Stocks in Canada’s largest centre showed extreme moves – up and down – Tuesday, before settling just under Monday’s close, mostly due to weakness in tech and utility issues.
The TSX charged toward breakeven near the session’s end, falling just short 6.63 points at 24,716.70.
The Canadian dollar regained 0.06 cents to 72.34 cents U.S.
TFI International reported its third-quarter results where it missed revenue and profit estimates. TFI shares reversed earlier losses and gained 98 cents to $187.51.
Financials slipped, hurt by a fall of $17.09, or 9.4% in goeasy, after brokerage BMO downgraded the consumer lender to “market perform” from “outperform”. Shares in goeasy closed Tuesday at $165.39.
Tech weighed heaviest on the market, with Sylogist sagging 23 cents, or 2.1%, to $10.51, while shares in Lightspeed Commerce fell 48 cents, or 2.2%, to $21.25.
In utilities, Superior Plus dropped 18 cents, or 2.5%, to $7.05, while Brookfield Renewable Partners peeled off a dollar, or 2.5%, to $39.00.
In consumer discretionary stocks, DOO Inc. slid $5.87, or 7.6%, to %71.35, while Spin Master Corp. ditched $1.28, or 4%, to $31.07.
Gold brought things closer to breakeven, with Sandstorm Gold leaping 48 cents, or 5.7%, to $8.96, while Seabridge Gold hiked $1.60, or 6%, to $28.39.
In other resource stocks, Pan American Silver jumped $1.51, or 4.1%, to $35.75, while First Majestic Silver captured 44 cents, or 4.2%, to $10.95.
In health-care, Tilray skyrocketed 16 cents, or 7.3%, to $2.35, while Sienna Senior Living tacked on nine cents to $17.25.
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 jumped 4.3 points to 627.31.
The 12 TSX subgroups were evenly split, with information technology and utilities each down 0.7%, while consumer discretionaries off 0.6%.
The half-dozen gainers were led by gold, up 1.6%, while materials and health-care rallied 1.4% each.
ON WALLSTREET
Stocks were slightly higher Tuesday, clawing back losses from earlier in the day, as investors waded through persistent concerns about an uptick in interest rates while also digesting this week’s latest earnings reports.
The Dow Jones Industrials climbed to within 6.71 points of the breakeven mark to 42,924.89
The S&P 500 index fell short only 2.78 points to 5,851.20.
The NASDAQ moved positive 33.12 points to 18,573.13.
Homebuilding stocks dropped on persistent higher-for-longer rate concerns, with Lennar and D.R. Horton each losing more than 3%.
Traders are also eyeing 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.
On Tuesday, General Motors jumped more than 10% after topping Wall Street’s third-quarter expectations and raising its full-year guidance.
Philip Morris also soared roughly 9% after the Marlboro maker raised its annual profit forecast, while Verizon shed more than 4.5% after its total revenue just missed analysts’ forecast. Lockheed Martin shares dipped 6.5% after the military contractor posted lower-than-expected quarterly sales.
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 dropped a bit, raising yields to 4.20% from Monday’s 4.19%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.68 to $72.24 U.S. a barrel.
Prices for gold advanced $22.10 an ounce to $2.761 U.S.