Canadian stocks fell south of breakeven Tuesday, after spending much of the day in positive country.
The S&P/TSX Composite Index sifted off 8.85 points to end the day at 11,980.10
The Canadian dollar gained 0.28 cents, to 101.20 cents U.S.
Shares of Canadian National Railway Co. rose 2.1% to $81.05 after Canaccord raised its rating on the stock to buy from hold. Shares of Canadian Pacific Railway Ltd rose 2.1% to $75.73. WestJet Airlines Ltd. also saw shares higher, gaining 2.7% to $14.25.
Also, Teck Resources Ltd. shares jumped 1.4% to $35.84 as the miner posted record revenues driven by coal production but booked a decline in earnings because of debt-finance charge.
In other mining stocks, shares Sherritt International Corp. advanced 0.7% to $5.68, while shares of Lundin Mining Corp. were unchanged at $4.39
Canadian markets had followed their U.S. and European counterparts lower Monday on political developments out of France and the Netherlands along with weak economic data in the region.
On Tuesday, yields on Dutch, Italian and Spanish bonds declined following successful auctions in those countries.
Shares of TransAlta Corp. rose 1.2% to $16.35, Fortis Inc. shares advanced 0.4% to $33.28, and Atco Ltd. shares gained 1.2% to $70.91.
On the economic ledger, Statistics Canada said retail sales dipped 0.2% in February following a downwardly revised 0.2% gain in January and a flat reading in December. Disappointing sales for vehicles and parts proved the main factor.
Meanwhile, the Conference Board of Canada says its consumer confidence index reversed course in April as Canadians continue to worry about jobs and finances. After three consecutive months of increases, the index fell 4.5 percentage points to 75 in April.
ON BAYSTREET
The TSX Venture Exchange ducked back 5.26 points to 1,365.77, while the Nasdaq Canada index dipped 1.20 points to 402.09
In all, nine of the 14 Toronto subgroups had sunk into the red by the closing bell. Gold, health-care and energy stocks each dipped 0.3%.
The five stalwarts were propelled upward by industrials, chugging ahead 0.7%, utilities, ahead 0.5%, and information technology, up 0.2%.
ON WALLSTREET
In New York, stocks were mixed Tuesday, with the Dow holding onto solid gains, while Netflix's disappointing outlook weighed down tech stocks.
The Dow Jones Industrials added 74.39 points to greet the closing bell at 13,001.60, boosted by better-than-expected earnings from AT&T and 3M
The S&P 500 grew 5.03 points to 1,371.97, led by Hershey, which surged to a seven-year high, and Baker Hughes. Both companies also topped first-quarter earnings estimates.
The tech-rich Nasdaq gave back 8.85 points to 2,961.60 dragged lower by declines in Netflix and Apple
Shares of Netflix tumbled 14% Tuesday, only a day after the company posted a first-quarter loss and issued a weak outlook.
Apple, the world's most valuable company, is set to release earnings after the market closes. Shares of the iPhone and iPad maker have been struggling lately, and are down more than 11% since hitting an all-time high earlier this month.
One of the busiest weeks for corporate results continued, with several heavyweights reporting first-quarter numbers.
In addition to AT&T and 3M, Dow component United Technologies also posted a better-than-forecast rise in earnings.
Texas Instruments' quarterly earnings dropped sharply, marking the fourth consecutive quarter of falling profits. But an upbeat outlook for growth boosted the chipmaker's stock.
About a third of the companies in the S&P 500 have reported results, and more than 75% have exceeded analyst expectations, according to Thomson Reuters. In a typical quarter, a little over 60% of companies beat estimates.
Meanwhile, shares of Big Lots plunged more than 20% after the company revised its first-quarter outlook for U.S. same-store sales, a key measure for retailers, lower from its March forecast.
Last month, the discount retailer estimated same-store sales would rise between 2% and 4% during the first quarter. Now, Big Lots said it expects sales to be "slightly negative."
IBM boosted its quarterly dividend 13% to 85 cents U.S. per share, marking the 17th straight year of increases. The company's board also approved a $7-billion U.S. share buyback program.
Economically, home prices hit yet another post-bubble low, according to the February reading of the S&P/Case-Shiller Home Price Index. Prices were down 0.8% from January and 3.5% from a year earlier. The data came in slightly wider than the 3.4% annual decline expected by economists.
The U.S. Census reported that new-home sales dropped 7.1% in March to an annual rate of 328,000. Economists were expecting sales to come in at an annual place of 318,000.
The March Consumer Confidence Index, which speaks to the public's degree of optimism, fell to 69.2 in April, from 70.2 the previous month. Economists were expecting a reading of 69.5.
The price on the benchmark 10-year U.S. Treasury eased, driving the yield up to 1.96% from Monday’s 1.93%. Treasury prices and yields move in opposite directions.
Oil for May delivery gained 35 cents to $103.46 U.S. a barrel.
Gold futures for June rebounded, gaining $9.50 to $1,642.10 U.S. an ounce.
