Markets in Toronto faded from Monday’s close, as investors digested trade numbers from both sides of the border.
The S&P/TSX composite index subtracted 6.14 points to open Tuesday at 15,361.33
The Canadian dollar gained 0.33 cents to 83.02 cents U.S.
Consumer staples were chief among the groups fading in strength, as Alimentation Couche-Tard, yesterday’s big winners, slipped $1.32, or 2.8%, to $46.27.
Health-care stocks were also ailing, as Valeant Pharmaceuticals Inc. lost $5.18, or 1.9%, to $264.51.
Energy provided one of the few bright spots in the early going, thanks mostly to a 30-cent, or 6.4%, surge in prices for Pacific Rubiales Energy, which reached $4.97, and Trican Well Services, which mushroomed 26 cents, or 5.2%, to $5.28.
On the economic slate, Statistics Canada reported Tuesday morning that Canada's imports hiked 2.2% in March while exports edged up 0.4%. As a result, our merchandise trade deficit with the world widened from $2.2 billion in February to a record $3.0 billion in March.
ON BAYSTREET
The TSX Venture Exchange added 2.68 points to 701.80
All but three of the 14 Toronto subgroups were lower in the first hour, with consumer staples sinking 1%, health-care down 0.9%, and real-estate 0.7% less solid.
The three gainers were energy, up 1.2%, gold, ahead 0.9%, and materials, better by 0.4%.
ON WALLSTREET
U.S. stocks traded lower on Tuesday as investors awaited more domestic data for April that could shed light on the timing of an interest rate hike.
The Dow Jones Industrials faded 38.17 points to 18,032.23, with Microsoft and Intel leading laggards and Walt Disney the greatest advancer.
The S&P 500 index dipped 1.09 points to 2,113.40, with utilities leading seven sectors lower and energy the greatest advancer.
The NASDAQ moved lower 15.78 points to 5,001.15
Earnings season continues, with morning reports from Disney, Estee Lauder, Kellogg, Sprint, Towers Watson, Bloomin' Brands and Zoetis.
Walt Disney delivered quarterly earnings and revenue that topped analysts' expectations on Tuesday.
Electronic Arts, LendingClub, News Corp, Groupon, Herbalife, Newfield Exploration, SolarCity and Weight Watchers are all due after the bell.
The pace of expansion in the U.S. services sector eased from a seven-month high in April on a dip in new business growth, but hiring in the sector accelerated to its highest since June, an industry report showed on Tuesday.
Financial firm Markit said its final reading of its Purchasing Managers Index for the services sector slipped to 57.4 in April, a level that was down from both the preliminary April read of 57.8, as well as the final March read of 59.2. March's level was the highest since August.
April's non-manufacturing ISM topped expectations, coming in at 57.8 versus the expected 56.3 and March's 56.5.
Prices for 10-year U.S. Treasuries stumbled, raising yields to 2.19% from Monday’s 2.15%. Treasury prices and yields move in opposite directions.
Oil prices perked $1.41 to $60.34 U.S.
Gold prices hiked $9.70 to $1,196.50 U.S.
