Equities in Toronto dipped on Tuesday as uncertainty over U.S.–Iran peace talks ahead of the ceasefire deadline kept investors cautious, with ?miners being the biggest drag on the index.
The TSX Composite Index took a header of 341.58 points, or 1%, to move into noon hour EDT Tuesday at 34,018.45.
The Canadian dollar docked 0.02 cents at 73.27 cents U.S.
The U.S. voiced confidence that peace talks with Iran would be held in Pakistan, and a senior Iranian official said Tehran was considering joining, but significant hurdles remained as a ceasefire deadline approached at the end of the ?day.
U.S. President Donald Trump said on Tuesday that he did not want to extend a rapidly expiring ceasefire in the U.S.-Israeli war on Iran and that the U.S. military was "raring to go" if negotiations were not successful.
Miners including NovaGold Resources and Equinox Gold were among ?the top losers, NovaGold giving up 89 cents, or 6.1%, to $13.80, while Equinox flopped $1.11, or 5.3%, to $19.93.
ON BAYSTREET
The TSX Venture Exchange retreated 24.91 points, or 2.3%, to 1,039.67.
All but two of the 12 TSX subgroups were lower, weighed most by gold, dulling 3.7%, materials, off 3.3%, and health-care, down 1.2%.
Energy on the other hand, collected 1%, while consumer staples cleared breakeven 0.3%.
ON WALLSTREET
The S&P 500 slid on Tuesday as oil prices moved higher, with investors awaiting further developments in the Middle East ahead of a ceasefire that’s set to expire Wednesday.
The Dow Jones Industrial Average sank 33.09 points to 49,409.47.
The much-broader index dropped 13.5 points to 7,095.66.
The NASDAQ moved lower 24.53 points to 24,379.86.
President Donald Trump added, however, that the U.S. military is “ready” to bomb Iran if a deal is not signed by the ceasefire deadline and that he does not want to extend it.
This comes after Trump said earlier Tuesday in a Truth Social post that Iran “Violated the Cease Fire numerous times!”
On Tuesday, UnitedHealth’s first-quarter results surpassed Wall Street’s expectations, which sent shares of the health insurance giant more than 8% higher. The company also hiked its earnings outlook.
Meanwhile, Amazon shares climbed nearly 2% on the heels of the company agreeing to invest up to $25 billion in artificial intelligence startup Anthropic.
Prices for the 10-year Treasury moved lower, raising yields to 4.29% from Monday’s 4.26%. Treasury prices and yields move in opposite directions.
Oil prices took on $3.54 to $93.15 U.S. a barrel.
Gold prices slumbered $69.20 to $4,759.40 U.S. an ounce.
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