Canada's main stock index fell by noon EST on Tuesday as escalating tensions between Russia and Ukraine triggered a rush toward safe-haven assets globally.
The TSX lost 48.71 points to approach noon Tuesday at 24,928.23, still off its lows of the early morning.
The Canadian dollar gained 0.27 cents to 71.59 cents U.S.
Among individual stocks, TC Energy forecast 2025 core profit to be in the range of about $10.7 billion to $10.9 billion, higher than its 2024 forecast. Its shares slipped 64 cents to $69.29.
In matters economic Tuesday, Statistics Canada reported its Consumer Price Index rose 2.0% on a year-over-year basis in October, up from a 1.6% increase in September. On a seasonally adjusted monthly basis, the CPI rose 0.3% in October.
ON BAYSTREET
The TSX Venture Exchange inched up 1.58 points to 595.75.
All but three of the 12 subgroups were in the red. Industrials dipped 0.9%, while consumer staples faltered 0.7%, and health-care faded 0.6%.
The three gainers consisted of gold and materials, each better by 1.1%, and communications, ahead 0.1%.
ON WALLSTREET
The NASDAQ Composite gained Tuesday, driven by Nvidia shares, as investors attempted to shake off concerns of rising geopolitical tensions between Ukraine and Russia.
The Dow Jones Industrials came off their lows of the morning, but remained negative 133.28 points to 43,256.32.
The S&P 500 forged ahead 9.18 points to 5,901.78.
The tech-heavy NASDAQ also climbed out of its hole and gained 97.13 points to 18,888.99.
The market pressure began overnight after Russian President Vladimir Putin warned the U.S. that the threshold for the use of nuclear weapons had lowered, a new stance coming after President Joe Biden allowed Ukraine to use U.S. weapons to strike inside Russia.
Then losses accelerated on news that Ukraine hit Russian border region Bryansk with U.S.-made missiles, according to the Russian military. The New York Times confirmed the attack, citing U.S. and Ukrainian officials. The attack was on an ammunition warehouse, according to the report.
One bright spot was Nvidia, which gained 2% ahead of its closely-watched earnings report after the bell Wednesday. Walmart added 5% after posting better-than-expected earnings and hiking its outlook on strong discretionary spending. Tesla rose 2%, bringing its month-to-date rally to 38%. Shares are headed for their best month since January 2023.
Prices for the 10-year Treasury jumped, lowering yields to 4.38% from Monday’s 4.42%. Treasury prices and yields move in opposite directions.
Oil prices slid 23 cents to $68.93 U.S. a barrel.
Prices for gold took on 13 dollars an ounce to $2,617.80 U.S.
Related Stories
