Canada's main stock index opened lower on Tuesday, dragged by mining shares as gold prices retreated on firmer U.S. dollar, offsetting gains in tech stocks.
The TSX went south 111.22 points to begin Tuesday at 33,665.28.
The Canadian dollar backpedaled 0.13 cents at 72.89 cents U.S.
Canada's largest banks are expected to report another quarter of strong earnings, with Bank of Nova Scotia to kick off the first-quarter earnings this morning before the bell.
Scotiabank shares captured eight cents in the first hour to $104.09.
In corporate news, Whitecap Resources reported quarterly results after the bell on Monday, beating analysts' estimates. Whitecap lost seven cents to $13.69.
ON BAYSTREET
The TSX Venture Exchange capsized 14.77 points, or 1.4%, to 1,036.25.
Still, seven of the 12 TSX subgroups were higher to start out, led by information technology and consumer discretionary stocks, each up 0.4%. while telecoms improved 0.3%.
Of the five laggards, gold faded 2.6%, while materials slid 1.8%, and consumer staples lost 0.4%.
ON WALLSTREET
The S&P 500 was relatively unchanged on Tuesday after a rough start to the final week of February’s trading.
The Dow Jones Industrial Average jumped 201.20 points to 49.005.26.
The much-broader index inched ahead 1.31 points to 6,839.06.
The NASDAQ gained 30.48 points to 22,665.28.
Shares of AMD jumped 5% after Meta announced a multiyear deal with the semiconductor company. The new partnership entails deploying up to six gigawatts of AMD’s graphics processing units for artificial intelligence data centers. Meta will also invest in AMD through a performance-based warrant for up to 160 million shares of AMD.
The move comes a week after Meta said it’s using millions of Nvidia’s chips in its data center buildout. Shares of the AI chip darling were 1% lower.
Major averages fell Monday on renewed fears of AI disruptions to various industries. President Donald Trump’s threat to hike global tariffs to 15% and tensions between the U.S. and Iran also kept traders on edge. A global 10% U.S. tariff took effect Tuesday.
Heading into Tuesday, traders will keep an eye on a key event hosted by artificial intelligence firm Anthropic, the company behind Claude.
Anthropic is expected to make new product announcements and demonstrate Claude’s latest features. Anticipation of the event — and the additional disruption it could bring — contributed to declines in the software space on Monday.
Prices for the 10-year Treasury gained ground, lowering yields to 4.04% from Monday’s 4.03%. Treasury prices and yields move in opposite directions.
Oil prices acquired 20 cents to $66.51 U.S. a barrel.
Gold prices dropped $74.70 to $5,150.90 U.S. an ounce.
Related Stories
