Stocks in Canada’s largest market backtracked at the opening of trade on Monday, as gold and energy issues faded
The S&P/TSX Composite Index faded 10.91 points to open Monday and the week at 15,459.19
The Canadian dollar lost 0.17 cents to 76.28 cents U.S.
Bombardier has sued the aircraft unit of Japan's Mitsubishi Heavy Industries, saying former Bombardier employees passed on trade secrets to help Mitsubishi's oft-delayed regional jet project.
Bombardier retreated a penny to $3.63.
Nutrien, whose attempt to sell its stake in Chilean lithium miner SQM to China's Tianqi has been stalled by a disagreement about competitive risks, vowed to "protect its interests" in an interview with a Chilean newspaper published on Sunday.
Nutrien shares dropped 97 cents, or 1.3%, to $72.25.
CIBC raised the price target on Constellation Software to $1,350 from $1,300. Constellation shares galloped $9.31, or 1.1%, to $895.55.
CIBC raised the rating on Corus Entertainment to outperform from neutral. Corus moved up 13 cents, or 2.7%, to $5.01.
CIBC raised the rating on Stantec Inc. to outperform from neutral. Stantec shares jumped $1.53, or 4.7%, to $34.39.
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.
ON BAYSTREET
The TSX Venture Exchange fell 1.46 points to 680.70
The 12 subgroups were evenly divided, as health-care acquired 1%, while information technology gained 0.6%, and real-estate advanced 0.4%.
The half-dozen laggards were weighed most by gold, down 1.1%, while materials melted 0.7%, and energy wilted 0.5%.
ON WALLSTREET
U.S. stocks fell on Monday, giving up earlier gains, as bank shares and Netflix traded lower to kick off the week.
The Dow Jones Industrials trashed 107.45 points to 25,336.89, led by declines in United Technologies and Procter & Gamble.
The S&P 500 docked 12.13 points to 2,755.65
The NASDAQ lost 14.27 points to 7,434.76
Wall Street is trying to rebound from steep losses this month. The major indexes are all down at least 3.8% through Friday's close amid fears of rising interest rates and a slowdown in the global economy.
Shares of Jacobs Engineering rose 6.7%, while Caterpillar tacked on 0.6%, and Advanced Micro Devices climbed 4.4%. These companies have significant exposure to the Chinese market, so they benefit from strong economic growth there.
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 gained a bit, lowering yields to 3.19% from Friday’s 3.2%. Treasury prices and yields move in opposite directions.
Oil prices slid 76 cents at $68.36 U.S. a barrel.
Gold prices dropped $3.70 an ounce to $1,225
