Equities in Toronto began the day negative, with losses broad-based as a drop in oil prices weighed on the resource-linked index.
The S&P/TSX Composite Index thundered lower 99.1 points to open Tuesday at 13,291.09
The Canadian dollar dipped 0.06 cents to 75.77 cents U.S.
Desjardins cut the target price on Sears Canada to $4.75 from $8.50. Sears shares surrendered eight cents, or 2.2%, to $3.52.
Canaccord Genuity raised the target price on Barrick Gold to $21.50 from $21.00. Barrick shares inched up two cents to $17.99.
On the economic calendar, Statistics Canada reported its industrial product price index moved lower 1.1% in February – due to lower energy and petroleum products -- while its raw materials price index tailed off 2.6% during the same month, mainly as a result of lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange inched lower 0.62 points to 575.18
All but three of the 13 TSX subgroups were negative, with metals and mining sliding 3.2%, energy fading 1.6%, and health-care off 0.8%.
The three gainers were gold, up 0.3%, information technology eking ahead 0.1%, and consumer discretionary stocks clearing breakeven 0.01%.
ON WALLSTREET
Equities in New York traded lower Tuesday as a decline in oil prices weighed, ahead of a highly anticipated speech from U.S. Fed Chair Janet Yellen.
The Dow Jones Industrials gave back 45.17 points to 17,490.22, with Boeing and 3M contributing the most to declines. McDonald's contributed the most to gains.
The S&P 500 shed 2.85 points to 2,034.20. Energy came off early lows to trade 1% lower to lead S&P 500 decliners
The NASDAQ index nicked back 0.51 points to 4,766.28, as Apple traded more than 0.5% higher
Lennar beat estimates by 11 cents with earnings of 63 cents U.S. a share, on revenue that also topped expectations. The home builder reported a nearly 10% increase in new orders and a 12% rise in deliveries. The stock held more than 2.5% higher in morning trade
Economically speaking, U.S. consumer confidence showed a rise in March to 96.2 from 94.0 in February.
In other economic news, the S&P/Case-Shiller 20-City Composite Index for January showed a 5.7% rise from the previous year. The March jobs report is due Friday.
Prices for the 10-year Treasury gained ground, lowering yields to 1.86% from Monday’s 1.89%. Treasury prices and yields move in opposite directions.
Oil prices fell $1.38 a barrel to $38.01 U.S.
Gold prices picked up $3.18 to $1,224.89 U.S. an ounce.
