Canada's main stock index fell on Monday, weighed by losses among energy stocks and precious metal miners, although upbeat economic data out of China limited losses.
The S&P/TSX Composite remained in the red 31.01 points midday Monday at 21,737.52.
The Canadian dollar gained 0.19 cents at 79.89 cents U.S.
Among stocks, Tim Hortons-parent Restaurant Brands International gained 1.4%. The company said it would buy U.S. restaurant chain Firehouse Subs for $1 billion in an all-cash deal.
Pot producer Trulieve Cannabis surged 10.3% after it reported a 64.4% jump in quarterly revenue.
On the economic slate, wholesale trade grew 1.0% in September, generated by higher sales of agricultural supplies and machinery, equipment and supplies.
Manufacturing sales fell 3.0% in September, mainly attributable to lower sales in the motor vehicle industry.
Lastly, national home sales rose 8.6% on a month-over-month basis in October, according to the Canadian Real Estate Association.
ON BAYSTREET
The TSX Venture Exchange subtracted 1.4 points to 1,019.66.
Seven of the 12 TSX subgroups were lower in the early afternoon with materials subsiding 0.9%, energy sagging 0.7%, and industrials down 0.4%.
The four gainers were led by consumer discretionaries, adding 1.0%, consumer staples surging 0.8%, and communications up 0.1%.
Health-care stocks were unchanged by noon hour.
ON WALLSTREET
U.S. stocks turned lower Monday as Treasury jumped, paring gains from earlier in the day as U.S. Treasury yields reversed and climbed higher.
The Dow Jones Industrials gathered 24.37 points to move into the afternoon hours Monday at 36,124.68.
The S&P 500 dropped 3.14 points to 4,679.71.
The NASDAQ Composite ditched 52.36 points to 15,808.60.
Tesla shares fell 4.5% Monday following a weekend Twitter exchange between CEO Elon Musk and Sen. Bernie Sanders, in which Musk suggested he’d be willing to sell even more of his shares. Musk sold nearly $7 billion worth of Tesla stock last week.
However, shares of NASDAQ member Dollar Tree jumped 13% following a report Friday that activist investor Mantle Ridge has taken a stake worth at least $1.8 billion in the discount store chain and will push it to do more to add to shareholder value.
Dow component Boeing rose 5% following news that Saudi Arabian Airlines is in talks with Airbus and Boeing for a wide-body jet order. At the same time, Emirates announced an order for two Boeing 777 Freighters at the 2021 Dubai Airshow.
On Monday, President Joe Biden will host a bipartisan bill signing ceremony for the Infrastructure Investment and Jobs Act.
Prices for 10-year Treasurys lost ground Friday, raising yields to 1.62%, from 1.57% on Friday. Treasury prices and yields move in opposite directions.
Oil prices fell 85 cents to $79.94 U.S. a barrel.
Gold prices slid $2.60 to $1,863.10 U.S. an ounce.
