Equities in Toronto sustained the flat open promised by experts Tuesday, as gains in shares of precious metal miners, lifted by higher prices for safe asset gold, countered losses in energy companies.
The S&P/TSX Composite docked 0.01 points to open Tuesday at 16,237.76
The Canadian dollar doffed 0.13 cents to 75.41 cents U.S.
Brookfield Business Partners LP said it would buy 57% in Genworth Financial's Canadian mortgage insurance unit for about $2.4 billion.
Brookfield shares picked up 76 cents, or 1.6%, to $47.42.
National Bank of Canada raised the target price on Emera Inc. to $54.00 from $52.00. Emera shares doffed four cents to $55.90
CIBC raised the rating on Laurentian Bank of Canada to neutral from underperform. Laurentian shares jumped 95 cents, or 2.1%, to $45.76.
National Bank of Canada cut the rating on Roots Corp. to sector perform from outperform. Roots gained three cents to $3.24.
ON BAYSTREET
The TSX Venture Exchange gained 2.16 points to 596.85
All but three of 12 Toronto subgroups made hay in the first hour or so, led by 0.6% gains in consumer staples, a 0.4% hike in gold, and strength of 0.3% in real-estate issues.
The three laggards were energy, down 0.8%, financials, off 0.1%, and information technology, fading 0.03%.
ON WALLSTREET
Stocks surged higher in a sudden move after the U.S. said it was delaying China tariffs until Dec.15 on items including cellphones and clothing. The U.S. also removed some items from list of new tariffs outright.
The Dow Jones Industrials regained 369.31 points, or 1.4%, from the rubble of Monday’s near-400-point-loss, to 26,267.02
The S&P 500 recouped 41.52 points, or 1.4%, to 2,924.45
The NASDAQ moved skyward 154.24 points, or 2%, to 8,017.65, led by Apple which surged more than 5%.
The U.S. Trade Representative announced Tuesday certain products are being removed from the tariff list based on "health, safety, national security and other factors" and will not face additional tariffs of 10%. The representative added the tariff should be delayed to Dec. 15 from Sep. 1 for certain articles.
Retailers cheered the potential delayed rise in costs for apparel and electronics. Best Buy soared 10%, while Nike jumped 2%. Macy’s and Nordstrom also collected more than 4%.
In corporate news, JD.com, Advance Auto Parts, and Elanco Animal Health are among some of the companies scheduled to report their latest quarterly results before the opening bell.
CDK Global, Adaptive Biotech, and Change Healthcare are among some of the companies set to report earnings after market close.
Economically speaking, the U.S. Labor Department’s consumer price index report showed inflation came in as expected last month. The yield curve continued to narrow after the report.
Prices for the benchmark 10-year U.S. Treasury fell sharply, upping yields to 1.7% from Monday’s 1.64%. Treasury prices and yields move in opposite directions
Oil prices rolled higher $1.53 to $56.46 U.S. a barrel.
Gold prices sank $19.00 to $1,498.20 U.S. an ounce.
