Canada's main stock index edged higher at open on Monday as gains in financial shares helped more than offset losses in materials and energy sectors.
The S&P/TSX Composite Index moved up 16.89 points to begin Monday and the week at 15,523.20
The Canadian dollar erased 0.15 cents higher to 76.19 cents U.S.
The unlikely combination of freshwater fish and cannabis is producing outsized medical marijuana crops that Green Relief Inc aims to capitalize on, as the Canadian company plots a stock market listing and global expansion.
RBC raised the price target on Canadian Tire to $203.00 from $201.00. Canadian Tire ballooned 79 cents to $150.33.
RBC cut the rating on Norbord to outperform from top pick. Norbord shares lost 79 cents, or 2%, to $38.68.
Barclays raised the price target on Open Text to $64.00 from $63.00. Open Text shares nosed up four cents to $48.72.
ON BAYSTREET
The TSX Venture Exchange gained 3.96 points to 626.82
Eight of the 12 TSX subgroups were higher, as health-care muscled up 3.2%, while information technology clicked 0.7% higher, and consumer staples progressed 0.4%.
The four laggards were weighed most by gold, duller by 1%, materials, sliding 0.5%, and energy, 0.4% less energetic.
ON WALLSTREET
Stocks slipped on Monday as investors awaited the latest batch of corporate earnings releases.
The Dow Jones Industrial Average dipped 47.91 points to 25,015.98, as Chevron and Exxon Mobil led the decline.
The S&P 500 subtracted 2.51 points to 2,704.02, as the energy and utilities sectors underperfomed.
The NASDAQ Composite gained 33.32 points to 7,297.19
Alphabet and Gilead Sciences are scheduled to report earnings after the close Monday. Disney, General Motors, Viacom and Kellogg are all slated to release their results later this week.
Shares of Clorox rose more than 4% after the company posted a better-than-expected profit. Clorox also reiterated its guidance for 2019 earnings and revenue. Sysco and Alexion Pharmaceuticals also reported stronger-than-forecast earnings, sending Sysco’s shares up 4.2%, and Alexion’s ahead 1.3%
So far, more than 47% of S&P 500 companies have reported quarterly results. Of those companies, 68.5% have topped analyst expectations
Earnings grew by more than 20% in the first three quarters of 2018. So far, fourth-quarter earnings are up by 12.5% on a year-over-year basis.
Prices for the benchmark 10-year U.S. Treasury dropped sharply, raising yields to 2.73% from Friday’s 2.69%. Treasury prices and yields move in opposite directions.
Oil prices fell $1.60 to $53.66 U.S. a barrel.
Gold prices slipped $5.60 to $1,316.50 U.S. an ounce.
