and offset the negative impact of U.S. tariffs. They made that pledge after reporting weaker-than-expected economic growth for the second quarter.

Chinese stocks are still down sharply this year despite Monday's jump. The Shanghai Composite has plummeted about 20% in 2018 and is down 21.4% over the past year.

Investors also pored through a slew of corporate earnings on Monday.

Halliburton and off-road vehicle maker Polaris Industries both reported better-than-expected earnings before the bell Monday.

Several other companies are scheduled to report earnings this week, including Dow members 3M, McDonald's, Caterpillar and United Technologies. Amazon and Alphabet are also set to report this week.

The current earnings season is off to a good start thus far. In all, 82% of the S&P 500 companies that have posted earnings have topped expectations.

Prices for the benchmark for the 10-year U.S. Treasury fell a mite, raising yields back to Friday’s 3.2%. Treasury prices and yields move in opposite directions.

Oil prices gained 13 cents at $69.25 U.S. a barrel.

Gold prices dropped $3.30 an ounce to $1,225.40