Canada's main stock index kept its gains throughout Tuesday, as some investors pinned hopes on a resolution to the Sino-U.S. trade war
The S&P/TSX Composite remained positive 84.8 points to close Tuesday at 16,183.59
The Canadian dollar slipped 0.28 cents to 75.19 cents U.S.
Gold displayed its sheen by the closing bell, most notably, B2 Gold, which leaped 29 cents, or 6.2%, to $4.95, while Centerra Gold rocketed 85 cents, or 7.2%, to $12.69.
Metals scored big, as MAG Silver hurtled skyward $1.25, or 7.7%, to $17.52, while Labrador Iron Ore Royalty rose $1.04, or 4.2%, to $26.08
Tech issues were big as well, as Shopify rose $16.85, or 3.2%, to $541.95, while Constellation Software sprang $28.29, or 2.3%, to $1,282.67
Health-care stocks were ailing by the closing bell, as Canopy Growth floundered $1.96, or 5.9%, to $31.20, while Aphria dropped 47 cents, or 5.6%, to $7.98.
Energy stocks were also in the minus column, as Baytex Energy traveled eight cents, or 4.9%, to $1.54, while Birchcliff Energy lost 10 cents, or 5.4%, to $1.76.
A telling sector was the financial area, where BMO reported a third-quarter profit below market expectations, hurt by higher loan loss provisions.
BMO shares fell $3.38, or 3.7%, to $89.00, while Laurentian Bank was off 83 cents, or 1.9%, to $43.89.
ON BAYSTREET
The TSX Venture Exchange gained 0.4 points to 583.64
Eight of the 12 Toronto subgroups were positive on the day, with gold up 3.7%, materials stronger by 2.6%, and information technology ahead 2%,
The four laggards were weighed most by health-care, losing 3.1%, energy, down 0.6%, and financials down 0.3%.
ON WALLSTREET
The Dow Jones Industrial Average more than erased a 155-point rally on Tuesday as a recession indicator from the bond market worsened and fears around the U.S.-China trade war weighed on equity trading.
The Dow Jones Industrial Average fell into the red 106.84 points to 25,791.99.
The S&P 500 flopped 9.22 points to 2,869.16
The NASDAQ drew back 26.79 points to 7,826.95, amid losses in Netflix, Nvidia and T-Mobile.
The major indexes are all down at least 3.7% for the month of August.
The spread between the 10-year Treasury yield and the two-year rate fell to negative five basis points, its lowest level since 2007. This is called a yield-curve inversion. Experts fear it because in the past it has preceded recessionary periods.
Bank shares fell broadly. Bank of America fell 1.1% lower while Citigroup dropped 1.6%. J.P. Morgan Chase slid 1%.
Sentiment initially got a lift on Tuesday after China announced measures aimed at boosting consumption, including potentially removing car-buying restrictions. Auto stocks rose on the news. Ford Motor gained 0.3%. Fiat Chrysler and Ferrari rose around 1% each.
Johnson & Johnson shares rose 2.9% after the company was forced to pay $572 million in an opioid case in Oklahoma. The fine was much less than what prosecutors were looking for.
Prices for the benchmark 10-year U.S. Treasury gained sharply, lowering yields to 1.48% from Monday’s 1.54%. Treasury prices and yields move in opposite directions
Oil prices gained $1.28 to $54.92 U.S. a barrel.
Gold prices added $15.40 to $1,552.60 U.S. an ounce.
