Canada's main stock index ventured south at Tuesday’s open, despite gains in miners after gold prices rose above the key $1,800 level.
The TSX Composite index folded 56.58 points to kick off the session on Tuesday at 20,224.88
The Canadian dollar fell 0.47 cents to 80.57 cents U.S.
Scotiabank raised the rating on Cascades to outperform from sector perform. Cascades shares shrank 15 cents to $15.95.
Canaccord Genuity initiated coverage on Dream Impact Trust with buy rating. Units of the trust grew eight cents, or 1.2%, to $6.71.
RBC assumes coverage on Dundee Precious Metals with outperform rating. Dundee shares jumped 17 cents, or 2.3%, to $7.67.
ON BAYSTREET
The TSX Venture Exchange recovered 1.71 points to 965.91
Seven of the 12 TSX subgroups were lower on the scale first thing Tuesday, as energy dived 3%, health-care paled 1.4%, and consumer staples slipped 0.9%.
The five gainers were led by gold, up 1.9%, materials, rallying 0.8%, and information technology, improving 0.4%.
ON WALLSTREET
Stocks fell slightly on Tuesday as Wall Street kicked off the holiday-shortened week with the NASDAQ Composite at record highs.
The Dow Jones Industrials swooned 238.36 points following the long weekend to 34,547.99, dragged down by losses in JPMorgan, Chevron and Goldman Sachs.
The S&P 500 dropped 15.71 points to 4,336.63. Wall Street’s consensus year-end target for the S&P 500 stands at 4,276, representing a near 2% loss from the 500-stock average’s current level, according to experts.
The NASDAQ gathered 18.77 points to 14,635.33, adding to Friday’s all-time peak.
U.S. markets were closed for the July 4 Independence Day holiday on Monday.
U.S. shares of Chinese ride-hailing giant Didi plunged as much as 25% after China said new users could not download the app until it conducts a cybersecurity review. The announcement took markets by surprise given that Didi just made its U.S. debut on the NYSE last week.
Amazon rose nearly 3% as Andy Jassy officially took over as CEO on Monday. Jeff Bezos is now the executive chairman of the board.
The Institute for Supply Management Services index fell to 60.1 in June, while economists polled by Dow Jones expected a print of 63.5.
Prices for 10-Year Treasurys gained ground, lowering yields to 1.37% from Friday’s 1.43%. Treasury prices and yields move in opposite directions.
Oil prices slumbered 62 cents to $74.54 U.S. a barrel.
Gold prices jumped $28.70 to $1,812 U.S. an ounce.
