Markets had another of those up-and-down days Monday, with the ride ending in the red.
The S&P/TSX Composite gave up 36.35 points to finish Monday at 21,235.50
The Canadian dollar docked half a cent at 78.95 cents U.S.
Industrials took the greatest wounds, with WSP Global being stung $6.07, or 3.6%, to $162.82, while Ballard Power Systems shed 60 cents, or 5.3%, to $11.75.
Among tech issues, Quarterhill Corp. ditched a dime, or 4.1%, to $2.32, while Celestica lost 50 cents, or 3.2%, to $15.01.
In consumer discretionary stocks, Sleep Country Canada dozed $1.09, or 3.1%, to $34.45, while Dollarama slumped $1.17, or 1.8%, to $65.73.
Gold and materials concerns tried to step forward, as Alamos Gold jumped 51 cents, or 6%, to $8.97, while Iamgold captured 17 cents, or 5.2%, to $3.41.
Endeavour Silver leaped 31 cents, or 7%, to $4.73, while Fortuna Silver Mines took on 32 cents, or 7.8%, to $4.45.
In health-care, Chartwell Retirement Residences gained 27 cents, or 2.2%, to $12.54, while Sienna Senior Living progressed 31 cents, or 2%, to $15.54.
Ottawa Mayor Jim Watson on Sunday declared a state of emergency to help deal with an unprecedented 10-day occupation by protesting truckers which has shut down much of the core of the nation’s capital.
ON BAYSTREET
The TSX Venture Exchange was in the green 4.18 points to 858.65.
Seven of the 12 TSX subgroups were in the red on the day, with information technology and industrials each down 1%, and consumer discretionary stocks off 0.5%.
Gold led the five subgroups higher, surging 2.3%, while materials marched 1.4%, and health-care issues were haler 0.4%.
ON WALLSTREET
Stocks slipped on Monday to start the week, as traders weighed the latest quarterly earnings reports and awaited key U.S. inflation data.
The Dow Jones Industrials nicked higher 1.39 points to close Monday at 35,091.13.
The S&P 500 subtracted 16.66 points to 4,483.67
The NASDAQ dropped 82.34 points to 14,015.67
Quarterly results were again a source of volatility for stocks on Monday. Tyson Foods gained more than 12% after beating earnings expectations, while medical device stock Zimmer Biomet fell 9% after its report.
Meanwhile, shares of Facebook-parent Meta fell more than 5%, continuing a post-earnings slide. The stock has now dropped 30% since the company’s quarterly report last Wednesday. And shares of Netflix, still struggling after the company issued weak guidance in January, fell another nearly on Monday after investment firm Needham said the company’s current strategy could not win the streaming wars.
So far 56% of S&P 500 companies have posted quarterly earnings, with 77% beating earnings estimates and 76% topping revenue expectations, according to FactSet. However, there have been some disappointing results from high profile company, including Facebook-parent Meta, that have sparked major pullbacks for some stocks.
There are more than 70 S&P 500 companies set to post results this week. Three Dow components will provide quarterly updates, including Disney and Coca-Cola. Amgen, Take-Two Interactive and On Semiconductor are among the names that will report earnings Monday.
Elsewhere, shares of Spirit Airlines jumped 17% after Frontier Airlines announced a deal to merge with its low-cost competitor. The news appeared to boost sentiment among airlines generally, with shares of United rising more than 3%.
Peloton shares surged nearly 21% on reports that Amazon and Nike are lining up as possible suitors for the interactive fitness equipment maker. Shares of Snowflake jumped more than 6% after an upgrade from Morgan Stanley.
Prices for 10-year Treasurys gained slightly, lowering yields to Friday’s 1.92%. Treasury prices and yields move in opposite directions.
Oil prices toppled 77 cents to $91.54 U.S. a barrel.
Gold prices were up $14.40 to $1,822.20 U.S. an ounce.
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