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TSX Down at Open



Canada’s main stock index opened lower on Tuesday, pulled down by health-care stocks, while investors turned cautious ahead of Big Tech earnings in the U.S., domestic GDP data and Federal Reserve’s rate decision later this week.

The TSX Composite slipped 13.51 points to open Tuesday at 21,186.55.

The Canadian dollar was unchanged at 74.56 cents U.S.

Among domestic stocks, Metro and freight railroad operator Canadian Pacific Railway are slated to report their quarterly earnings later in the day.

Metro shares declined $1.24, or 1.7%, to $69.97, while those for CPR backpedaled 90 cents to $105.32.

Lundin Mining said its fourth-quarter revenue was expected to be negatively impacted by lower metal prices. Lundin shares dipped 12 cents, or 1.1%, to $11.06.

Electronics company Celestica reported fourth-quarter results that beat analysts’ estimates. Celestica leaped $1.95, or 4.5%, to $45.58.

ON BAYSTREET

The TSX Venture Exchange nicked ahead 1.8 points to begin Tuesday’s session at 556.71.

All but three of the 12 subgroups were in the minus category, with health-care sliding 1.1%, while real-estate dipped 0.7%, and utilities were off 0.4%.

The three gainers proved to be energy, up 0.3%, while gold improved but 0.04%, and materials eked out gains of 0.03%.

ON WALLSTREET

Stocks dipped Tuesday as investors analyzed the latest corporate earnings with the Federal Reserve policy meeting on the horizon. Traders also awaited results from major tech companies.

The Dow Jones Industrials leaned back 37.09 points to begin Tuesday at 38,296.36.

The S&P 500 index slid 3.84 points to 4,924.09.

The NASDAQ faltered 36.83 points to 15,591.23.

General Motors shares popped 7% after the automaker posted better-than-expected earnings. Cybersecurity stock F5 gained 2% on the back of a better-than-expected financial report, while electronics manufacturer Sanmina soared more than 27% after posting strong earnings per share and current-quarter guidance.

Elsewhere, home-appliances maker Whirlpool shed more than 5% after sharing a worse-than-expected outlook for the full year. JetBlue was also down 5% even after disclosing better-than-expected results.

Those reports come ahead of major tech reports slated for the afternoon, including Microsoft and Alphabet. These companies, which are part of a group known as the “Magnificent 7,” have been closely watched by market participants after driving up the S&P 500 with their outsized gains. Amazon, Meta and Apple will post their quarterly financials later in the week.

Prices for the 10-year Treasury sagged, raising yields to 4.09% from Monday’s 4.08%. Treasury prices and yields move in opposite directions.

Oil prices regained 41 cents to $77.19 U.S. a barrel.

Gold prices surged $12.10 to $2,056.70.



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