Equities in Canada’s largest market remained negative by midday Monday, dragged lower by declines in shares of the country's biggest banks, as well as a retreat in gold miners and retailers.
The S&P/TSX Composite Index came off their lows of the morning, but stayed lower 65.05 points to greet noon at 15,118.08
The Canadian dollar added 0.17 cents to 79.9 cents U.S.
Encana rose 1.8% to $12.56, while Canadian Natural Resources added 0.1% to $37.30.
Toronto Dominion Bank was among the biggest drags on the index, down 0.5% at $65.03, followed closely by Royal Bank of Canada, which declined 0.3% to $93.57.
Natural resources shares tumbled as gold miners fell, including Barrick Gold, which declined 1.5% to $19.99.
Shares of potash producers also declined, with Potash Corp falling 0.6% to $22.43, while Agrium was down 0.5% at $124.74.
Consumer-related shares added to the general weakness on the Toronto market, including grocer Loblaw, which declined 0.8% to $70.80, and pharmacy chain Alimentation Couche-Tard, which slipped 0.7% to $59.83.
On matters economic, Statistics Canada reported wholesale trade rose 0.9% to a record-high $61.6 billion in May. Sales were up in six of the seven sub-sectors, representing 80% of total wholesale sales.
The agency adds that the miscellaneous and motor vehicle and parts sub-sectors contributed the most to the gains.
ON BAYSTREET
The TSX Venture Exchange inched up 1.51 points to 762.46.
All but two of the 12 TSX subgroups were listing downward by noon, primarily gold, off 1%, materials, surrendering 0.9%, and health-care, sicker by 0.5%.
The two gainers were information technology, struggling up 0.02%, and energy, forging a mere gain of 0.01%.
ON WALLSTREET
U.S. equities traded mostly lower Monday as Wall Street geared up for a major week of earnings and Federal Reserve news.
The Dow Jones Industrials dropped 58.06 points to 21,522.01, with Johnson & Johnson contributing the most losses.
The S&P 500 lost 3.55 points to 2,468.99, with utilities leading decliners.
The NASDAQ gained 2.5 to 6,390.25
Approximately 180 S&P 500 components are scheduled to report, including tech giants Facebook, Amazon and Google-parent Alphabet.
Earnings season has gotten off to a strong start. As of Friday, experts say, 73% of S&P 500 companies that had reported beat earnings estimates and 77% topped sales estimates
Investors had high hopes for this earnings season, with experts’ earnings growth forecast at 6.2% entering the season.
In economic news, the IHS Markit Flash US Composite Purchasing Managers Index hit its highest level in six months.
Prices for the benchmark 10-year Treasury note sagged Monday, lifting yields to 2.25% from Friday’s 2.24%. Treasury prices and yields move in opposite directions.
Oil prices gained 44 cents to $46.21 U.S. a barrel
Gold prices took on $1.40 to $1,256.30 U.S. an ounce.
