Markets in Toronto fell on Tuesday as losses for financial and energy stocks weighed and oil prices only partially recovered after falling up to 10% in just one week.
The S&P/TSX Composite shed 86.17 points to open a new month at 14,496.57
The Canadian dollar gained 0.66 cents to 76.85 cents U.S.
Markets in Canada were closed Monday for the Civic Holiday
Thomson Reuters has joined a consortium of the world's biggest financial institutions that is working on how to use the blockchain technology that underpins bitcoin in global financial markets.
Thomson shares dipped 70 cents, or 1.3%, to $54.31.
CIBC raised the price target on Fairfax Financial Holdings to $725.00 from $700.00. Fairfax shares were static at $700.01.
BMO cut the rating on Hudbay Minerals to market perform. Hudbay shares dove 11 cents, or 1.7%, to $6.40.
NBF raised the target price on Telus Corp to $44.00 from $42.00, with a sector perform. Telus shares fell 65 cents, or 1.5%, to $43.04.
The economic calendar is a scant one Tuesday, with the newly-renamed Markit Canadian Manufacturing PMI at a seasonally-adjusted 51.9 in July of 2016, up from 51.8 in June.
ON BAYSTREET
The TSX Venture Exchange gained 11.22 points to 796.17
All but three of the 13 subgroups were lower as health-care stocks swooned 1.9%, while energy dwindled 1.6%, and consumer discretionary stocks were down 1.1%.
The three gainers were gold, up 2.4%, materials, better by 1.7%, and information technology issues, improving 0.8%.
ON WALLSTREET
U.S. equities traded lower Tuesday, following global stock markets lower.
The Dow Jones Industrials stumbled 82.8 points to 18,321.71, putting it on track for its first seven-day losing streak since August of last year. Pfizer, which reported quarterly results before the bell, and Apple contributed the most losses within the Dow.
The S&P 500 slipped 12.69 points to 2,158.15, as utilities and telecommunications lagged.
The NASDAQ Composite trailed off 34.15 points to 5,150.05, on track to snap a five-day winning streak.
On the economic data front, personal income rose 0.2% in June, just below expectations, while personal consumer spending for the same month advanced 0.4%, beating estimates. July auto sales data is also due throughout the day Tuesday.
Investors will digest the latest employment statistics on Friday, when Washington releases the July non-farm payrolls report
Prices for the 10-year Treasury sagged, boosting yields to 1.56% from Monday’s 1.55%. Treasury prices and yields move in opposite directions.
Oil prices gained 52 cents a barrel to $40.58 U.S.
Gold prices gained $12.20 to $1,371.90 U.S. an ounce.
