Markets in Canada’s largest centre fell on Tuesday as a fall in gold prices weighed on miners, while a stronger-than-expected U.S. inflation reading reinforced higher-for-longer rate expectations.
The TSX shed 275.81 points to conclude Tuesday at 36,170.45.
The Canadian dollar fell 0.35 cents to 70.48 cents U.S.
Endeavour Silver reported a 29% increase in quarterly revenue, but narrowed annual gold production guidance to 42,000-43,500 oz. Endeavour dipped 33 cents, or 2.8%, to $11.47.
Equinox Gold reported third quarter revenue slightly above estimates, but adjusted EPS missed estimates. Equinox faltered 50 cents, or 6.2%, to $15.97.
Rival B2Gold slipped $6.50, or 6.2%, to $7.55.
Aritzia floundered $5.03, or 3.1%, to $157.02, while Gildan Activewear dropped 88 cents, or 1.7%, to $50.63.
In energy issues, Paramount Resources gained $1.19, or 3.9%, to $32.06, while IPCO tacked on $1.07, or 3%, to $37.05.
In utilities, Altagas perked $1.43, or 2.7%, to $54.72, while Canadian Utilities soared 85 cents, or 1.6%, to $52.87.
Moreover, GFL Environment tumbled $5.58, or 8.6%, to $59.25, after the waste-disposal giant's board reaffirmed its strategy to remain public.
ON BAYSTREET
The TSX Venture Exchange subtracted 13.94 points, or 1.7%, to 822.09.
Eight of the 12 subgroups were lower on the day, weighed largely by gold, duller in price 4.4%, materials, stumbling 3.7%, and consumer discretionary stocks, dipping 1.%.
The four gainers were led by energy, improving 1%, utilities, up 0.4%, telecoms, better by 0.3%.
ON WALLSTREET
Stocks fell on Tuesday after October inflation data came in hotter than expected and a key Federal Reserve official hinted at the possibility of a half-point rise in rates next month.
The Dow Jones Industrial index lost 156.49 points to 52,233.26.
The S&P 500 index slid 28.97 points to 7,520.97
The tech-heavy NASDAQ slumped 187.26 points to 25,223.26.
Nvidia dragged down the three major averages, falling 5%. The stock sat out Monday’s tech-fueled rally following CEO Jensen Huang’s admission over the weekend to an affair with an alleged Chinese spy.
The consumer price index rose 0.4% in October, above the gain of 0.3%, which economists polled by Dow Jones expected.
Core CPI, which excludes volatile food and energy costs, increased 0.3% in October. Economists had called for a 0.2% advance on the month.
Annual figures were not provided for Tuesday’s report because of the 2025 government shutdown.
The report followed Fed Governor Christopher Waller saying in a speech Tuesday that he thinks a December rate hike is likely. He also opened the door for a larger half-point increase next month as inflationary pressures persist.
Prices for the 10-year Treasury slumped, raising yields to 4.99% from Monday’s 4.87%. Treasury prices and yields move in opposite directions.
Oil prices dumped 47 cents to $86.38 U.S. a barrel.
Gold prices fell $72.10 to $4,042.40 U.S. an ounce.
