The Toronto stock market enjoyed a slightly higher open Tuesday amid higher commodity prices and positive Chinese economic data.
The S&P/TSX composite index gained 25.56 points to 13,338.34
The Canadian dollar inched up 0.09 cents to 94.02 cents U.S.
China's factory production rose 10% in November from a year earlier, slightly lower than analysts' forecasts. But retail sales rose 13.7%, which was stronger than expected.
Among the biggest losses at the open were those exhibited by the consumer discretionary sector, as Rona shrank 1.2% in price to $12.80, while Canadian Tire fell to $97.75, also dipping 1.2%.
The gold sector did its bit to lift investor sentiment, as Barrick Gold leaped 4.8% to $17.82, and Lake Shore Gold popped 11.1% to 45 cents.
ON BAYSTREET
The TSX Venture Exchange fell 14.58 points to 902.07
Nine of the 14 TSX subgroups were lower at the outset, weighed mostly by consumer staple and consumer discretionary stocks, each down 0.4%, while industrials faded 0.3%.
Golds towered over the five gainers, strengthening 3.9%, while materials hiked 2%, and energy inched forward 0.3%.
ON WALLSTREET
Stocks fell Tuesday morning as investors hit the pause button a day after the S&P 500 closed at yet another record high.
The Dow Jones Industrials subtracted 24.85 points to 16,000.68
The S&P 500 index dropped 1.62 points to 1,806.75. The NASDAQ retreated 4.83 points to 4,063.93
This year has been a strong one for stocks, with all three indexes up more than 20% so far. But investors are wary to make big bets ahead of the Federal Reserve's policy meeting next week, when it will decide whether to continue pumping money into the economy at its current rate of $85 billion U.S. a month.
Though the broader market was little changed, a number of high-profile companies were making big news.
General Motors announced a new CEO Tuesday morning. The company named product development chief Mary Barra as next chief, succeeding Dan Akerson, who is stepping down. The U.S. government revealed Monday that it had sold the last of its stake in the automaker.
Lululemon shares gained ground after the yoga retailer announced that TOMS president Laurent Potdevin will become CEO of the company in January, replacing outgoing CEO Christine Day. The company also said founder Chip Wilson will step down as chairman in the spring. Lululemon struggled through several very public product recalls this year.
Bank stocks were in focus as regulators are set to vote on the Volcker Rule -- a key piece of the 2010 Dodd-Frank financial reform law. Shares of Goldman Sachs and Morgan Stanley rose nearly 2% in early trading while JPMorgan Chase and Bank of America were flat.
On the earnings front, Toll Brothers shares rose after the homebuilder topped profit and revenue estimates.
Gun maker Smith & Wesson is scheduled to release quarterly results after the closing bell. The company, as well as rival gun maker Sturm, Ruger, have surged this year as calls for stricter gun control laws of have started to wane in the year since the tragic shooting at Sandy Hook Elementary school in Newtown, Conn.
Prices for 10-year U.S. Treasuries surged, lowering yields to 2.80% from Monday’s 2.86%. Treasury prices and yields move in opposite directions.
Oil prices gained 90 cents to $98.24 U.S. a barrel.
Gold prices leaped $30.30 to $1,264.50 U.S. an ounce.
