Equities in Canada’s biggest markets slipped on Tuesday as resources stocks pulled back with underlying commodity price uncertainty while the small technology sector made some gains.
The S&P/TSX Composite fell 25.96 points to move into noon hour at 14,506.44
The Canadian dollar slumped 0.57 cents to 76.67 cents U.S.
The most influential weights included Suncor Energy, which fell 0.8% to $35.92, and Brookfield Asset Management Inc, which declined 0.5% to $45.48.
First Quantum Minerals fell 3.8% to $10.01, and Teck Resources declined 2.4% to $18.14. Fertilizer company Agrium Inc fell 1.4% to $123.21.
On the positive side, Open Text Corp rose 1.2% to $78.64 after two analysts raised their price targets for the software company.
Barrick Gold Corp added 0.2% to $28.02 and TransCanada rose 0.3% to $60.58.
ON BAYSTREET
The TSX Venture Exchange regained 2.82 points to 766.56
Seven of the 13 subgroups moved higher, as information technology progressed 1%, utilities clicked 0.4% higher, and consumer staples took on 0.3%.
The half-dozen laggards were weighed mostly by metals and mining, down 2.2%, energy, down 0.7%, and materials, slipping 0.5%.
ON WALLSTREET
Wall Street pulled back mildly Tuesday after weeks of record highs for stocks, as investors digested second-quarter earnings.
The Dow Jones Industrials subtracted 22.56 points from Monday’s all-time high to 18,510.49, with Boeing contributing the most to gains.
The S&P 500 gave back 6.2 points to 2,160.69, with eight out of 10 sectors in the red. Industrials and financials were the only sectors moving higher.
The NASDAQ Composite Index tottered 17.72 points to 5,038.07
Bank earnings continued to surprise with Goldman Sachs posting better-than-expected results Tuesday. Goldman joins Citigroup,
JPMorgan Chase, and Bank of America on the list of big U.S. financial institutions topping second-quarter profit forecasts.
Shares of Netflix fell more than 14% after the company beat on earnings Monday, but posted subscriber numbers that missed guidance. The stock is seeing its worst daily performance since October 16, 2014.
Johnson & Johnson beat Wall Street estimates for quarterly sales, helped by strength in its pharmaceuticals business, the company said.
The stock rose more than 2% on the news, trading at an all-time high dating back to 1972.
Economically speaking, U.S. housing starts rose more than expected in June, at a pace of 1.19 million units versus economists' expectations of a 1.17 million-unit pace.
Prices for the 10-year Treasury gained, felling yields to 1.55% from Monday’s 1.59%. Treasury prices and yields move in opposite directions.
Oil prices lost 39 cents a barrel to $44.85 U.S.
Gold prices gained $3.70 to $1,333.00 U.S. an ounce.
