Canada's main stock index edged lower in early trading Tuesday amid weakness in gold stocks as investors reduced positions in the yellow metal.
The S&P/TSX Composite Index was off 15.80 points at 15,104.11.
The price of gold fell on Tuesday as easing tensions pushed investors back to equities. Spot gold was down 0.76 percent at $1,277.18 per ounce.
In corporate news -- Husky Energy will acquire the Superior Refinery, a 50,000 barrel per day permitted capacity facility located in Superior, Wisconsin from Calumet Specialty Products Partners, L.P. for $435 million US in cash.
The Canadian dollar shed 0.28 cents to 78.37 cents U.S.
ON BAYSTREET
The TSX Venture Exchange was flat, inching down 0.79 points to 763.85.
Three of the 12 TSX subgroups were positive by this morning, with utilities adding 0.28%, tech stocks up 0.17%, and financials up 0.05%.
On the downside, health-care was off 0.96%, gold shed 0.70% and materials dipped 0.56%.
ON WALLSTREET
US stocks ran out of steam in early Tuesday trading even as North Korea worries retreated for a second day. Equities enjoyed their best day in four months just 24 hours earlier.
The Dow Jones Industrial Average advanced 0.1% at 22,005, the S&P 500 declined 0.09% and the Nasdaq fell 0.19%.
In earnings, Advance Auto Parts Inc. (AAP) slumped 15% after falling short of earnings estimates over its recent quarter. Adjusted profit of $1.58 a share fell short of an estimated $1.65. Revenue was flat at $2.264 billion, in-line with estimates. Same-store sales were also flat. For the full year, the retailer anticipates same-store sales to fall between 1% and 3%.
Home Depot Inc. (HD) reported quarterly earnings that exceeded estimates and comparable-store sales growing more than anticipated. Profit rose to $2.25 a share from $1.97 a year earlier, 4 cents higher than targeted. Revenue of $28.11 billion topped estimates of $27.83 billion. Comparable-store sales increased 6.3%, higher than an expected 4.9% gain.
Retail sales in July rose at a faster pace than anticipated, reaching a seven-month high in a positive sign that consumers were spending in the first month of the third quarter. Sales increased by 0.6%, according to the Census Bureau, higher than an expected rise of 0.4%. Core retail sales rose by 0.5%.
Manufacturing activity in the New York region reached to a three-year high in August. The Empire State Manufacturing Index increased by 15 points to 25.2, far better than an anticipated unchanged level of 9.8. Any level above zero suggests growth.
Business inventories increased in June at a faster pace than anticipated. The Census Bureau reported a 0.5% rise in manufacturers' and trade inventories in June, higher than a 0.4% expected gain. Sales climbed 0.3%.
The National Association of Home Builders' housing market index unexpectedly improved in August. The measure increased by 4 points to a level of 68. Homebuilder sentiment had reached an eight-month low in July. Analysts anticipated a retreat to 65.
The benchmark 10-year Treasury yield climbed 3.5 basis points to 2.254%, extending the previous session’s gain of 2.6 basis points. Bond prices move inversely to yields.
Benchmark Brent crude was down 63 cents, or 1.2 percent, at $50.10 a barrel.
