Stocks in Canada’s largest centre recovered from earlier losses and scrambled unsuccessful back towards the breakeven point, as uncertainty over how the COVID-19 pandemic will eventually play itself out.
The S&P/TSX Composite Index stayed negative 90.69 points, off its lows of the day, to 14,075.94.
The Canadian dollar hurtled 0.63 cents to 72.13 cents U.S.
Markets in North America were closed Friday for Good Friday.
Real-estate fell heaviest on the market, with Colliers International Group stumbling $5.77, or 7.1%, to $75.90, while Dream Office REIT units sank $1.52, or 6.5%, to $21.85.
Health-care was in the minus category, with Aurora Cannabis dropping 17 cents, or 14.8%, to $1.04, while Chartwell Retirement Residence falling 65 cents, or 6.8%, to $8.97.
In consumer discretionary issues, MTY Food Group jettisoned $1.90, or 8%, to $21.87, while Restaurant Brands International skidded $3.50, or 5.7%, to $58.01.
Gold tried to brighten things up, with Eldorado Gold sprinting $1.20, or 11.2%, to $12.02, while Sandstorm Gold towered 95 cents, or 11.7%, to $9.08.
Materials were also strong, as First Majestic gathered 72 cents, or 7.2%, to $10.58, while Pretium Resources gained 90 cents, or 8.9%, to $11.00.
Among techs, Shopify climbed $33.88, or 5.8%, to $618.60, while Lightspeed POS added 85 cents, or 4.9%, to $18.37.
ON BAYSTREET
The TSX Venture Exchange gained 15.19 points, or 3.6%, to 437.16
Seven of the 12 TSX subgroups closed in the red with real-estate down 3.6%, health-care ailing 2.7%, and consumer discretionary stocks sliding 2.5%
The five gainers were led by gold, up 6.6%, materials, headed north 5.5%, and information technology prospering 1.5%.
ON WALLSTREET
The Dow Jones Industrial Average and the S&P 500 fell for the first time in three sessions on Monday as investors continued to weigh the coronavirus outlook while bracing for the start of the corporate earnings season.
The 30-stock index handed back 328.60 points, or 1.4%, to 23,390.77
The S&P 500 dropped 28.19 points, or 1%, to 2,761.63.
The NASDAQ Composite gained, however, 38.85 points to 8,192.42, as Netflix jumped 7% to a 52-week high while Amazon advanced 6.2%. Intel rose 2.7% while Advanced Micro Devices climbed more than 5%.
The major averages are more than 18% below the records set in February. The Dow is down 18.5% and the S&P 500 is off 15.2%, respectively, for the year while the Nasdaq has fallen over 9% in 2020.
Caterpillar was the worst-performing stock in the Dow, falling more than 8%. The stock was pushed lower by a downgrade from a Bank of America analyst. Financials and real estate led the S&P 500 lower, with both sectors trading more than 3.5% lower.
Johnson & Johnson, JPMorgan Chase, and Bank of America are among the companies scheduled to report earnings this week. Several companies have removed their earnings guidance, citing the coronavirus outbreak, while others have slashed their profit forecasts.
The U.S. stock market had one of its biggest weekly gains ever last week. The Dow posted its seventh-best weekly performance, rallying 12.7%. The S&P 500 had its biggest one-week gain since 1974, jumping 12.1%.
Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said on Sunday he was cautiously optimistic that the outbreak was slowing down in the U.S. He also said parts of the country may start to reopen next month.
However, Fauci added this does not mean the entire country would flip a “light switch” and go back to normal.
Confirmed cases in the U.S. now total nearly 550,000, more than any other country in the world, according to Johns Hopkins University. New York State accounts for more than 189,000 of those cases. The death count in the U.S. from the virus is more than 21,000.
Prices for the 10-Year U.S. Treasury sank, raising yields to 0.76% from Thursday’s 0.73%. Treasury prices and yields move in opposite directions.
Oil prices discarded 14 cents to $22.62 U.S. a barrel.
Gold prices gained $11.30 to $1,764.10 U.S. an ounce.
