Equities in the nation’s largest centre still fell short of the breakeven point Tuesday, due to weakness in the energy and materials sector.
The TSX Composite Index fell 30.2 points to wind up Tuesday at 24,072.51
The Canadian dollar shed 0.15 cents to 73.27 cents U.S.
The energy sector suffered from losses in oil prices, partly because of a pause in the conflict between Israel and Iran.
Markets see a 90.7% chance of a 25-basis points cut at the Federal Reserve’s November policy meeting, while expectations for a quarter-point-cut by the Bank of Canada later in the month stand at 72.8%.
In corporate news, online jewelry brand Mene named Sean Try as its chief financial officer, effective immediately, following Gavin Johnson’s resignation. Mene shares have maintained a reading of 12 cents since early last week.
Energy proved the biggest drag on the market, with Mattr Corp. shedding $1.45, or 10.4%, to $12.53, while Advantage Oil slipped 59 cents, or 6%, to $9.27.
Among resource issues, Teck Resources slumped $3.56, or 5.1%, to $66.13, while Hudbay Minerals docked 62 cents, or 4.1%, to $12.26.
In utilities, Superior Plus dropped 17 cents, or 2.3%, to $7.28, while Boralex handed over 32 cents to $35.11.
Tech stocks tried to pick the slack, as Shopify grabbed $2.92, or 2.1%, to $113.12, while Celestica jumped $1.82, or 2.5%, to $75.83.
In the industrial sector, Badger Infrastructure improved $1.18, or 3.1%, to $39.66, while Bombardier hiked $2.23, or 2.1%, to $107.99.
In consumer staples, Saputo jumped 41 cents, or 1.5%, to $28.73, Primo Water soared 38 cents, or 1.2%, to $34.75.
On the economic schedule, Canada’s merchandise exports fell 1.0% in August, while imports edged up 0.3%. Consequently, Canada’s merchandise trade balance with the world widened from a revised deficit of $287 million in July to a deficit of $1.1 billion in August.
ON BAYSTREET
The TSX Venture Exchange gave back 4.64 points to 587.61
Seven of the 12 TSX subgroups lost ground at the closing bell, with energy fading 2.6%, while materials slid 1.3%, and utilities were off 0.4%.
The five gainers were led by information technology, up 1.2%, while consumer staples and industrials each climbed 0.4%.
ON WALLSTREET
Stocks rebounded on Tuesday following a losing session on Wall Street as oil prices eased and investors assessed ongoing tensions in the Middle East.
The Dow Jones Industrials jumped 126.13 points to 42,080.37.
The much-broader index improved 55.19 points, or 1%, to 5,751.13.
The NASDAQ Composite hiked 259.01 points, or 1.5%, to 18,182.92.
Technology shares powered higher Tuesday, with Nvidia climbing 4%, and Broadcom gaining 3%. Meta Platforms, Tesla and Microsoft rose at least 1% each, while Palo Alto Networks rallied 5%.
Stocks have been volatile this month as fears of an escalating conflict in the Middle East mount. The S&P 500 is off by a little more than 1.1% in October following a 2% gain in September. Stocks are also coming off a rocky session that saw all three major averages finish lower.
Prices for the 10-year Treasury gained, bringing yields back to Monday’s 4.02%. Treasury prices and yields move in opposite directions.
Oil prices dipped $3.23 to $73.91 U.S. a barrel.
Gold prices stumbled $24.30 to $2,461.70 U.S. an ounce
