Canada's main stock index was subdued on Monday, with losses in mining and technology stocks countering optimism following signs of a slowdown in the pace of U.S. interest rate hikes.
The TSX Composite came off its highs of the morning, but remained positive 15.26 points, to move into lunch hour at 18,876.21.
The Canadian dollar gave back 0.44 cents to 72.85 cents U.S.
Among single stocks, NFI Group went down the shaft $1.87, or 16.1%, to $9.74, after the bus manufacturer cut fiscal 2022 revenue guidance and warned of margin pressure from higher inflation.
Energy stocks did their best to hoist things upward, as Cenovus Energy hiked 56 cents, or 2.3%, to $26.32.
In utilities, Transalta Renewable jumped 46 cents, or 3.9%, to $13.92.
Cannabis concerns took it on the chin, with Tilray suffering 18 cents, or 3.9%, to $4.41.
Focus is on the Bank of Canada's policy decision on Wednesday, with traders pricing in a 70.2% chance of a supersized 75-basis-point hike, taking its overnight lending rate to a 14-year high at 4%.
ON BAYSTREET
The TSX Venture Exchange faded 7.57 points, to 585.47.
Seven of the 12 TSX subgroups gained ground, as energy rumbled forward 1%, while consumer discretionary and industrial stocks each tallied 0.9%.
The five laggards were weighed most by health-care, sliding 1.6%, materials, settling 1%, and gold, dulling in price 0.8%.
ON WALLSTREET
The Dow Jones Industrial Average rose Monday, as traders tried to add to sharp the gains seen in last week and weighed the latest moves in rates.
The 30-stock index added 266.84 points to 31,349.69.
The S&P 500 picked up 21.1 points to 3,773.75.
The NASDAQ fell 14.68 points to 10,845.03.
The moves come after yet another volatile week for stocks as third-quarter earnings season heats up. The major averages had their biggest weekly gains since June, with the Dow advancing 4.9%. The S&P 500 perked 4.7% and NASDAQ rose 5.2%.
Investors will watch for earnings from tech giants such as Apple, Alphabet, Amazon and Microsoft this week. Wall Street will also be watching for more inflation data, with the October manufacturing and services purchasing managers indexes coming Monday.
Treasury prices gained, lowering yields to Friday’s 4.22%. Treasury prices and yields move in opposite directions.
Oil prices slid 57 cents to $84.48 U.S. a barrel.
Gold prices sagged $2.50 to $1,653.80 U.S. an ounce.
