Stocks once again had difficulty getting untracked Tuesday, as investors were likely feeling some nerves on the eve of the latest statement on interest rates by the Bank of Canada. Health-care and resources took most of the bruises.
The TSX Composite finished in the negative 34.28 points Tuesday to 20,375.93.
The Canadian dollar flopped 0.29 cents at 73.57 cents U.S.
Health-care stocks let the side down Tuesday, with Tilray fading 22 cents, or 8%, to $2.54, while Bausch Health Companies capsized 43 cents, or 4.2%, to $9.70.
In materials and gold, Endeavour Silver handed back 15 cents, or 5.3%, to $2.68, while Ero Copper dipped 86 cents, or 4.7%, to $17.30.
Iamgold dulled in price 17 cents, or 5%, to $3.24, while Torex Gold lost $1.04, or 6.8%, to $14.26.
In techs, Bitfarms gained 24 cents, or 10%, to $2.64, while HUT 8 Mining collected $1.01, or 7.1%, to $15.31.
Real-estate broke even and more, with units of Boardwalk REIT taking on $1.37, or 2%, to $69.68, while Storagevault Canada picked up a dime, or 2$, to $5.04.
North West Company gained $1.42, or 4%, to $37.22 after RBC raised its price target on the retailer’s stock. Elsewhere in consumer staples, Loblaw Companies climbed $2.24, or 1.9%, to $121.02.
ON BAYSTREET
The TSX Venture Exchange tanked 9.99 points, or 1.8%, to 534.17.
Seven of the 12 TSX subgroups lost ground on the session, with health-care stumbling 2.9%, materials off 1.2%, and gold lost 2%.
The five gainers were led by information technology, up 1.5%, real-estate hiked 0.6%, and consumer staples jumped 0.5%.
ON WALLSTREET
The Dow Jones Industrial Average and the S&P 500 slid on Tuesday as a recent rally on Wall Street lost steam.
The 30-stock index swooned 92.40 points at 36,112.04.
The S&P 500 dipped 2.6 points to 4,567.18.
The NASDAQ gained 44.42 points to 14,229.91.
GitLab jumped more than 11% after the open-source software development platform beat quarterly financial expectations and issued strong guidance for the current quarter. Nio climbed 1.5% after the Chinese electric vehicle maker reported narrowing losses in the third quarter.
Technology shares were boosted in particular following the data, pushing the Nasdaq into positive territory for the session. Notably, mega-cap tech stocks Apple and Nvidia each added 2%.
Tuesday’s moves follow Monday’s losing session for all three indexes, which called into question whether the market had run up too far too fast. Monday’s pullback came on the heels of five consecutive positive weeks for the three major averages.
Despite their recent performance, the three indexes are still up on the quarter and year. That underscores the strength of the market’s rally leading up to the current trading week.
Prices for the 10-year Treasury shot higher, dropping yields to 4.17% from Monday’s 4.26%. Treasury prices and yields move in opposite directions.
Oil prices faded 65 cents to $72.39 U.S. a barrel.
Gold prices dropped $4.70 to $2,037.50.