Equities in Toronto failed to find enough push Tuesday to get over the breakeven point put there on Monday, as selling in health and energy issues blotted out gains in the communications field.
The TSX fell 30.06 points to conclude Tuesday at 16,626.06.
The Canadian dollar gained 0.31 cents to 75.94 cents U.S.
A group of Cirque du Soleil creditors is the front-runner to win control of the financially strapped entertainment group ahead of a Tuesday deadline for bids
Federal Finance Minister Bill Morneau resigned on Monday amid friction with Prime Minister Justin Trudeau over spending policies and after coming under fire for his ties to a charity tapped to run a student grant program.
His replacement will be former Foreign Affairs Minister Chrystia Freeland, the country’s first female finance minister.
Energy stocks let the side down the worst, as MEG Energy slid 20 cents, or 4.7%, to $4.02, while Vermilion Energy doffed 22 cents, or 3.6%, to $5.94.
Health-care issues also suffered, with Bausch Health Companies skidding 83 cents, or 3.5%, to $22.73, while Cronos Group fell 11 cents, or 1.8%, to $7.26.
Gold stocks also tripped over themselves, with B2Gold down 65 cents, or 6.8%, to $8.85, while Torex Gold Resources tumbled 25 cents, or 1.1%, to $21.78.
Communications led the "up" subgroups, with Cineplex moving ahead 12 cents, or 1.5%, to $8.31, while BCE added 32 cents, or 0.6%, to $56.76.
The consumer discretionary group also prospered, primarily BRP, ahead of Monday $2.55, or 4%, to $66.11, while Spin Master grabbed 50 cents, or 1.7%, to $30.40.
Among tech companies, Absolute Software gathered 42 cents, or 2.8%, to $15.59, while Descartes Group picked up $1.12, or 1.6%, to $73.58.
ON BAYSTREET
The TSX Venture Exchange fought to win gains of 0.13 points to 751.
All but three of the 12 TSX subgroups finished in the red, with energy down 1.9%, health-care sliding 1.3%, and gold dulling 0.7%.
The three gainers were in the communications, up 0.4%, consumer discretionary stocks, up 0.2%,
ON WALLSTREET
The S&P 500 rose to an all-time high on Tuesday, capping off its recovery from the coronavirus-induced selloff that knocked it off its previous record.
The Dow Jones Industrials lost 66.84 points to 27,778.07, as Home Depot and Walmart both dipped.
The S&P 500 eased forward 7.79 points to 3,389.78, confirming the start of a new bull market. Consumer discretionary was the best-performing sector in the S&P 500, rising 1.5%
The NASDAQ added to Monday’s all-time high, gaining 81.12 points to 11,210.84.
Amazon shares outperformed, rising more than 4%. Netflix and Alphabet both gained at least 2%.
Home Depot said sales last quarter jumped 23% as consumers stuck in their homes increased do-it-yourself projects. Earnings and sales exceeded Wall Street expectations. Walmart’s earnings and revenue also topped Wall Street estimates last quarter as same-store sales increased by 9.3%. E-commerce sales nearly doubled.
The market’s scorching rally back into record territory also came on the heels of unprecedented fiscal and monetary stimulus. The Federal Reserve slashed the overnight U.S. rate to zero as the pandemic first hit and launched an open-ended quantitative easing program.
Lawmakers, meanwhile, pushed through trillions of dollars worth in unemployment assistance and direct payments to Americans, among other benefits.
Elsewhere on the macroeconomic front, U.S. housing starts for July totaled 1.496 million, easily topping an estimate of 1.24 million.
Prices for the 10-Year Treasury gained, lowering yields to 0.66% from Monday’s 0.69%. Treasury prices and yields move in opposite directions
Oil prices ditched 31 cents at $42.58 U.S. a barrel.
Gold prices added $12.50 to $2,011.20 U.S. an ounce.
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