Equities in Canada’s largest centre opened lower on Tuesday due to broader losses led by utility shares, while investors assessed U.S. corporate results and awaited Google-parent Alphabet’s earnings due later in the day.
The TSX surrendered 19.09 points to start Tuesday at 24,546.57.
The Canadian dollar slid 0.05 cents to 71.95 cents U.S.
The U.S. presidential election has entered its final stretch and market bets have been favoring a second Donald Trump administration in recent weeks.
Looking ahead, Bank of Canada Governor Tiff Macklem is expected to appear at the House of Commons Standing Committee on Finance at 03:30 p.m. ET.
In corporate news, the U.S. Department of Energy finalized a $2.26-billion loan for Lithium Americas on Monday to build Nevada’s Thacker Pass lithium mine. Lithium Americas stock bounced $1.14, or 19.8%, to $6.91.
ON BAYSTREET
The TSX Venture Exchange progressed 3.94 points to 621.09.
Eight of the 12 TSX subgroups lost ground in the first hour, with utilities stumbling 1.2%, communications down 0.7%, and consumer discretionary stocks off 0.6%.
The four gainers were led by gold, shining brighter 1.1%, materials better by 0.8%, and industrials, up 0.3%.
ON WALLSTREET
Stocks were flat Tuesday as investors readied for key corporate earnings releases, including reports from notable tech names.
The Dow Jones Industrials took on 18.52 points to commence Tuesday at 42,406.09
The S&P 500 nicked ahead 0.15 points to 5,823.67.
The NASDAQ gained 21.89 points to 18,589.08.
Ford Motor slid 8% after the automaker provided full-year guidance that was on the low end of its previously set range. Meanwhile, McDonald’s rose 1% after reporting a top- and bottom-line beat in the third quarter.
Traders will keep an eye on earnings reports from major companies due on Tuesday as the busiest week of this earnings season continues. Alphabet, Snap, Reddit, Chipotle and Advanced Micro Devices are all scheduled to post their quarterly results after the market closes.
Tech juggernauts Meta Platforms and Microsoft are slated to report on Wednesday, while Apple is up on Thursday.
Prices for the 10-year Treasury dropped Tuesday, hiking yields to 4.31% from Monday’s 4.27%. Treasury prices and yields move in opposite
directions.
Oil prices gained 26 cents to $67.64 U.S. a barrel.
Prices for gold flew $21.80 an ounce to $2.777.70 U.S.