Equities in Canada’s largest centre slid by noon Tuesday, as a drop in energy shares on weaker oil prices offset gains in miners.
The TSX Composite index remained negative 42.09 points by noon at 20,239.37.
The Canadian dollar fell 0.87 cents to 80.17 cents U.S.
Centerra Gold was up 14 cents, or 1.5%, to $9.74, while rival NovaGold Resources handed over its gains, losing a nickel to $10.46.
Oil was hit particularly hard, with Suncor falling $1.03, or 3.4%, to $29.25, while Arc Resources scaled back 35 cents, or 3.3%, to $10.34.
ON BAYSTREET
The TSX Venture Exchange dumped 4.84 points to 959.36.
Eight of the 12 TSX subgroups were lower around lunch time Tuesday, as energy dived 3.2%, consumer staples waned 1.1%, and consumer discretionary issues slumped 0.9%.
The four gainers were led by gold, up 1.2%, information technology, improving 0.8%, and real-estate, stronger 0.7%. .
ON WALLSTREET
Stocks fell on Tuesday as Wall Street kicked off the holiday-shortened week with concern that maybe the best of the economic recovery from the pandemic is behind us.
The Dow Jones Industrials tumbled 356.64 points, or 1%, to 34,429.71, dragged by losses in JPMorgan, Chevron and Goldman Sachs.
The S&P 500 loosed 32.71 points to 4,319.63. The S&P 500 is coming off a seven-day winning streak, its longest since August.
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 dropped 73.75 points from Friday’s all-time high to 14,565.57.
Amazon rose nearly 3% to lead technology shares as Andy Jassy officially took over as CEO on Monday. Jeff Bezos is now the executive chairman of the board.
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.
U.S. markets were closed for the July 4 Independence Day holiday on Monday.
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 1.36% from Friday’s 1.43%. Treasury prices and yields move in opposite directions.
Oil prices slouched $1.72 to $73.44 U.S. a barrel.
Gold prices jumped $12.60 to $1,795.90 U.S. an ounce.
