Canada's main stock index gave back gains after hitting a record high earlier in the session, propelled by material stocks, while investors awaited the Bank of Canada's next interest rate decision later in the week.
The TSX Composite progressed 42.16 points to 22,302.46.
The Canadian dollar gained 0.07 cents at 73.76 cents U.S.
The Bank of Canada is set to announce its next monetary policy decision on Wednesday, where the central bank is widely expected to leave interest rates unchanged, in its third meeting this year. However, markets are pricing in a little over 65% bets of a cut in June.
Stephens resumed coverage of TFI International, while J.P. Morgan added the transport and logistics company's U.S.-listed shares to its U.S. Analyst Focus List. TFI shares lost $1.54 to $216.46.
Health-care stocks put a weight on things, pulled down by a decline of 73 cents, or 20.9%, in Tilray Brands to $2.77, after the pot firm said it no longer expected to generate adjusted positive free cash flow for the fiscal year 2024.
In corporate news, shares of Blackberry advanced 39 cents to $59.99.
ON BAYSTREET
The TSX Venture Exchange gained 2.02 points to 587.52.
Seven of the 12 TSX subgroups were in the green early on Tuesday, led by gold, ahead 2.3%, materials, better by 2%, and real-estate, improving 0.6%.
The five laggards were weighed most by health-care, sagging 5.4%, while consumer staples lost 0.5%, and utilities faded 0.2%.
ON WALLSTREET
The Dow Jones Industrial Average pulled back Tuesday as investors struggled to regain some positive momentum ahead of the release of key U.S. inflation data.
The 30-stock index descended 279.24 points to 38,613.56.
The S&P 500 eased 34.46 points to 5,167.93.
The NASDAQ dropped 73.38 points to 16,180.57.
Chipmaker Nvidia dropped 3.5%. Other mega-cap tech names were also negative for the day, with Meta and Netflix down 1.7% and 1.6%, respectively. Meanwhile, shares of Amazon also ticked up 0.3%, on pace to break the previous record close from 2021.
The March consumer price index report is slated for release Wednesday at 8:30 a.m. ET. Economists surveyed by Dow Jones expect inflation to have increased 0.3% in March on a month-over-month basis.
Prices for the 10-year Treasury gained ground, lowering yields to 4.37% from Monday’s 4.42%. Treasury prices and yields move in opposite directions.
Oil prices faltered 63 cents to $85.80 U.S. a barrel.
Gold prices captured $28.10 to $2,379.10 U.S. an ounce.
