TSX Suffers Rare Loss (for November)

Equity markets in Toronto saw the end of an 11-day winning streak at the closing bell Monday, after a report indicated the mood in China over a trade deal with the United States is “pessimistic” due to U.S. President Donald Trump’s reluctance to roll back tariffs.

The TSX Composite Index backpedaled 3.36 points from Friday’s all-time high, to finish Monday at 17,017.59

The Canadian dollar inched 0.09 cents higher to 75.71 cents U.S.

Gold led the winning subgroups, as Detour Gold cleared breakeven by $1.24, or 5.8%, to $22.63, while B2Gold gathered 15 cents, or 3.2%, to $4.78.

Among techs, Shopify ballooned $13.35, or 3.2%., to $426.54, while Enghouse climbed $1.08, or 2.8%, to $40.08.

Among consumer staples, Alimentation Couche-Tard jumped 50 cents, or 1.2%, to $41.81, while Empire Company added 36 cents, or 1%, to $34.85.

Health-care stocks continued in the doldrums, as Aurora Cannabis sank 59 cents, or 16.4%, to $3.00, while Aphria took it on the chin 63 cents, or 11.2%, to $5.02.

Among energy issues, Baytex shed 10 cents, or 6.1%, to $1.55, while Seven Generations Energy backtracked 47 cents, or 6.1%, to $7.28.

In consumer discretionary stocks, Sleep Country Canada Holdings snoozed 82 cents, or 4.1%, to $19.40.

ON BAYSTREET

The TSX Venture Exchange faded 3.66 points at 524.92

Seven of the 12 Toronto subgroups were positive, with gold surging 1.2%, information technology stronger by 0.8%, and consumer staples better by 0.6%.

The five laggards were weighed most by health-care, slipping 4.3%, energy, docking 1.9%, and consumer discretionary stocks, lower 0.2%.

ON WALLSTREET

Stocks posted fresh records on Monday before closing little changed as investors digested mixed signals around U.S.-China trade talks.

The Dow Jones Industrial Average recovered 31.33 points to 28,036.22, to yet another all-time record close. Disney was the best-performing Dow stock, rising 2%. Real estate and consumer staples both gained at least 0.6% to lead the S&P 500 higher.

The S&P 500 added 1.57 points to Friday’s record, at 3,122.03

The NASDAQ added 9.11 points to Friday’s all-time high to 8,549.94.

Over the past month, the Dow and S&P 500 are both up more than 4%. The NASDAQ, meanwhile, is up 5.8% in that time

In corporate news, Coty shares gained more than 2% after the company announced it took a 51% stake in Kylie Cosmetics, Kylie Jenner’s makeup company.

U.S.-China trade talks remain a key driver for U.S. equities, with last week’s records supported by rising optimism that a limited, phase-one trade deal will soon be struck.

Stock-index futures were trading higher early Monday after Chinese state media outlet Xinhua said Chinese Vice Premier Liu He, the country’s top trade negotiator, held a phone conversation with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Saturday, describing the discussions as "constructive."

The Trump administration is likely to issue Monday a 90-day extension of a license allowing U.S. companies to continue doing business with Chinese telecom giant Huawei Technologies Co.

Huawei was added to a federal list of restricted entities earlier the year, which are suspected as working against U.S. national security interests, and its status has been seen as a key issue in trade negotiations.

Meanwhile, China’s central bank on Monday lowered the interest rate on its regular reverse repurchase open market operations for the first time since October 2015 in an effort to boost market confidence and buoy slowing growth.

Prices for the 10-Year U.S. Treasury dipped, raising yields to 1.82% from Friday’s 1.81%. Treasury prices and yields move in opposite directions.

Oil prices dipped 87 cents to $56.85 U.S. a barrel.

Gold prices were better $3.30 to $1,471.80 U.S. an ounce.