Equities in Toronto took a breather from record highs of the past few trading days, as gold and real-estate faltered by Tuesday’s final bell.
The TSX Composite lost 14.8 points to close Tuesday at 20,806.63, from Friday’s all-time record.
The Canadian dollar subtracted 0.74 cents to 79.07 cents U.S.
Among individual subgroups, gold stocks took the worst pounding as B2G stepped back 15 cents, or 3%, to $4.85, while Eldorado Gold handed over 32 cents, or 2.8%, to $10.97.
In real-estate, Allied Properties REIT dipped 90 cents, or 2.1%, to $42.32, while H&R REIT fell 23 cents, or 1.4%, to $16.25.
In industrials, Canadian National Railway reversed $3.67, or 2.3%, to $155.34, while rival Canadian Pacific stepped back $1.06, or 1.2%, to $89.53.
Among gainers, Martinrea International led consumer stocks, forging ahead 22 cents, or 1.8%, to $12.62, while Magna International hiked $1.44, or 1.4%, to $102.12.
In financial stocks, Sprott Inc., jumped $1.29, or 2.8%, to $47.33, while goeasy bloomed $3.51, or 1.8%, to $204.60.
In tech issues, Tecsys acquired $2.95, or 5.3%, to $58.45, while Evertz Technologies moved ahead $10.41, or 3.1%, to $13.54,
ON BAYSTREET
The TSX Venture Exchange slumped 9.73 points, or 1%, to close Tuesday at 913.49.
All but three of the 12 TSX subgroups were lower to conclude the week’s first session, with gold tumbling 1.5%, while real-estate and industrials each fell 0.7%.
The three gainers proved to be information technology and financials, each up 0.3%, while consumer discretionary stocks inched up 0.1%.
ON WALLSTREET
The Dow Jones Industrial Average fell on Tuesday amid lingering concerns about the Delta variant’s impact on the economic reopening.
The 30-stock index plummeted 268.16 points to 35,100.93, dragged down by a 2% loss in Boeing’s stock.
The S&P 500 retreated 15.4 points to 4,520.03, after hitting all-time highs last week.
The NASDAQ Composite poked toward another new all-time high, up 10.81 points to 15,374.33.
Goldman Sachs downgraded its economic outlook over the weekend, citing the delta variant and fading fiscal stimulus. Goldman now sees 5.7% annual growth in 2021, below the 6.2% consensus. The firm cut its fourth-quarter GDP outlook to 5.5%, down from 6.5%.
Boeing shares were lower after the Wall Street Journal reported deliveries for the 787 Dreamliner would likely be further delayed. PPG Industries, a paint maker, warned that sales may fall short this quarter because of logistics issues and higher commodity costs. Shares of PPG Industries ticked 3.4% lower.
Drug stocks including Johnson & Johnson, Merck and Amgen all closed lower after Morgan Stanley downgraded the three stocks.
Year-to-date, the Dow is up 14.7%, the S&P is up 20.3% and the NASDAQ is up 19.3%, although investors and analysts are still on the lookout for a major correction in September.
Prices for 10-Year Treasurys sagged, raising yields to 1.37% from Friday’s 1.32%. Treasury prices and yields move in opposite directions.
Oil prices backtracked 95 cents to $68.34 U.S. a barrel.
Gold prices plunged $38.00 to $1,795.70 U.S. an ounce.
