Equities in Canada’s largest centre started off the week horribly, but battled back gallantly in the afternoon to come a mite closer to breakeven before the final bell, powered mostly by tech stocks.
The TSX Composite Index battled back from daily lows, but still finished in the red 174.49 points to conclude Monday at 21,011.89.
The Canadian dollar lost 0.06 cents to 78.58 cents U.S.
Energy stocks leaned most heavily on the index, with Crescent Point Energy falling 42 cents, or 4.6%, to $8.52, while Cenovus Energy dwindled $1.01, or 4.6%, to $20.95.
In the gold patch, Yamana Gold fell 38 cents, or 5%, to $7.15, while New Gold slid 11 cents, or 5.3%, to $1.96.
In materials stocks, Capstone Mining docked 35 cents or 5.9%, to $5.54, while Endeavour Silver lost 41 cents, or 7.3%, to $5.23.
Tech issues did their best to balance things out, with Softchoice gaining $1.25, or 5.4%, to $24.63, while Converge Technology Solutions prospered 53 cents, or 6.2%, to $9.06.
In consumer stocks, BRP gathered $3.11, or 3.1%, to $104.99, while Spin Master hiked $3.47, or 7.8%, to $48.07.
Premium Brands Holdings grabbed $3.68, or 3.5%, to $108.77, while George Weston jumped $3.19, or 2$, to $159.36.
ON BAYSTREET
The TSX Venture Exchange stepped backward -11.89 points, or 1.4%, to 824.74.
Even so. seven of the 12 TSX subgroups were higher on the day, with information technology racing 2.3%, while consumer discretionary was up 1.2%, and consumer staples prospered 1%.
The five laggards were weighed most by energy and gold stocks, each down 2.8%, and materials, off 2.7%.
ON WALLSTREET
The Dow Jones Industrial Average overcame a nearly 500-point intraday loss Monday as technology names like Microsoft rallied amid falling interest rates.
The 30-stock index recovered 238.06 points, to 34,049.46.
The S&P 500 restocked 24.34 points to 4,296.12
The NASDAQ Composite leaped 165.56 points, or 1.3%, to 13,004.85.
Tech shares rebounded as rates fell, providing support to the major averages. Microsoft rose 2.4%, the second-biggest gainer on the Dow.
Google-parent Alphabet also gained nearly 2.9%, and Facebook-parent Meta added about 1.6% ahead of quarterly earnings reports slated for later this week.
Twitter jumped roughly 5.7% after the social media company announced it accepted billionaire Elon Musk’s buyout deal valued at about $44 billion.
Wall Street is bracing for a stacked week of earnings, particularly reports from major technology companies.
About 160 companies in the S&P 500 are expected to report earnings this week, and all eyes will be on results from mega-cap tech names, including Amazon, Apple, Alphabet, Meta Platforms and Microsoft.
Coca-Cola shares closed up nearly 1.1% after the company reported better-than-expected quarterly earnings before the bell Monday.
Energy shares retreated, comprising the worst-performing S&P 500 sector Monday. Chevron fell about 2.2% and was the second-biggest decliner on the Dow. Exxon Mobil lost nearly 3.4%.
About 160 companies in the S&P 500 are expected to report earnings this week, and all eyes will be on reports from mega-cap tech names, including Amazon, Apple, Alphabet, Meta Platforms and Microsoft.
Treasury prices slouched, springing yields up to 2.82% from Friday’s 2.9%. Treasury prices and yields move in opposite directions.
Oil prices subtracted $3.27 at $98.80 U.S. a barrel.
Gold prices dipped $35.30 to $1,899 U.S. an ounce.
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