Canada's main stock index fell on Tuesday, dragged by financials and as investors stayed cautious ahead of U.S. inflation data this week, while cannabis firm Tilray Brands slumped after the second-quarter results to become the biggest decliner.
The TSX Composite handed over 120.95 points to move into noon hour Tuesday at 20,953.56.
The Canadian dollar moved lower 0.23 cents to 74.68 cents U.S.
Tilray surrendered 29 cents, or 9.3%, to $2.83.
Back home, shares of K92 Mining rose 55 cents, or 8.9% to the top of the TSX at $6.76, after the company reported record quarterly gold production and named a new chief operating officer.
ON BAYSTREET
The TSX Venture Exchange slid 4.22 points to 551.93.
All but one of the 12 subgroups pointed downward at noon hour, weighed most by health-care, off 1.7%, gold, sliding 1.5%, and materials, down 1.3%.
The lone holdout was information technology, up 0.5%.
ON WALLSTREET
U.S. stocks fell Tuesday, resuming their 2024 struggles.
The Dow Jones Industrials plummeted 195.44 points to pause for lunch at 37,487.57.
The S&P 500 dipped 11.11 points to 4,652.43.
The NASDAQ was negative 8.71 points to 14,835.06.
Several tech names were in the red Tuesday, taking back the sector’s whopping gains seen on Monday. Unity Software price lost 7.6% after the company said it would lay off roughly 25% of its workforce, and Netflix shares declined just less than 1% on a Citi downgrade. Apple shares were also down about 0.8%, while Tesla lost more than 2.5%.
On a more positive note, shares of Juniper Networks popped more than 21% on Tuesday after a Wall Street Journal report said Hewlett Packard
Enterprise could announce a deal to acquire the networking hardware company for about $13 billion as soon as this week.
Health care was the winning sector in the S&P 500, up by 0.33%.
Those moves come after a strong trading session for equities. The S&P 500 and the NASDAQ on Monday rallied as mega-cap tech stocks bounced from last week’s declines, with shares of Nvidia reaching an all-time high.
Prices for the 10-year Treasury fell, raising yields to 4.01% from Monday’s 3.98%. Treasury prices and yields move in opposite directions.
Oil prices took on $1.75 to $72.52 U.S. a barrel.
Gold prices jumped $2.60 to $2,036.10.
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