It was a rollercoaster day on Bay Street, with consumer stocks propelling the country’s biggest exchange past the breakeven point Tuesday, as investors digested the latest inflation numbers.
The TSX forged ahead 5.04 points to finish Monday at 35,702.53.
The Canadian dollar fell 0.20 cents to 71.92 cents.
Among consumer staples, Metro popped $3.29, or 3.7%, to $91.45, while Loblaw Companies impressed $1.80, or 2.9%, to $63.08.
In the health-care sector, Curaleaf grabbed 77 cents, or 5.8%, to $14.06, while Bausch Health Companies captured 17 cents, or 2.1%, to $8.27.
In telecoms, Cogeco Communications boosted $1.43, or 2.5%, to $58.69, while Quebecor hiked $1.16, or 1.9%, to $63.98.
Gold weighed things down, though, with Eldorado Gold spilling $3.37, or 5.6%, to $57.26, while Allied Gold slid $1.62, or 5.1%, to $30.08.
In materials, 5N Plus shares shed $1.69, or 6.3%, to $25.11, while Ngex Minerals lost $1.28, or 5%, to $24.39.
In utilities, Brookfield Infrastructure descended $1.54, or 3%, to $49.54, while Capital Power docked $1.44, or 2.4%, to $59.38.
S&P Dow Jones said on Friday it would revise the eligibility criteria for S&P/TSX Canadian indices, which investors believe could pave the way for the inclusion of copper producer Anglo-Teck.
Shares in Anglo-Teck poked ahead five cents, to $92.16.
Industrials gained, with Thomson Reuters up $12.01, or 8.9% to $145.24, leading gains on the TSX.
Statistics Canada reported the Consumer Price Index (CPI) rose 3.0% year over year in August, matching the 3.0% increase in July. On a seasonally adjusted monthly basis, the CPI increased 0.2%.
Elsewhere, manufacturing sales declined 0.4% in July, mainly on decreased sales of chemicals and food product manufacturing.
The tech sector will remain in focus as AI-linked stocks on Wall Street fell in premarket trading after the heads of Anthropic and OpenAI warned that the pace of AI development needed to slow down.
Meanwhile, Prime Minister Mark Carney said on Sunday that the country is seeking a "unique alliance" with the European Union but not a membership.
ON BAYSTREET
The TSX Venture Exchange lost 7.99 points to 919.87.
Eight of the 12 subgroups were higher midday, led by consumer staples, up 2.4%, health-care ahead 2.1%. and telecoms, better by 1.4%.
The four laggards were weighed most by gold, down 2.4%, materials, slumping 2.2%, and utilities, fading 0.7%.
ON WALLSTREET
The S&P 500 fell slightly on Monday as investors monitored a major shakeup in the pipeline for artificial intelligence initial public offerings amid growing safety concerns as well as the latest moves in Treasury yields and oil.
The Dow Jones Industrials faltered 152.09 points to 52,421.20.
The much-larger index waned 37 points to 7,619.98.
The NASDAQ Composite lost 146.62 points to 26,186.41.
Global AI-related stocks fell after Anthropic CEO Dario Amodei called for a slowdown of the development of AI capabilities, with other major tech figures backing the proposal.
Amodei said in an essay on Saturday that AI companies need to slow the pace of innovation for their best models due to safety risks, and told CBS News on Sunday that the “toughest dilemma” about such a proposal is what would happen if China did not do the same.
Meanwhile, OpenAI CEO Sam Altman said in a Saturday interview an IPO this year would be “ill-advised.”
AI darling Nvidia fell 2%, while Broadcom and Advanced Micro Devices dropped 4%. Intel declined 4% as well, while Marvell Technology shed 6%.
Elsewhere, oil prices rose after Saudi Arabia shuttered a key pipeline that bypasses the Strait of Hormuz. West Texas Intermediate crude futures were up 3% at above $103 per barrel, while Brent crude futures gained 4% to above $108.
Prices for the 10-year Treasury gave slightly Monday, raising yields to 4.99% from Friday’s 4.94%. Treasury prices and yields move in opposite directions.
Oil prices nosed ahead $1.78 to $101.83 U.S. a barrel.
Gold prices tumbled $84.10 to $4,325.80 U.S. an ounce.
