Baystreet.ca - Equities in Toronto fell on Tuesday due to declines in health-care, mining and energy stocks, while investors focused on mixed quarterly results from two major domestic lenders.
The TSX Composite Index dumped 87.94 points to regroup for lunch Tuesday at 23,261.03.
The Canadian dollar inched ahead 0.10 cents to 74.27 cents U.S.
Health-care stocks suffered, especially Tilray (TSX:TLRY) Brands, off 15 cents, or 6%, to $2.37.
Bank earnings are expected to keep the investors intrigued throughout the week with highly anticipated earnings from the Royal Bank of Canada (TSX:RY), National Bank of Canada (TSX:NA), and the Canadian Imperial Bank of Commerce.
RBC shares obtained 50 cents to $156.54, while National shares skidded 18 cents to $120.45, while Commerce shares gained 47 cents to $74.09.
ON BAYSTREET
The TSX Venture Exchange fell 6.19 points, or 1.1%, to 571.33.
All but two of the 12 TSX subgroups were negative, with health-care sliding 1.7%, while energy lost 1.1%, and materials skidded 0.9%
The two gainers were real-estate, collecting 0.6%, and consumer staples, nosing up 0.1%.
ON WALLSTREET
Stocks faltered midday on Tuesday as investors looked ahead to a major earnings report later this week.
The Dow Jones Industrials dropped 67.07 points to begin Tuesday at 41,173.45
The S&P 500 index nicked ahead 0.1 points to 5,616.74
The NASDAQ backpedaled 8.72 points to 17,717.04.
Investors are eager to see earnings from top artificial intelligence beneficiary Nvidia (NASDAQ:NVDA) after Wednesday’s closing bell. Shares of the graphics processing unit manufacturer fell nearly 1% on Tuesday. Nvidia has become a key bellwether for tech stocks and AI more broadly, and investors will look toward its second-quarter results to gauge the health of the AI trade.
Traders are unanimously forecasting a rate cut at the central bank’s Sept.17-18 policy meeting of at least 25 basis points.
Prices for the 10-year Treasury decreased, raising yields to 3.85% from Monday’s 3.82%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.37 at $76.05 U.S. a barrel.
Gold prices slipped seven dollars to $2,548.20.