Canada's main stock index dropped at open on Tuesday, weighed down by energy stocks as oil prices slumped, while data showed domestic economic growth stalled in July.
The TSX dipped 6.92 points to begin Tuesday at 35,482.94.
The Canadian dollar swooned 0.07 cents to 70.46 cents.
The energy sector will be closely watched later in the day as the Canada Energy Regulator approved Trans Mountain's tolls settlement, allowing up to 90% of the pipeline's capacity to be contracted to shippers
Shell and its partners approved LNG Canada Phase 2, a major expansion that will double the facility's production capacity to 28 million tons per annum
In major corporate news, Cleveland-Cliffs plans to lay off hundreds of workers at its Ontario plant, citing the impact of U.S. steel tariffs
On the economic slate, Statistics Canada reports GDP was essentially unchanged in July, following three consecutive months of expansion.
ON BAYSTREET
The TSX Venture Exchange inched up 1.67 points, to 895.91.
The 12 subgroups were evenly divided, with information technology climbing 1.5%, gold, up 1.1%, and materials, better by 0.7%.
The half-dozen laggards were weighed most by telecoms, regressing 0.9%, health-care dipping 0.8%, and energy, off 0.7%.
ON WALLSTREET
Stocks were little changed on Tuesday, following a losing session, as traders kept an eye on U.S. Treasury yields.
The Dow Jones Industrials flopped 101.95 points to 51,379.56
The S&P 500 index moved lower 5.45 points to 7,678.24.
The NASDAQ Composite eked up 1.64 points to 26,822.03.
The combination of higher oil and yields has put pressure on stocks of late. The Dow fell more than 300 points on Monday, while the S&P 500 retreated 0.8% and NASDAQ Composite shed 0.9%.
Shares of Chinese electric vehicle company XPeng fell 4.2% Tuesday, reaching a 52-week low of $9.51, after JPMorgan downgraded the stock to neutral from overweight.
The Conference board consumer confidence index fell 6.7 points to 81.9 in September, while economists polled by Dow Jones expected an increase to 89 from 88.6 in August.
Prices for the 10-year Treasury regained lost ground, spiking yields to 5.25% from Monday’s 5.23%. Treasury prices and yields move in opposite directions.
Oil prices slid $1.30 to $91.30 U.S. a barrel.
Gold prices were higher by $28.80 to $4,197.20 U.S. an ounce.
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