Canada's main stock index was subdued at the market open on Monday as investors remained cautious ahead of U.S. economic data and the Bank of Canada's monetary policy decision this week, while gains in materials stocks limited declines.
The TSX Composite docked 44.27 points to open Monday at 21,508.08.
The Canadian dollar dipped 0.11 cents to 73.67 cents U.S.
Fuel retailer Parkland Corp's biggest shareholder Simpson Oil said on Sunday it would evaluate options to protect its rights after Parkland advanced its annual meeting, limiting Simpson's ability to nominate directors. Parkland shares gave up 19 cents to $42.64.
ON BAYSTREET
The TSX Venture Exchange gathered 6.08 points, or 1.1%, to 577.68.
All but three of the 12 subgroups led off Monday in the red, with health-care sicker by 1.1%, while communications and utilities each off 1%.
The three gainers were gold, ahead 1.9%, materials, up 1.1%, and financials nosing up 0.01%.
ON WALLSTREET
The Dow Jones Industrial Average retreated Monday as traders took a breather from a rally that brought the major U.S. stock benchmarks to record highs.
The 30-stock index collapsed 85.43 points to kick off Monday at 39,001.95.
The S&P 500 inched down 1.67 points to 5,135.41.
The NASDAQ faded 23.11 points to 16,251.83.
Apple fell more than 2% after getting hit with a European Union antitrust fine of nearly $2 billion. The EU’s executive arm said the technology giant misused its power as a market dominator in the music streaming distribution space.
Lyft shares climbed more than 5% on the back of an upgrade to outperform from sector perform by RBC. Super Micro Computer and Deckers Outdoor rallied more than 18% and 2%, respectively, following the S&P Dow Jones Indices announcement that the pair will join the S&P 500 later this month.
JetBlue rose more than 2%, while Spirit Airlines tumbled more than 10%. The airlines said Monday that they would end plans to combine, weeks after losing a federal antitrust lawsuit that jeopardized the $3.8-billion deal.
Prices for the 10-year Treasury stumbled, raising yields to 4.23% from Friday’s 4.18%. Treasury prices and yields move in opposite directions.
Oil prices dropped 52 cents to $79.45 U.S. a barrel.
Gold prices surged $14.50 to $2,110.20.
