Equities in Canada’s largest market moved upward, the opposite of the direction taken by their American cousins, as discretionary and resource stocks did their best to provide lift.
The TSX Composite Index took on 20.52 points to begin Tuesday, the month of October and the final calendar quarter at 16,679.15
The Canadian dollar dipped 0.16 cents at 75.37 cents U.S.
A U.S. judge on Monday dismissed a lawsuit in which Comerica Inc sought millions of dollars from Bombardier after the Canadian aircraft maker could not find buyers for four planes whose leases had expired.
Bombardier gathered a penny to $1.80.
Lithium Americas on Monday boosted its budget and production forecast for Argentina's Cauchari-Olaroz lithium brine project, a bullish move linked to the electric vehicle revolution.
Lithium shares advanced five cents, or 1.2%, to $4.11.
National Bank of Canada raised the target price on Sun Life Financial to $63.00 from $59.00. Sun Life gained six cents to $59.30
National Bank of Canada resumed coverage on Marathon Gold with outperform rating and $1.90 target price. Marathon shares picked up four cents, or 3.1%, to $1.35.
On the economic front, Statistics Canada says this country’s economy was essentially unchanged in July as a decline in goods-producing industries was offset by an increase in services-producing industries,
Meanwhile, the seasonally-adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index rose back above the 50.0 no-change mark in September, posting 51.0 from 49.1 in August. The rate of improvement in the health of the sector this signaled was modest, but the most marked in seven months.
ON BAYSTREET
The TSX Venture Exchange eked up 0.05 points to start Tuesday’s trading at 558.73
Seven of the 12 Toronto subgroups picked up ground in the first hour. Consumer discretionary gained 0.7%, materials and energy each improved 0.6%.
The five laggards were weighed heavily on by health-care, down 1.8%, while real-estate lost 1%, and utilities, off 0.3%.
ON WALLSTREET
Stocks gave back initial gains on Tuesday, the first trading day of the fourth quarter, as disappointing manufacturing data stoked worries over the U.S. economy.
The Dow Jones Industrials dumped 134.88 points to 26,781.95
The S&P 500 slumped 11.77 points to 2,964.97
The NASDAQ Composite subtracted 8.44 points to 7,990.90
Investors entered the fourth quarter with the major averages struggling to reach record highs set earlier in the year. The Dow and S&P 500 were more than 1% from their all-time highs following several failed attempts at to break them. The NASDAQ is about 4% below its record.
The Institute for Supply Management said U.S. manufacturing activity contracted to its worst level since June 2009.
Shares of manufacturers such as Honeywell, 3M and Eaton rolled over on the data release, trading at least 1% lower.
U.S. and Chinese negotiators are expected to meet next week in Washington to discuss a potential trade deal between the world’s largest economies.
Prices for the benchmark 10-year U.S. Treasury were slightly higher, lowering yields to 1.65% from Monday’s 1.67%. Treasury prices and yields move in opposite directions.
Oil prices moved up 18 cents to $54.25 U.S. a barrel.
Gold prices regained $7.60 to $1,480.50 U.S. an ounce.
