Equities in Toronto opened lower on Tuesday, hurt by losses in technology stocks, while investors focused on U.S. corporate earnings and the upcoming Bank of Canada’s monetary policy decision.
The TSX retreated 107.1 points to begin Tuesday trading at 24,616.23.
The Canadian dollar regained 0.05 cents to 72.33 cents U.S.
Transportation and logistics company TFI International reported its third-quarter results where it missed revenue and profit estimates. TFI shares shed $2.91, or 1.6%, to $183.62.
On the economic calendar, Statistics industrial product price index fell 0.6% month over month in September and decreased 0.9% year over year, while its raw materials price index declined 3.1% month over month in September and fell 8.8% year over year.
ON BAYSTREET
The TSX Venture Exchange eked higher 0.7 points to 623.71.
All but three of the 12 TSX subgroups were lower, with utilities down 1.1%, consumer staples falling 0.8%, and consumer discretionary stocks off 0.6%.
The three laggards consisted of gold and materials, each up 0.3%, and real-estate, eking up 0.02%.
ON WALLSTREET
Stocks fell for a second day Tuesday as an uptick in interest rates overshadowed a solid start to earnings reporting season.
The Dow Jones Industrials fell 178.98 points to 42,752.62.
The S&P 500 index dipped 20.2 points to 5,833.78.
The NASDAQ slid 4.13 points to 18,535.88.
Traders are also viewing a fresh slate of earnings reports that are set to come out this week, including Tesla and Coca-Cola on Wednesday and Honeywell on Thursday.
So far, about 19% of companies in the broad index have reported results, with more than seven out of 10 topping earnings estimates
Prices for the 10-year Treasury stayed put, keeping yields at Monday’s 4.19%.
Oil prices gained $1.19 to $71.75 U.S. a barrel.
Prices for gold advanced $14.60 an ounce to $2.753.50 U.S.