Equities in Canada’s largest market sagged Tuesday, as losses in the health-care sector overcame gained in tech stocks.
The TSX Composite handed over 103.93 points to finish Tuesday at 20,970.98.
The Canadian dollar ditched 0.27 cents to 74.64 cents U.S.
Health-care took the biggest lumps Tuesday, as Tilray surrendered 30 cents, or 9.6%, to $2.82. Chartwell Retirement Residences was off four cents to $11.85.
Gold also suffered, as New Gold dished off six cents, or 3.2%, to $1.81, while Kinross Gold shed eight cents, or 1.1%, to $7.51.
Materials also had a rough time of it, with Nutrien sliding three dollars, or 4%, to $71.39, while Ero Copper dipped 76 cents, or 3.4%, to $21.49.
Tech stocks tried to even things out, as Shopify gained $3.12, or 3%, to $106.88, while BlackBerry advanced 12 cents, or 2.8%, to $4.43.
In energy concerns, Advantage Oil picked up 21 cents, or 2.5%, to $8.70, while Birchcliff Energy moved upward 14 cents, or 2.4%, to $5.92.
ON BAYSTREET
The TSX Venture Exchange slid 1.73 points to 554.42.
All but two of the 12 subgroups pointed downward on the day, weighed most by health-care, off 2.7%, gold, sliding 1.7%, and materials, down 1.5%.
The lone holdouts were information technology, up 1%, and energy, eking up 0.04%.
ON WALLSTREET
The S&P 500 trimmed an earlier decline Tuesday, boosted by tech shares, but still ended the day with modest losses.
The Dow Jones Industrials were in the red 157.91 points to close Tuesday at 37,525.10.
The much-broader index dipped 7.04 points to 4,756.50.
The NASDAQ pushed ahead 13.94 points to 14,857.
Nvidia traded more than 1% higher, reaching a fresh all-time high. Amazon was also up more than 1% along with Alphabet. Shares of Juniper Networks also popped more than 22% on Tuesday after a Wall Street Journal report said Hewlett Packard Enterprise could announce a deal to acquire the networking hardware company for about $13 billion as soon as this week.
Tech, the big outperformer for 2023, struggled out of the gate in 2024, putting pressure on the broader market. Year to date thus far, the space is down more than 1%.
Companies reporting earnings this week include Taiwan Semiconductor Manufacturing Company and Infosys on Thursday, as well as JPMorgan Chase, UnitedHealth, Bank of America and Delta Air Lines on Friday, among other financial heavyweights.
Those moves come after a strong trading session for equities. The S&P 500 and the NASDAQ on Monday rallied as mega-cap tech stocks bounced from last week’s declines, with shares of Nvidia reaching an all-time high.
Prices for the 10-year Treasury fell, raising yields to 4.01% from Monday’s 3.98%. Treasury prices and yields move in opposite directions.
Oil prices took on $1.35 to $72.12 U.S. a barrel.
Gold prices nosed ahead $1.90 to $2,035.40.