Equity markets in Toronto suffered a lower open on Tuesday as upbeat U.S economic data heightened worries the Federal Reserve will soon scale back its monetary stimulus.
The S&P/TSX composite index shed 57.29 points to begin Tuesday at 13,362.18
The Canadian dollar slipped 0.13 at 93.84 cents U.S. early Tuesday
Potash Corp of Saskatchewan Inc said it would cut more than 1,000 jobs, or 18% of its workforce in Canada, the United States and Trinidad. Potash shares added four cents to $33.75
Semafo has closed the $1.25-million sale of its 80% stake in Societe des Mines du Liptako, owner of the Samira Hill mine in Niger, to Societe de Patrimoine des Mines du Niger. Semafo shares gave back a penny to $2.47
TransCanada Corp. on Monday said there was currently no operating issue with its 590,000-barrel-per-day Keystone XL crude oil pipeline system. TransCanada shares acquired 16 cents to $47.55.
ON BAYSTREET
The TSX Venture Exchange dipped 1.56 points to 920.93
All but two of the 14 TSX subgroups were lower to begin Tuesday. Financials skidded 1.1%, gold was off 1%, and metals and mining demurred 0.8%.
The two stalwarts were in energy, up 0.2%, and consumer discretionaries, up 0.02%.
ON WALLSTREET
It’s early in the month, but already, investors are reluctant to let this record run go to the end of the year.
The Dow Jones Industrials fell 48.65 points to 15,960.10
The S&P 500 index slipped 1.74 points to 1,799.16. The NASDAQ inched forward 1.89 points to 4,047.15
The S&P has managed gains in December for 24 of the past 30 years, but with the index up 27% so far in 2013 investors are ready to take a break.
There's little corporate or economic news expected Tuesday. Ford, General Motors and other major automakers will release their monthly sales figures over the course of the day.
In other company news, Sony said that it sold 2.1 million Playstation 4s worldwide as of Dec. 1.
Prices for 10-year U.S. Treasuries regained lost ground, lowering yields to 2.78% from Monday’s 2.80%. Treasury prices and yields move in opposite directions.
Oil prices were up 43 cents to $94.25 U.S. a barrel.
Gold prices sagged 50 cents to $1,221.40 U.S. an ounce.
