Stocks Flat to Start Week

BlackBerry, TFI in Focus

Canada's main stock index was little changed on Monday, as losses in mining shares offset gains in heavyweight energy and banking stocks, while investors await U.S inflation data due later this week.

The TSX eked up 0.65 points to begin Monday and the week at 20,029.84, a shade above the record levels at which it ended last week.

The Canadian dollar faded 0.02 to 82.79 cents U.S.

The largest percentage gainers on the TSX were Trillium Therapeutics, up $1.46, or 14.8%, to $11.28, and BlackBerry, which rose $1.11, or 6.6%, to $17.85.

Advertising firm AcuityAds Holdings was down 12 cents to $13.63, while freight company TFI International lost $3.16, or 3.6%, to $110.65.

ON BAYSTREET

The TSX Venture Exchange squeezed up 1.83 points to 979.84,

Seven of the 12 TSX subgroups were in the red, with gold sinking 0.7%, while energy and materials each lost 0.5%.

The five gainers were led by health-care, 2.8% haler, while information technology and real-estate each gained 0.4%.

ON WALLSTREET

The S&P 500 fell slightly on Monday as the benchmark struggled to make a run at a record high after a winning week.

The Dow Jones Industrials stumbled 61.82 points at 34,694.57

The S&P 500 dipped 9.1 points to 4,220.79.

The NASDAQ jumped handed back 3.55 points to 13,810.94.

Tech stocks were weak in morning trading, weighing on sentiment a bit. Shares of Zoom and Tesla each fell about 1%.
Visa shares were higher, gaining 1% following an upgrade by Piper Sandler.

Meme stocks are back in the spotlight again this week. AMC rallied 20% on Monday. Most of these speculative stocks, including GameStop, AMC and BlackBerry, ended the week in the red despite massive gains after a volatile trading week.

Over the weekend the G-7 nations reached an agreement on global tax reform, calling for the world’s largest corporations to pay at least a 15% tax on their earnings.

That’s lower than the Biden administration’s initial suggestion of a minimum 21% tax rate, which didn’t garner much enthusiasm in other countries. Major companies including Facebook and Google have responded favorably to the agreement.

Prices for 10-Year Treasurys bowed, raising yields to 1.57% from Friday’s 1.56%. Treasury prices and yields move in opposite directions.

Oil prices lost 32 cents to $69.30 U.S. a barrel.

Gold prices grabbed $20.70 to $1,894.00 U.S. an ounce.